The general consensus among company directors and managers in German-speaking countries is that digital transformation will lead to huge changes, and that these will be disruptive in many business sectors. How can companies cope with this upheaval and ultimately benefit from it? What have companies achieved so far? What future developments do they think are in store?
Horváth & Partners investigated these questions as part of this study on digital transformation. The Digital Value 2019 study is based on an underlying survey of around 300 decision-makers from Germany, Austria, and Switzerland, which represents a cross-section of the corporate landscape.
The current status of digitization is quite good in many areas, as the study shows. Over the past twelve months, companies have seen the greatest successes here in the speed of their processes and the quality of their goods and services. Nonetheless, our study also verifies what we as consultants see every day: Just one third of companies are pursuing an overall concept when it comes to digitization. Yet this is the most important task for companies – they need to take the step from individual digital projects to holistic transformation. To master digital transformation and drive it systematically forward, it is necessary to have a comprehensive strategy to use as a roadmap.
On average, companies are putting almost a third of their total investment into digital projects, undaunted even by the increasingly gloomy economy; company directors are seeking to exclude digital projects from savings plans as much as they can, because they know that their survival strategy needs to be digital. This is their only chance for securing future success during economic downturn, rather than missing the boat.
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