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Leader or Laggard—What are You?

Are you one of those many leaders who still cling to old ways of doing things when better innovative technology is available to make your job effective? Accenture’s new study reveals that the top 10% of organizations have moved ahead of the pack in tech adoption, growing at 5x the rate of the bottom 25% of companies. Technology is now a competitive differentiator and performance booster. So, are you a leader or laggard in technology adoption? In this article at TechRepublic, Esther Shein explains why IT leaders shift their budgets from operations to innovation.

What Do the Statistics Say?

Accenture study found that:

72% of IT leaders accelerated investments in cloud security, while 68% invested in hybrid cloud. Contrastingly, laggards invested in newer technologies just to keep their organizations operational.70% of IT leaders invested a large sum of the IT budget in IoT, 59% increased their investments in AI and machine learning, and 60% boosted investments in robotic process automation.IT leaders grew profit margin by 3.4% per year between 2016 and 2020. However, laggards who did not think beyond the bottom line suffered an annual 10.9% reduction.

What Differentiates Leaders from Laggards?

IT leaders use technology to innovate within their businesses and introduce change. They identify business goals and further tie the new technology’s introduction to those goals. While laggards do not believe technology can innovate or make companies respond better.IT leaders view the technology’s potential to enhance responsiveness, customer satisfaction, and retention. On the other hand, laggards do not examine the impact that IT has made on business productivity within other organizations.Laggards spend most of the IT budget on maintenance, whereas IT leaders focus on minimizing risk and maximizing security.

“Companies must create digital fluency across the enterprise to continually evolve their collaboration and technology capabilities,” says Shein. Investing in re-platforming the cloud enables organizations to drive change across their businesses and thrive in the post-pandemic economy. To read the original article, click on https://www.techrepublic.com/article/are-you-a-tech-leader-or-laggard/.

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