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Voices of Change

Digital transformation: A sustainable evolution journey

December 5, 2022 3-MINUTE READ

Research Report

In brief

  • This is the 5th consecutive year for Accenture to launch the China Enterprises Digital Transformation Index Research.
  • In 2022, 17% surveyed companies emerge as Champions, and four distinctive characteristics set them apart from the other companies.
  • Accenture debuts its Digital Enterprise Evolution Roadmap that helps companies chart their course of digital transformation.
  • Accenture has listed six key areas of action that can help Chinese companies respond to short-term pressures while growing their businesses in the long run.

As the global economy slows down and China’s economy faces the “triple pressure”, Chinese enterprises are going through a difficult patch. Enterprises recognize the importance of digital investments but manage them in a more prudent way.

2022, 17% of the companies in the study emerge as Champions. Their scores stayed flat from last year (16%), but the gap between Champions’ scores and others has widened, with clear advantages accruing to those businesses where the determination to “transform” is firm.

While other companies focus on efficiency improvements of their core and existing businesses, and temporarily suspend their investments in the future, Champions forge ahead. These companies’ leaders refuse to focus narrowly on survival. Instead, even as they engage in cost-reduction measures and strive for higher efficiencies, they also invest in building innovation capabilities, including product service and business model innovation. Thus, they continue to improve their competitiveness versus other companies.

And they turn in stronger performance results. By investing in both the present and the future, Champions consistently achieved better performance.

We evaluated 195 listed companies in our sample based on their financial performance from 2016 to 2021 and ranked them among their industry peers (graded 0-4). Champions achieved better performance in all four dimensions, and their overall performance is 11% higher than others.

Champions’ four distinctive characteristics set them apart

  • Purpose-led: Pursue self-transformation and balance multiple values.
  • Human-centric: Keenly identify needs and deliver innovative solutions.
  • Resilient Operation: Accurately judge external changes and optimize resource allocation.
  • Tech Leadership: Advanced tech architecture fully imbedded in business.

To help enterprises transform, we have drawn on years of practical experience to summarize how companies can evolve on their ways to becoming digital enterprises. This Digital Enterprise Evolution Roadmap can guide companies as they chart their courses and realize their digital transformation goals.

Digital Enterprises Evolution Roadmap

Digital transformation is an ongoing journey

How can companies respond to short-term pressures while growing their businesses in the long run? We list six key areas of action that can help Chinese companies keep one foot in today and one foot in the future.

  1. Leverage open innovation for long-term growth
  2. Lead with human centricity
  3. Build platforms for a diversified workforce
  4. Enhance data-driven intelligent operations
  5. Develop resilience through transparency
  6. Realize the full potential of technology

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