As digital gap widens in wake of pandemic, ‘Masters of Change’ will define the future, according to Accenture Technology Vision 2021
February 17, 2021
February 17, 2021
The report, “Leaders Wanted: Masters of Change at a Moment of Truth”, outlines how leading enterprises are compressing a decade of digital transformation into one or two years. Relying on a strong digital core to adapt and innovate at lighting speed, leaders are growing revenues 5x faster than laggards today, versus only 2x faster between 2015 to 2018, according to Accenture research. The result is a wave of companies racing to reinvent themselves and use technology innovations to shape the new realities they face.
“The global pandemic pushed a giant fast forward button to the future. Many organisations stepped up to use technology in extraordinary ways to keep their businesses and communities running – at a pace they thought previously impossible – while others faced the stark reality of their shortcomings, lacking the digital foundation needed to rapidly pivot,” said Paul Daugherty, group chief executive – Technology and chief technology officer at Accenture. “We now have a once-in-a-generation opportunity to turn this moment of truth for technology into a moment of trust – embracing the power of exponential technology change to completely reimagine and rebuild the future of business and human experience.”
Accenture surveyed more than 6,200 business and technology leaders for the Technology Vision report, and 96% of South African leaders report that their organisation is innovating with an urgency and call to action this year. And 97% of executives agree capturing tomorrow’s market will require their organisation to define it.
Shaping the future will require companies to become masters of change by adhering to three key imperatives. First, leadership demands technology leadership. The era of the fast follower is over—perpetual change is permanent. Tomorrow’s leaders will be those that put technology at the forefront of their business strategy. Second, leaders won’t wait for a new normal, they’ll reinvent, building new realities using radically different mindsets and models. Finally, leaders will embrace a broader responsibility as global citizens, deliberately designing and applying technology to create positive impacts far beyond the enterprise to create a more sustainable and inclusive world.
“Technology and innovation were bound to change the world,” says Willie Schoeman, Managing Director for Accenture Technology in Africa. “The COVID-10 pandemic accelerated the urgency for change and South African business across a variety of industries had to adapt to first survive the storm. Now, true business leadership will come from companies who are willing to embrace radically different mindsets and business models. They will not only adapt their business to the new reality, while rebuilding the South African economy post the pandemic. Leading businesses will shape the new future by harnessing the power of innovative new technologies,” he says.
The Technology Vision identifies five key trends that companies will need to address over next three years to accelerate and master change in all parts of the business:
Prioritising technology innovation in response to a rapidly changing world has never been more important. Consider the restaurant industry: 60% of restaurants listed as ‘temporarily closed’ on Yelp in July were permanently out of business by September. Through the chaos, Starbucks emerged as a leader, using technology as a vital airbag. By August, three million new users downloaded its app, and mobile ordering and drive-thru pick up accounted for 90 percent of sales. As demand surged, it deployed an integrated ticket management system to combine orders from its app, UberEats and drive-thru customers into a single workflow for baristas. Starbucks also introduced a new espresso machine with sensors to track how much coffee was being poured and predict necessary maintenance. This is a powerful illustration of technology as the core enabler of a company’s agile, resilient and successful response to change.
For 21 years, Accenture has taken a systematic look across the enterprise landscape to identify emerging technology trends that hold the greatest potential to disrupt businesses and industries. For more information on this year’s report, visit www.accenture.com/technologyvision or follow the conversation on Twitter with #TechVision2021
For the 2021 report, the research process included gathering input from the Technology Vision External Advisory Board, a group comprising more than two dozen experienced individuals from the public and private sectors, academia, venture capital firms and entrepreneurial companies. In addition, the Technology Vision team conducted interviews with technology luminaries and industry experts, as well as with nearly 100 Accenture business leaders. In parallel, Accenture Research conducted a global online survey of 6,241 business and IT executives to capture insights into the adoption of emerging technologies. The survey helped identify the key issues and priorities for technology adoption and investment. Respondents were C-level executives and directors at companies across 31 countries and 14 industries.
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialised skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
Contact:
Jonathan Mahapa
Accenture
+27 11 208 3947
jonathan.mahapa@accenture.com