The degree of digitization increases the return
Companies that have adapted their business models to digitization are much more successful. This is the conclusion of the study "Digital Dividends in SMEs."24 Mar 2018 Dirk Bongardt
The revenue and earnings growth of companies that have already implemented digitization strategies is almost 20% higher. And that’s more than you’d expect: One in four companies of the German SME sector can be considered a digital leader. These are two key findings of the scientific “ Digital Dividends in SMEs ” study. Experts from the consulting firm Mind Digital and the Rheinische Fachhochschule Cologne surveyed the decision makers of 54 medium-sized companies in detail on behalf of Telekom, AlixPartners and Iskander Business Partner with regard to this subject. There was a clear, positive connection between sales and profitability growth on the one hand and the degree of digitization on the other.
The study cites three factors as decisive for success: Start earlier, implement faster, and communicate more. However, many companies have concerns about this. In a study by Ernst & Young , decision makers identified high investment costs and a shortage of specialists as the biggest challenges. The Digital Dividends study, however, clearly demonstrates that it is worthwhile to overcome these challenges. It identifies a total of four groups of companies with different levels of digitization. The digital leaders achieve by far the highest sales and profit growth. The authors mention Heidelberger Druckmaschinen , the insulation, restoration and coating system manufacturer Sto , Stremmer Sand + Kies , Energy2Market , and BLG Logistics as examples. The full study is available for free download .
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