Digital innovation: Swiss companies must become even bolder
The majority of Swiss companies have improved their innovation processes and thus also their monetization of digital products and services. Nevertheless, Switzerland still has a lot of development potential in terms of digitalization. This is shown by this year's Accenture study "Digital Index Switzerland 2017".
As part of the new study, Accenture classified 100 Swiss companies into three digital profiles with different characteristics: Digital Followers, Digital Maintainers and Digital Trendsetters. Companies that have already started their digital journey but are not yet fully ready for transformation are called Digital Followers. They have started selling their standard products and services through digital platforms. Digital Maintainers are companies that are focused on digital monetization but do not yet have a continuous innovation pipeline. The third profile, Digital Trendsetters, includes companies that focus on digital-enabled innovation and have the ability to develop new trends, products and services. According to Accenture's Top500 study, today's trendsetters have grown the fastest in recent years.
Companies need to be bolder
More than half of the companies (54%) that were classified as Digital Followers in 2016 have since moved up to the next higher profile, Digital Maintainers. However, 43% of Digital Followers have not adapted and thus still remain in the Digital Followers category. In addition, almost half of the companies (48%) that were classified as Digital Trendsetters in 2016 had to be downgraded to Digital Maintainers.
"The fact that some Swiss companies have not evolved since 2016 indicates a great potential for development in terms of digitalization," comments Thomas D. Meyer, Country Managing Director Accenture Switzerland. "Companies lack the courage to create new industries and standards. Furthermore, they would need to adapt organizational structures to equip themselves for digital trends; moreover, it is also essential to invest in simple and intelligent interactions, such as artificial intelligence."
Learning to understand digital innovation
Companies can actively influence the maturity of digitization by better understanding the mechanisms of digital innovation and digital asset monetization. Digital innovation is based on the ability of companies to continuously develop innovative solutions for their customers. This, in turn, depends on the use of new technologies and a customer-centric service design philosophy (such as design thinking).
In general, the progress of innovation processes at Swiss companies has led to a higher digital index and corresponding segmentation. The DNA of companies' digital maturity is now visible in all industries. Key influencing factors are, in particular, a high level of commitment on the part of corporate management and an organizational orientation with a strong focus on the digitization of products and services.
Source: Digital Index Switzerland 2017
