In the face of a business environment plagued with uncertainties, organizations are turning to technology to help lower costs and optimize productivity, and with good reason. Among McKinsey-surveyed companies in 2020 that were able to successfully undergo a tech transformation, 50 percent reported moderate to significant impact on realizing new revenue streams, almost 70 percent reported impact on increasing existing revenue streams, and 76 percent reported impact on reducing costs. But modernizing technology requires companies do multiple things well to capture all the value that’s there for the taking, write partners Anusha Dhasarathy and Thomas Elsner, and senior partner Naufal Khan. Dive into these insights to understand how to compete and succeed in a digital world.
The Tech:Forward recipe for a successful technology transformation
Prioritizing technology transformations to win
McKinsey Technology Trends Outlook 2022
Seven lessons on how technology transformations can deliver value
Managing the fallout from technology transformations
Tech-enabled business transformation: The trillion dollar opportunity