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Accelerating radical growth through interoperability
Value untangled Accelerating radical growth through interoperability
Value Untangled Assets Li brary Click to Interact
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During the COVID-19 crisis, i.e., the last 2 years, my organization has (agree + strongly agree) We’re in the era of compressed transformation. Adopted tech and tranformed business much faster than ever before It is an unpredictable world where ability to quickly adapt to new circumstances, adopt new technologies and otherwise remain Transformed multiple parts of the business at the same time nimble allows companies to thrive. Nearly half of all companies have transformed several parts of their Handled exponential growth in online business/hybrid work arrangements business faster than ever in the last two years. N = 4053 Note N ote : The percentages represent aggregate of respondents selecting "Agree" and "Strongly Agree"
It’s time to untangle your tech. Defining our terms: Businesses need to be more agile than ever. The proliferation of applications, all Interoperability is when enterprise applications can easily connected to a strong digital core, offers interact with each other and exchange data. A seamless user competitive advantages for industry and experience across applications creates a single source of data function. truth that aligns everyone to common goals, leading to better decision making, human connections and insight generation. The key? Interoperability. Seamlessly Composable tech is proven, repeatable solutions that can be connected enterprise applications can: configured and reconfigured at speed to address changing • Speed up digital transformation business needs. This compresses transformation, setting the stage for rapid value realization. • Enable a deeper understanding of shared data • Build better human connections • Make it easier to adapt at the speed of change
Interoperability isn’t a new concept. Technology changes have made it easier for organizations to configure and reconfigure applications as needed without overhauling their digital core. One in three companies is capitalizing on these technological advances to untangle the value trapped within their organization.
Average revenue growth last FY (in %) Interoperability accelerates growth. 5pp of additional growth due to platform exploration Companies with high and interoperability interoperability unlocked up to five additional percentage points of revenue growththan low/no 3pp of additional growth due to platform exploration interoperability companies stuck in the technology status quo. 6x 4x Source: Accenture Research based on Survey data. Note: Additional growth rates due to increased platform exploration and seamless interoperability are estimates based on an econometric model such as Revenue Growth i= A x medium interoperability + B x high interoperability + C controls + error, in which the baseline is the low/no interoperability group. Estimates include a variety of firm-specific controls including industry, country, size, technology spending and an interaction term between industry and country. A variety of robustness checks have been performed (i.e., scaling revenue growth by industry averages, by previous growth rates and the results holds. Survey sample= 4,053 firms in 19 industries and 23 countries. Revenue growth percentages have been rounded off to the nearest whole number. Last FY implies the latest annual company financials reported before February 2022.
Creating long-lasting value OPERATE MORE STRONGER FINANCIALLY SUSTAINABLY • 5pp of additional revenue growth • 4pp more likely to be • 2.9pp of additional profitability growth or higher ability to cut costs successful at embracing sustainable business practices OPERATIONALLY EFFICIENT HIGHER PACE OF • 12pp better at improving HIGH TRANSFORMATION their supply chain and INTEROPERABILITY • 11pp more likely to adopt operations technology and transform business at much faster rate BETTER AT CX MORE PRODUCTIVE WORKFORCE • 16pp better at reinventing • 12pp more likely to be successful when improving employee customer experience productivity is a priority Notes: • pp implies percentage points difference between the results of companies with high interoperability and low/no interoperability • “Better” indicates the difference in percentage of companies with High Interoperability and Low/No Interoperability achieving a specific metric
And this is true across industries Companies across industries—from Life Sciences to Travel—create value, in good times and bad, when they prioritize interoperability. Life Sciences Travel Average revenue growth last FY (in% ) Average revenue growth last FY (in %) 4.5pp of additional growth due to 6.4pp of plataform exploration additional and interoperability growth due to plataform exploration and interoperability Low/No High Low/No High Interoperability Interoperability Interoperability Interoperability N=244* N=250 N=244* N=250 *Note: Data for Life Sciences vertical excludes outliers – companies that grew applications Note: Last FY implies the latest annual company financials reported before February 2022. without increasing vendors (6 in total). Last FY implies the latest annual company financials reported before February 2022.
Factors for success: Composable Tech cloud, composable tech Build repeatable solutions that can be configured and reconfigured at speed and collaboration to address changing business needs Cloud Collaboration Use cloud as the foundation for Focus on empowering employees with shared data and experiences new digital skills, trusted collaboration across applications. and shared definition of success.
Interoperability is value untangled One in three companies is able to develop this level of agility to untangle the value trapped in their organization, racing past their competitors in growth, efficiency and resiliency. Their secret? Using interoperability as the catalyst for total enterprise reinvention. Ready to start your journey to interoperability? Read the full report here.
