- On November 23, 2020
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- CIO, CTO, SAP, SAP Business One
The CEO Role in Best-Run Midsize Companies: Strategically Leveraging Intelligent Technologies
100% of CEOs in best-run firms surveyed indicated a “good” or “very good” ability to get the right data to provide insight
across the business.
Companies of all sizes continue to adapt to the digital economy, looking for new and more efficient ways to drive revenue, empower employees, and respond to customer needs. CEOs, presidents, and business owners in midsize companies face special challenges: they often lack the resources of larger firms but don’t have the flexibility/agility of smaller ones.
IDC conducted a survey of 1,957 midsize firms (with 100-1,000 employees) worldwide to identify key factors associated with business success and measure progress towards becoming a best-run, digitally-engaged company.
- Effective engagement with digital transformation needs to start at
the top. Siloed, departmental efforts can have some impact but will not yield the benefits of a comprehensive, coordinated CEO-driven effort.
- While CEOs in all segments cite increasing revenue as a top business priority, those in best-run and striver companies more frequently name three key priority areas: improving customer experience; improving business agility and responsiveness; and introducing new business models
- CEOs in best-run companies have been effective in leveraging technology to help drive strong business performance — but the
question is whether current technology can support future needs.
- At best-run companies, executives and other centrally located leaders are more frequently cited as sponsors of digital transformation initiatives. Laggards are more likely to drive digital transformation efforts from individual functional areas
such as marketing and finance.
- Becoming a best-run company requires investment in developing higher-level enterprise intelligence and associated people, technologies, and practices.
Have more questions about how SAP Business One can work for your organization?
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Read How CEOs in Best-Run Midsize Companies Leverage Intelligent Technologies