Digital Transformation will be the Most Valuable Business Investment for 2022

New report shows explosion in Canadian companies adopting a digital strategy to drive positive business results

TORONTO, Dec. 7, 2021 /CNW/ - Canadian companies are embracing digital transformation like never before. A new SAP Canada study conducted in partnership with IDC Canada indicates that digital transformation will be the most valuable business investment Canadian companies can make as they enter 2022.

The survey discovered a big rise in enterprises which have fully integrated digital strategies into their core business. Nearly 40 per cent of those surveyed indicated having this integration – three times more businesses than in 2020. This robust digital shift was critical for Canadian organizations surviving the initial shockwaves of the pandemic delivering business impacts across efficiency, cost reductions, resiliency, decision support and intelligence, sustainability, and customer and employee experience.

"Digital transformation has been on the radar of Canadian businesses for years, but the last year has shown us that interest and value for it has soared," said Brian Moore, Chief Operating Officer, SAP Canada. "We are seeing that organizations will need to continue to fully integrate their operations in the coming year to remain competitive. Simply put, a digital transformation strategy is no longer a 'nice to have' – it's a necessity for organizations to thrive. In 2022, we will see Canadian businesses step away from tactical, reactive enhancements in exchange for developing digital transformation strategies that will enable them to achieve new levels of success."

Data further showed businesses realize digital transformation is necessary and valuable:

• 75 per cent of Canadian enterprises planned on migrating all or some of their applications and data to the cloud in 2021.
• 84 per cent of respondents highlighted that investment into digital technologies either met or exceeded their expectations this year.
• 84 per cent of leaders in the digital transformation space are using technologies to make incremental and continuous improvements to their core business.

Customer experience was also at the heart of the survey with most organizations surveyed (81 per cent) indicating a positive impact on financial performance because of strong client experience. This is an increase of 20 per cent over last year's survey.

Research found a need for integrated collaboration between IT departments and lines of businesses (LOB) to achieve digital transformation ambitions, with 40 per cent of IT and LOB respondents favouring a fully integrated digital plan into their enterprise strategy. This will help Canadian organizations make progress towards becoming digital leaders.

"After completing the sixth-annual SAP survey, IDC expects the benefits of cloud will continue to outpace the challenges, resulting in Canadian organizations using cloud services extensively across enterprise applications and infrastructure," said Megha Kumar, Research Director, Software and Cloud Services at IDC.

Read the full report here.

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About SAP

SAP's strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: SAP customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers' businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people's lives. For more information, visit www.sap.com.  

About the Study

In June 2021, IDC completed a survey of 150 Canadian organizations covering strategic decision makers (VP and above) across IT and LOB with $50 million+ in revenue and a minimum of 500 employees. The study objective was to examine the progress of digital strategy and innovation readiness, explore pathways to the intelligent enterprise, and develop a deeper understanding of the skills required to execute a digital strategy and dynamics between IT and LOB.

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SOURCE SAP Canada

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