Canadian businesses face a massive wave of digital transformation, according to a new report released on Wednesday by MNP.
The report, Capturing the Change Wave: How Canadian Businesses are Transforming, says:
- eight in 10 businesses have at least one technology advancement underway;
- three-quarters have used a technology support provider to help manage their transformation;
- nearly four in 10 are making digital enhancements to products and services or are involved in some platform integration efforts.
The study also found that 86 per cent of Canadian businesses are experiencing or anticipate a business transformation in the next 12 months.
“Canadian businesses have long been criticized for being digital laggards,” says Trent Bester, senior vice-president, consulting, at MNP. “Our results indicate the start of an important shift but there needs to be a real sense of urgency. In terms of technological readiness and digital competitiveness, Canada is languishing behind.”
The report was based on a survey of 1,200 Canadian business leaders in multiple industries.
“Being able to adapt in a world where technological breakthroughs are happening at an unprecedented pace is critical to success for Canadian businesses. Technologies are increasing efficiency, cutting costs and improving competitiveness for companies willing and ready to adopt them,” says Bester.
The report also found:
- 93 per cent of businesses surveyed report that they face some form of barrier that inhibits their ability to transform as needed;
- Canadian business decision-makers see many challenges with budgets (42 per cent), time and staff (32 per cent) and skills/expertise (27 per cent);
- 32 per cent report that they are making technology-driven changes to workforce and workplace models.
Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.
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