Why IT Is a Critical Differentiator, Growth Driver
A significant share of mid-market level executives reported that their company's leadership now views technology as a critical differentiator and growth driver, according to a recent survey from Deloitte. (In this survey, "mid-market" refers to companies with annual revenues ranging from $100 million to more than $1 billion.) The accompanying report, "Disruption in the Mid-Market: How Technology is Fueling Growth," reveals that most C-level leaders are now involved in the adoption of next-generation tech, and many are leading the charge in this adoption. For example, they're increasingly interested in analytics tools, as they seek new ways to make more informed strategic decisions. As a result, overall technology spending is up, as most organizations view IT as a critical contributor to innovation and the improvement of business processes. "It is becoming harder and harder to separate technology from business strategy and performance," said Stephen Keathley, a principal with Deloitte Consulting LLP and a national technology leader for Deloitte Growth Enterprise Services. "Technology now touches essentially every business function—from sales and marketing to human resources, from finance to operations and compliance. The C-suite's growing involvement in these critical decisions is a welcome development because, more often than not, the business impact of new technology is directly related to the level of support and commitment received from the highest levels of the organization." Approximately 500 executives at mid-market companies took part in the research, which was conducted by OnResearch.