Early technology adoption leads to better business results
We been reading with great interest a new report for Harvard Business Review, sponsored by Verizon which demonstrates the importance of technology for companies looking a competitive advantage. The survey asked 672 respondents, who held senior executive positions in medium to large companies, a number of questions to identify if they viewed their companies as either pioneers, followers or cautious companies. With those individual viewing themselves as pioneers also consider that they outperform their competition and also recognised that the use of technology had made significant changes to the business strategy or model, and to the products and services than both the followers and caution respondents.
What was particular interest to us at the CIOWaterCooler was the attitudes to certain technologies. The first thing to catch our eye was the smaller proportion of pioneer organisations have outsourced a core business function in the last 3 years; with 19% of pioneers, 26% of followers and 21% of cautious companies having done so.
Also of significance was the reasons behind why these companies hadn’t yet invested in certain technologies; with pioneers choosing not to invest due unproven ROI and the view of the appropriateness for the customer/market above any internal cultural resistance to change. One assumes that this is due to more experience of implementing technologies, as demonstrated by the reports findings that mobile technologies and advanced analytics being more extensively used by pioneers than those cautious companies.