Insights

The Top 3 Benefits of a Digitally Mature Organization

David Breitling, Digital Strategy Lead, UST

Our previous blogs in this four-part series discussed the four hallmarks of digitally advanced organizations, the four things digitally advanced organizations do differently and how digital transformation drives tangible customer value.

The April 2021 commissioned study conducted by Forrester Consulting on behalf of UST identified that digitally advanced organizations have different mentalities, goals, and outlooks.

But ultimately most, if not every, organization shares the same focus — serving customers, increasing revenue, and finally becoming a Resilient Enterprise. This is where digitally advanced enterprises perform significantly better than digital beginners. Here are three significant reasons why the journey to becoming digitally advanced is worth the effort.

#1: Improved KPIs

No matter what KPIs your organization prioritizes — net value creation, security and compliance metrics, or business agility, for example — digital advanced firms come out ahead. Digital beginners seemingly put an outsized focus on cost savings, yet only 73% were successful in lowering costs compared to 100% of digitally advanced firms.

#2:Net Customer Growth

This is where digitally advanced firms can outmuscle their competition. Forrester reported that advanced firms saw 11.28% customer account growth in 2020 compared to a 2% decrease reported by digital beginners. Even more impressive, 73% of advanced firms believe they are either the fastest growing industry or among the leaders.

#3: Accelerated Revenue Growth

Digitally advanced firms can anticipate revenues to increase at an accelerated rate. Almost 3 in 4 firms report “an average growth rate of over 12% (versus 4.69% for beginners),” per the UST-commissioned Forrester study. While the rapid vaccination rollout in some countries has struck a tone of optimism, uncertainty remains, and the revenue growth gap will likely continue to increase between the digitally advanced and digital beginners.

By now, it should be clear how digitally advanced firms succeed where digital beginners fall behind. We encourage you to read the complete Forrester study to discover how to become a resilient enterprise that demonstrates digitally advanced thinking. And check out our previous blog posts on the Forrester study here, here, and here.