Innovation Index
After dealing with uncertainty over the past two years, organizational resilience and innovation is paying off. Overall, executives today are more hopeful about the future and focused on driving growth, controlling costs and improving productivity. Developing engaging customer and employee experiences continues to be key. Discover the digital strategy, investment and innovation lever that business and IT leaders are pulling for success.
Despite continued disruption, executives are less concerned about potential negative impacts from workplace, supply chain and competitive disruption. Investments in reskilling employees, modernizing processes and technologies, and creating new products and services have left respondents feeling better prepared to meet the priorities and challenges ahead.
Key findings
Innovation, a primary source of growth
96% say innovation will be a primary source of growth over the next two years
Sustainability, a top 3 driver of innovation
Sustainability is a top 3 driver of innovation, even ranking above profitability for some respondents
Growth of core-tech
Investments in core-tech set to grow as technology moves from a support function to becoming core to innovation
Innovation culture, critical for success
46% say an agile, iterative and less hierarchical organization structure is crucial for innovation
Explore more findings in our in-depth report.
Outdated technology puts a crimp on innovation
Technology is critical for innovation, but as high as 86% of organizations say their outdated and legacy technology hinders their innovation efforts.
More than 70% are data-challenged
Organizations need to be data-driven, not data-challenged. Our study reveals that more than 70% don’t trust their data, can’t keep up with data regulations and don’t use data as an asset.
Lack of employee skills, the #1 challenge
Talent shortage and the skill gap are as real as it gets. Lack of employee skills for both innovation and data capabilities were ranked as the #1 challenge for organizations striving to innovate.
Process inefficiency and lack of resources hobble CX efforts
Like last year, quality and speed of service were voted most important for customer experience, but inefficient processes and lack of resources to deliver on time hobble CX efforts.