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What does a technology investment do for a business?

How are the top organizations standing out digitally?   CIO Dive with this:

  • Technology, labor, outsourcing and overhead costs across general and administrative functions drop 29% among the “digital world class,” organizations with top digital performance, according to research from the Hackett Group released in June. 
  • World-class digital companies operate with 26% fewer overall full-time equivalents, decrease labor costs per end-user equivalent by 33% and realize 41% lower outsourcing costs — despite spending 3% more on technology than non-world-class peers. 
  • By investing 36% more money on software as a service, the digital world class improves agility, responsiveness and resilience. Those advanced companies also spend 63% more on emerging technologies such as machine learning, natural language processing and blockchain than their counterparts.

Why do we care?

This is the data to justify IT services.       Advanced companies are investing in technology, and here’s the direct measurements to show the results.    Oh, and don’t miss out on that Software as a Service detail.  I’m working on my thinking about the SMB business of the future, and that tidbit colors a lot of my thinking. Thinking about how your customer should operate, even more than your own operation, will result in much more aligned services.