Deloitte: Digital transformations require attention

By Rob Starr, Content Manager, Big4.com

Digital transformations facing large corporations are beyond typical planning cycles and most CEO tenures. This makes good timing absolutely critical when it comes to allocating resources effectively.

“Organisations set to win in the digital economy share these five characteristics,” said Steve Hallam, Deloitte Digital Partner who co-authored the report. “And one thing is certain – being too late is more costly than being too early.”

Leading the economy successfully through such fast changing markets requires new business models, great customer service, competitive intelligence, agility and speed, and talent according to a new report co-authored by Telstra Corporation Ltd and Deloitte titled Taking Leadership in a Digital Economy.

In a recent research paper, Digital Disruption: Short fuse, big bang?  Deloitte predicted a very significant impact from digital technology on eight out of 18 industries that account for 32% of the economy. The most significant digital disruptions were forecast to occur in ICT and media, the financial and professional services industries, retail, real estate, arts and recreation.

The report also outlines the danger of the ‘skills drain’.