EY surveyed 305 CEOs to reveal perspectives on the future enterprise. Thriving companies are building for the future and increasing transformation spend; surviving companies are protecting what they have.
While many companies raised spending on digital transformation, few have been able to drive value at scale. Per HBR, $1.3T was spent on digital transformation in manufacturing with $900B wasted. Waste is driven by projects not aligned with company strategy (32% of companies), performing redundant work because of uncoordinated projects (34%), programs over-budget (44%), programs not delivered on time (42%) and lack of delivery effectiveness in transformation programs (50%+). To get it right, a direct link between business/digital strategy is critical with focus on ROI and culture change a necessity.
MOSIMTEC simulation modeling can help your company transition from a survivor to a thriver with digital transformation. Review options virtually to build your business case and forecast ROI. Run virtual pilot projects to see what works and what doesn’t before implementing in the real world. Test project implementation plans to maximize success rate. MOSIMTEC industrial engineers/data scientists can help you get it right the first time.
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Read more here: https://www.ey.com/en_us/ceo/the-ceo-imperative-how-has-adversity-become-a-springboard-to-growth