Monday, May 27, 2024

By 2025, 46% of corporate revenue will come from digital products


Tata Consulting Services (TCS), the world’s leading business, technology and engineering services and solutions provider (BSE: 532540, NSE: TCS), has released a global survey on how, when and what leaders will compete in the new decade: Tata Global Leadership Study 2021 The findings of “Consulting Services” are based on a survey of 1,200 CEOs and senior executives.

With in-depth information such as 80% of leading companies agreeing to collaborate with them, this study revealed significant differences in the (combined) digital strategies of the best performing companies (leading companies) and regression companies. Competitors compared to subsidiaries, and survey participants expected 46% of revenue to come entirely from digital products or services by 2025, and leading companies expect this number to reach 56%.

The study was carried out by the think tank of Tata Consulting Services, a leading think tank that provides critical research to help companies achieve long-term change and sustainable growth. The study explores how major global companies have changed their strategies since the outbreak by 2025, and examines how management groups around the world in particular strike a balance between innovation and trust in four key areas: digital strategies, digital services, business trends and leadership trends.

Krishnan Ramanujam, Head of Business and Technical Services, Tata Consulting Group, said: “Top executives should always lead their companies to greater competitiveness and digital transformation will speed up the process.

This study examines the behavior of leading companies globally and their confidence in the enormous digital opportunities available over the next five years as the culture of these companies needs to adapt to the required innovation mindset.

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At Tata Consulting Services, we use the ‘Three Prospect Transformation’ framework to help companies nurture innovations that enable them to compete more efficiently.

Among the most important results of the study were:

Innovation was standardized as a key feature of corporate culture, followed by diversity, inclusion and equal opportunities in second place, good organization in third place and importance of customers in fourth place.

o Leading companies place the importance of customers above the value of their internal cultural priorities, while subsidiaries place them sixth, indicating that the best performing companies have adopted the “customer first” mentality in various areas of their organizations.

Survey respondents believe that 41% of their revenue will come from new products and services by 2025, while leading companies believe that 44% of their revenue will come from new products and services, while this number drops to 40% for subsidiaries.

Participants expect 46% of revenue to come from digital products or services by 2025, and leading companies expect this figure to reach 56%.

When asked what is needed to use data more efficiently, the study participants first lined up digital marketing campaigns followed by sales and customer service initiatives, i.e. these companies need to improve customer data demand and improve customer experience.

This report provides data-driven recommendations that enable open-minded CEOs to develop strategies to improve the performance of their organizations.

“Global Leadership Survey 2021” by Tata Consulting Services surveys more than 1,200 CEOs and top executives across a wide range of sectors, including retail, industry, insurance and banking. Finance, health and other from four key areas around the world. Japan), Latin America (Colombia, Brazil and Mexico), all participating companies had revenues of over $ 1 billion, with an average revenue of $ 14 billion.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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