25 Agile Business Stats SMBs Must Know
We’ve put together 25 of the most important agile business stats to help give an understanding of just how important it is for a modern SMB to implement agility through technology.
Business agility refers to the adoption of modern technologies and solutions with which an organization can dramatically improve their productivity, efficiency, and ultimately their profitability.
Related Post: What Is Business Agility?
One of the most common ways that SMBs improve their agility is by installing a company-wide ERP system to unify and leverage their data in an actionable manner that wasn’t previously possible.
Other ways businesses improve their agility is through productivity suites, custom apps, and a solid disaster recovery plan.
Take a look at these stats to see how crucial it is for you to have plans in place for a more agile company.
1. Research from McKinsey indicates that agile transformation can reduce time to market by at least 40%.
2. Costs savings as a result of improved business agility are estimated to range from 20 to 30%.
3. Over 60% of professionals state that their industry is being disrupted or has unpredictable market conditions.
4. An estimated 71% of businesses have low business agility according to a survey by the Business Agility Institute.
5. 74% of workers say that employers do not give them access to the latest technology to help them do their job more effectively and efficiently.
6. The top three performing industries when it comes to agile organizations are Consulting (41% of companies rated very agile), IT (26%), and Financial Services (7%).
7. A survey of employees found the most common obstacle for digital transformation was the CEO at 35%.
8. 59% of professionals say culture and performance management are the key challenges in their shift towards agility.
9. 70% of businesses indicate an ambition to integrate both Business and IT-enabled Agile transformation in the next three years.
10. 81% of organizations have started their agile transformation within the last three years.
11. 45% of businesses indicate that breaking down silos between business and IT is a main driver for their shift towards agility.
12. 56% of CEOs say digital improvements have led to increased revenue.
13. Digitally mature companies are 23% more profitable than their less mature peers.
14. Digital-first companies are 64% more likely to achieve their business goals than their peers.
15. 93% of companies consider innovative technologies as necessary to reaching their digital transformation goals.
16. 60% of businesses in North America use public cloud platforms, a five-times jump from the number that used them five years ago.
17. 60% of executives believe connected technology and the Internet of Things will play an important role in their company’s digital strategy.
18. In a survey of executives across verticals, the top benefits of digital transformation were improve operational efficiency (40%), faster time to market (36%), and meet changing customer expectations (35%).
19. 87% of CIOs believe providing employees with digital technology will drive at least 5% more revenue over 3 years.
20. 87% of companies believe that digital transformation and business agility provide a competitive opportunity.
21. 94% of IT survey respondents reported significant benefits from adopting SaaS.
22. Intelligent systems will drive 70% of customer interactions by 2022.
23. 60% of companies think they have a good mobile experience, but only 22% of customers agree.
24. 71% of digitally mature companies say they can attract new talent based on their use of data, compared to 10% of early-stage digital companies.
25. 55% of companies that have yet to implement a plan for business agility and technology believe they have less than a year before they start to lose market share.
In light of this year’s events, many organizations have found themselves playing catchup, trying to implement makeshift cloud solutions to make up lost ground while their workforces see drastic transformations.
To find out more about how the cloud can ensure your business is in good shape for the future, download our eBook, “Which Cloud Option Is Right For Your Business?”