Canadian companies continue to grow investments in digital technology in order to drive greater business value. In fact, nearly half of Canadian companies surveyed (44%) allocate more than 15% of revenue to digital investments, finds a PwC report.
“A growing number of [companies] are skillfully using digital technology to shift not only customer expectations but also entire business models,” says Philip Grosch, partner and national digital services leader, PwC Canada.
He adds, “Digital has already had a profound impact on the way we use data to create insights and on the way technology is deployed by the enterprise in the age of cloud. Organizations need to weave these realities into all aspects of their business—their strategy, structure, how they engage with employees and customers and how they innovate and deploy new technologies.”
Here are some additional findings.
- 65% of Canadian CEOs (compared to 73% globally) are seen to be the champions of digital;
- 45% state their number-one expectation from these investments is revenue growth, followed by 25% seeking better customer experiences and 12% aiming for improved profitability; and
- 31% of global respondents state they are investing more than 15% of revenue into digital investments.