At a Glance

  • Businesses still feel fallout from the pandemic, which has created new patterns and constant disruptions.
  • Businesses are rethinking priorities to drive loyalty, strong decision making and technology adoption.
  • While many companies make customer satisfaction a top priority, most dismiss employee satisfaction as a concern.
  • Legacy Technology
  • Poor Customer Experiences
  • Workforce Woes
  • Data Dilemmas
  • Outdated technology is the #1 challenge
  • Lack of interoperability increased 15% year over year
  • 1 in 3 report digital channels are ineffective
  • Only 47% are “highly effective” at delivering high-quality products
  • Ethical concerns from customers have doubled
  • Only about 40% are confident they can maintain customer trust in terms of data privacy
  • Only 34% have addressed work/life balance
  • Only 1 in 5 have remote working options
  • Less than 20% have optimized hybrid working options
  • Only 2 in 5 are fostering a data-driven culture
  • 43% say their data is inaccurate and not useful
  • Less than half (46%) are confident in data-driven decision making

Organizations are still riding the tumultuous waves caused by the pandemic, including rapidly changing customer demands, the “Great Resignation” that has triggered a war for talent, and accelerated technology adoption to fend off competitive threats.

There is no new normal, but rather changing patterns and pressures that are creating fresh waves of technology-focused disruption. Our research shows that although uncertainty should be forcing changes in strategy, most executives say they are unprepared for challenges.

Our research indicates external factors beyond market competition will now significantly affect organizational operations in the next two years.

The Innovation Index provides insights into how organizations are re-centering their priorities to drive three critical elements:

  • Building organizational confidence in decision-making
  • Fostering loyalty with customers and employees
  • Driving performance through technology investments

The constant pressure of delivering quarterly results is challenging, but over the last year, it has required a herculean effort. No wonder most organizations are focused on improving process efficiency and productivity (57%), improving financial performance (64%) and increasing customer loyalty (66%). These ideas are the foundation for most organizations, but in unpredictable times, leaders are refocusing on these priorities to stabilize for future success.