Middle market digital strategies are shifting—influenced by COVID-19
INSIGHT ARTICLE |
A new RSM survey finds middle market companies across a range of industries see the benefits of developing a digital transformation initiative, with the majority prioritizing their digital strategy. However, the COVID-19 pandemic has had a significant impact on technology plans, with many companies rapidly making adjustments to keep key processes operational and, in many cases, developing a new workforce structure to sustain productivity and keep employees safe.
The 2020 RSM Digital Transformation Survey recently polled C-level executives in five critical middle market industry sectors—retail, food and beverage, manufacturing, health care and banking—to understand how companies are using technology and crafting overall technology strategies. The survey provides insights into the innovation strategies of peers, and highlights potential opportunities for improvement.
The survey evaluates several key innovation areas, including:
- How middle market companies are prioritizing digital transformation
- The expansion of digital roles and responsibilities
- Which technologies companies are focusing on
- How the COVID-19 pandemic is changing digital investments
While not all digital transformation approaches are appropriate for every company, lessons can be learned by understanding the steps peers are taking to utilize innovation, as well as the investments they are making.