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Siloed tech strategies may lead to lost revenue, growth

October 03, 2019 / Valerie Bolden-Barrett

C-suite members are making significant investments in technology, but often only in certain silos or pockets of their organizations, creating what Accenture researchers in a survey report called the "innovation achievement gap." This gap separates technologies that have delivered results from those with potential alone, the researchers said. Accenture surveyed more than 8,300 organizations and scored them on certain tech adoption and cultural criteria. In the report, those organizations that scored in the top 10% of respondents were termed "leaders," while those who scored in bottom 25% were termed "laggards." Accenture said in a statement that leaders had double the revenue growth of laggards. In 2018 alone, laggards had 15% "foregone annual revenue," and that figure could increase to 46% in foregone annual revenue by 2023 if such organizations do not change their approach to technology, Accenture said.