The digital transformation is currently one of the main trends in Polish entrepreneurship. 8 out of 10 large companies and corporations in Poland assess the level of digitisation of their business at least well. At the same time, 90% of large companies note that the digital transformation of business has a positive impact on the level of their revenues.
Companies investing in business digitisation can expect higher revenues
In 2019, ICAN Research Institute together with Orange Polska (Orane Insight) carried out a research project “Digitization of large companies and corporations” (e.g. survey interviews with 304 large companies and corporations) to check how investments in the digital transformation of business translate into revenues of Polish enterprises. The results of the survey show that the level of digitalization of Polish enterprises is high in relation to foreign companies – 83% of the respondents assess the level of digitalization of their company at least well. For comparison, in the earlier edition of the survey of 2018, the corresponding ratio was 76%. The quoted survey shows that Polish companies investing in digitalization are most focused on IT changes in the areas of sales digitalization (65%) and after-sales processes (41%).
In the opinion of the respondents, optimal digitisation of enterprises also translates into measurable business effects. The vast majority of companies subject to the survey claim that the process of digitization of their operations allowed to increase the level of income generated by them. The percentage of companies seeing such dependence increased from 73% in 2018 to 89% in 2019. This is largely related to building a significant competitive advantage in the market.
The impact of digitisation on company revenues depends on the industry
ICAN Research shows that the digital transformation of business has a different impact on individual economic sectors. The greatest correlation between digitisation and revenue growth (in the opinion of respondents) can be seen in the service, retail (mainly due to the development of e-commerce) and manufacturing sectors.
The digital transformation of business: costs must be borne first
The digital transformation of business is an inevitable phenomenon, which sooner or later should cover the vast majority of the Polish business ecosystem. However, this process is often very costly. Investments in technology, analysis or tools are needed, but also human resources, including a team of experts in fields such as new technologies, big data and artificial intelligence. On the other hand, such an investment effort in the perspective of subsequent periods of the company’s operation translates positively into generated revenues.
The potential of business analytics
One of the important areas of digital business transformation is business analytics, which is a key element in building the organization’s competitive advantage, resulting in better sales results. Currently, this solution is used by a small number of companies in Poland. It turns out that a wider implementation of business analytics in Polish business is hindered by specific barriers. According to the Orange Insights study, the key problems concern the data itself, which are incomplete and outdated (63%), unstructured, requiring consistent naming and grouping (49%), as well as not extensive enough to be used for advanced analyses (54%). Lack of competence in analytics (54%) has become problematic in almost every other company, especially from the perspective of management boards.