Survey: Business Leaders Report Increased Revenues, Savings and Improved Productivity From Tech Investments Accelerated by COVID-19

Randstad US survey found that 64 percent of organizations have increased revenue as a result of digital technology investments

Nearly seven in 10 business leaders and decision-makers say that investments in digital technologies in 2020 have enabled their organizations to increase revenue, save money and improve productivity, according to a new survey released today by Randstad US.

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While many organizations face budget challenges during the pandemic, investments in digital technologies have positively affected organizations’ bottom lines for 64 percent of respondents to the survey. Additionally, 69 percent of respondents said their organizations have saved money as a result of those investments.

These findings are part of new research efforts by Randstad US entitled “what we know now: the state of digital transformation today,” a survey of 276 C-suite executives, directors, department heads and other decision-makers responsible for technology services, including hardware and/or software purchasing for their organizations.

“The pandemic has accelerated our transition into the digital age, and a change of this magnitude presents both challenges and opportunities for businesses,” said Graig Paglieri, group president of Randstad Technologies Group at Randstad US. “Our findings suggest there is a silver lining to this upheaval: executives report that embracing digital transformation is increasing revenue, boosting productivity and changing the way they think about organizational structures. It is a sign that leveraging the latest technology, forming strategic partnerships and shifting organizational structures can help companies emerge from the crisis stronger than ever before.”

The importance of strengthening an organization’s commitment to the new digital environment is clear, as nearly two thirds (63%) of respondents reported making a greater investment in technology. Organizations are also growing their internal technology talent pools, as nearly half (48%) of all business leaders surveyed said they are increasing staff in key tech areas to address challenges surfaced by the pandemic.

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The survey also found that business leaders are making structural changes to their organizations, with 62 percent stating that it is important to adjust their internal structures to replace traditional hierarchies.

Other key findings from the survey include:

● Sixty-four percent of respondents reported that their organizations have experienced positive ROI from investments in digital technologies.

● Seventy-eight percent of respondents expect that the investments they are making right now in digital technologies will pay off in the long run, and 71 percent said they feel a need to embrace digital technologies now or risk falling behind.

● Forty-five percent of respondents said they can’t implement new digital tools at the speed expected of them by management, with 42 percent saying they lack the resources required to be considered an industry leader.

● Forty-two percent of respondents said they currently lack the knowledge needed to become a digital leader.

● Eighty-six percent of executives said it was “very” or “highly” important to partner with digitally proficient vendors.