24th CEO Survey

Digital transformation can unlock productivity gains

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The wheels have been turning on digital transformation initiatives for some time but following the impact of COVID-19 the momentum, drive and scale has increased exponentially. Many organisations are realising they no longer have a choice and have to transform to remain competitive. For this reason, I see transformation remaining and evolving as a significant focus area for New Zealand businesses. 

Similarly, we are seeing increasing maturity around cloud services. It isn’t a conversation about whether a company ‘should’ use cloud-based technology, it’s about ‘when and how’ they do this, with scale and trust, knowing that data and security is key. Maturity in the local market about cloud is growing. But, there is a conversation needed on how to choose the right technology to support your business transformation and not the other way round, which is often the case.

 To be truly effective, businesses need the ability to have digitisation across their end-to-end process. Having a website can be a start of a digital journey, but it is only a channel and a window into your organisation. It’s the whole backend solution that’s important to truly understand and get right. 

Here in New Zealand, we see this challenge first hand. Many big box retailers can operate online at different levels of lockdown, however the ability to execute the end-to-end sale and delivery of the goods is challenged by a non-digital supply chain. This leads to higher overheads and brand challenges when they are unable to fulfill and deliver on an order. 

The Government has a role to play in digital transformation. On one level there’s making sure we have the right infrastructure in place here in New Zealand so organisations feel safe that they have choices on where data can sit. On another, there is ensuring we are able to attract and retain the right talent to work here. This is difficult right now with the closed borders. A New Zealand-wide solution to this is important as we navigate the pandemic and the future. 

I would like to see the Government support and incentivise New Zealand as an attractive place for providers and talent to come, along with supporting skills and training in STEM through both school and further education.

%
of CEOs plan to increase long-term investment in digital transformation initiatives over the next three years as a result of COVID-19
%
of CEOs are ‘concerned’ about the speed of technological change
%
of CEOs think adequate physical and digital infrastructure should be a government priority

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Wilson Chow

Tracy Taylor

Consulting Markets & Alliances Lead Partner, PwC New Zealand

Tel: +642 2011 6944

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