Save-to-transform as a catalyst for embracing digital disruption
Deloitte's 2019 Global Cost Survey
Cost-management remains a strong imperative around the world. Companies continue to have positive expectations for revenue growth, with many reducing costs to allow for necessary growth. However, in today’s increasingly digital world, businesses also recognize the need to transform their operations and capabilities with infrastructure investments in key digital innovations—shifting from a save-to-grow to a save-to-transform mindset.
Cost cutting, growth, transformation, and digital technologies converge in cost survey results
More and more, businesses are recognizing the need to transform their operations and capabilities with infrastructure investments in key digital innovations such as robotic process automation, cognitive technologies, business intelligence, and cloud-based ERP systems. These digital technologies and innovations can deliver dramatic improvements in competitiveness, performance, operating efficiency, and, increasingly, cost savings.
Based on our survey of more than 1,200 senior executives across all major global regions and industries, we found that cost-reduction remains a global imperative as it continues to be a standard business practice in all regions, with the large majority of global survey respondents (71 percent) planning to undertake cost- reduction initiatives over the next 24 months.
But the story gets more interesting as the prevailing mindset among executives has shifted. Whereas we previously saw a "save-to-grow" mentality with cost- management, we are now seeing the emergence of "save-to-transform."
Download our full report to learn more.