Irish businesses need to integrate digital thinking into their business model if they are to retain and grow their markets, according to a new report from BearingPoint.
Though limited primarily to retail companies, BearingPoint quotes DCENR 2013 figures to say that Irish people are estimated to have spent €6 billion online in 2014, but a Government estimate was that only €1.1 billion was spent on Irish goods and services.
The report comes from the BearingPoint Institute, partnered with Innovation Value Institute (IVI), and claims that the convergence and mass adoption of new technologies is creating a new digital environment, where businesses are investing in new skills and looking to their digital-focused partners to provide technological insight and value to their operations.
The report was an opportunity to announce a joint initiative between BearingPoint and the Innovation Value Institute to formulate digital strategies for Irish businesses.
While the report outlines the consistently strong value of physical stores, it argues that through the innovative use of emerging digital technologies, businesses can offer bespoke, personalised services, resulting in new customer experiences.
The report highlighted how car manufacturers, through the use of integrated digital services such as music streaming, automatic traffic updates and anti-theft tracking, are embracing a combination of new technologies to enhance the consumer experience.
However, the report says that there is concern that an unwillingness to adapt to new technologies, or a general ignorance of them, may be holding back Irish businesses.
“Irish businesses can forge an entirely new digital environment using technologies like big data and cloud computing,” said Michael O’Dwyer, partner, BearingPoint Ireland. “These are widely available and widely regarded, and can have hugely transformative effects on a business, particularly in delivering new value to customers. We are confident that the know-how delivered by our new partnership with the IVI will be of huge benefit to Irish businesses in this regard.
“Adoption of these new technologies drives up not only productivity and efficiency, but profitability. An innovative Ireland that embraces this new digital economy will not only remain relevant, but encourage business creation and attract continued foreign investment.”
“We are excited about the collaboration with BearingPoint,” said Martin Delaney, general manager, IVI, “and believe our mix of academic research with BearingPoint’s hands-on digital knowledge gained from working with digital leaders across Europe will help define the digital adoption roadmap which will significantly help Irish organisations accelerate their digital readiness.”
TechCentral Reporters
Subscribers 0
Fans 0
Followers 0
Followers