Acorio: Financial Services and Healthcare Lead in Digital Transformation Initiatives

Digital transformation efforts are increasing in every industry, but none more so than financial services and healthcare, according to findings in a new report by Acorio, an NTT DATA company and the largest pure-play ServiceNow Consultancy. The third annual Insight & Vision Report captures findings of nearly 500 professionals on digital transformation trends and ServiceNow adoption in their respective companies.

During a period in which every company was forced to rethink its digital strategy due to the unforeseen toll of COVID-19, more than half of respondents to this year's survey reported that their digital transformation initiatives started or increased in importance because of the COVID-19 pandemic. And, as companies eye what the future workforce looks like, nearly 40 percent of respondents listed return to work as a newly important priority for this year.

"Every year our study has confirmed what we are seeing in our own client base: digital transformation progress is steadily being made across the board at companies," Ellen Daley, senior vice president, NTT DATA, said. "But many companies are realizing transformative initiatives are tough and require a cultural shift within the organization as well.

"As the way companies think about digital transformation has evolved, adoption of ServiceNow has increased right alongside of it. ServiceNow is the technology cornerstone driving digital transformation initiatives. Year-over-year, we continue to see companies adopt more ServiceNow products: in this year's study, nearly two-thirds of respondents report using three or more ServiceNow products."

Additional takeaways from this year's study include:

• Innovation in advanced automation is becoming intertwined with digital transformation efforts. In last year's report, 46 percent of the largest companies surveyed (those with 10,000+ full-time employees) reported having ?just started' on artificial intelligence (AI) and machine learning (ML) initiatives. Only 21 percent of the same group reported the same stage in our 2020 survey. Meanwhile, 55 percent of those companies today report having AI, Machine Learning and Automation initiatives underway for a year or more, increasing by 21 percent since last year.
• Digital transformation leaders are becoming more regular. Nearly two-thirds of larger firms reported having Digital Transformation initiatives underway for a year or more, and 15 percent reported being almost done with their Digital Transformation initiatives. That's nearly double the number from last year's report, in which only eight percent of firms reported being almost done with their Digital Transformation initiatives.
• Roadmaps have changed. More than half of ServiceNow roadmaps changed across industries in 2020 due to the pandemic outbreak. COVID-19 served as an unwelcome reminder for businesses that strategies and roadmaps should be built with flexibility and contingencies, because circumstances will change and need to be adaptable during times of crisis.

To download a copy of this year's report, please click here.

About Acorio

An Elite ServiceNow partner, Acorio, an NTT DATA company, is the largest pure-play ServiceNow consultancy in the world. Our commitment is to our clients, to inspire and guide them to realize immediate ROI and ensure long-term success along their entire ServiceNow journey. The firm now employs 300 employees focusing 100 percent on ServiceNow. Headquartered in Boston, MA, Acorio has nine regional hubs across the U.S. and an international presence in Spain and Australia. The consultancy serves Fortune 1000 and Global 2000 clients in multiple industries ranging from healthcare, financial services, manufacturing, to high tech and retail.