Are CEOs well equipped for digital transformation?
Newly released research has shone a light on the extent to which CEOs and other business leaders are helping or hindering digital transformation.
In some cases, according to professional services firm Accenture, a CEO’s talk might not match her walk. Having surveyed 8,300 organisations and 885 CEOs across 20 countries, 80% of CEOs claimed to “have the right technologies in place”, while 70% claimed “to be very knowledgeable” about their company’s technology investments. The research, however, also found that only 10% of companies were making an “optimal” investment in technology, generating twice the revenue growth of those lower down on the list.
Such pig-headedness may be having a significant effect on the bottom-line, as Paul Daugherty, Accenture’s chief technology and innovation officer emphasised in a press release: “Most companies are risking significant future revenue growth because of the gap between the potential and realized value of their technology investments.”
A separate report from MIT Sloan Management Review and Cognizant made similar findings. With 4,394 executives surveyed from across the globe, the report found that 71% considered themselves to be “prepared to lead” in the digital economy, closely matching Accenture’s findings. Only 12%, however, agreed that those above them had the same characteristics.
“A generation of leaders in large companies are out of sync, out of tune, and out of touch with their workforces, markets, and competitive landscapes. What got them to their current exalted status won’t be effective much longer — unless they take swift action,” said Benjamin Pring, co-author of the report and director of the Center for the Future of Work at Cognizant. “Allowing unprepared senior executives with outdated skills and attitudes to stick around forces next-generation, high-potential leaders to move on to new pastures, which harms morale and ultimately shifts the organisation further away from where market demand is heading.”
When it comes to digital transformation, it seems, executives would do well to heed the words of that perennial favourite and Nobel Laureate, Bob Dylan: “Your old road is Rapidly agin' / Please get out of the new one If you can't lend your hand / For the times they are a-changin'”.
Five9: the cloud software industry leaders acquired by Zoom
Five9 is the leading provider of cloud contact centre software. Driven by a passion for transforming contact centres into customer engagement centres of excellence, Five9 have a deep understanding of the cost and complexity of running a contact centre.
Founded in 2001, Five9 help contact centres of every size create powerful connections.
The company has over 20 years of cloud contact centre experience, reaches over 2,000 customers worldwide, and annually reaches over 7 billion customer interactions.
Built on a highly reliable, secure and scalable cloud platform, Five9 makes it easy to rapidly trial and deploy new services. Its software also future proofs businesses by supporting AI and other emerging technologies.
Utilising cloud capabilities for improved customer experience
Offering software that creates more successful customer interactions, Five9’s cloud contact centre software increases contact centre productivity. This is without the capital expense and maintenance costs of premise-based systems.
Built on flexible architecture that adapts to a company’s changing needs, Five9 customers benefit from a secure, reliable and scalable contact centre.
Five9’s cloud contact centre platform also gives customers access to an extensive ecosystem of partners. Its platform can be enhanced with leading customer relationship management, analytics, workforce management, performance management solutions and telephony providers.
By utilising cloud technology, Five9 customers have access to the latest capabilities through no-touch, non-disruptive real-time upgrades.
Five9’s recognition for industry-leading software
As a leading cloud contact centre software provider, Five9 has been recognised by leading industry publications and organisations for its success and innovative solutions.
For the fourth consecutive year, Five9 has ranked as a global leader for The Aragon Research Globe for Intelligent Contact Centres 2021.
Five9 was also one of only three providers to earn the MetriStar Top Provider award when evaluated as part of Metrigy’s global 2021-2022 Workforce Optimisation and Engagement research study.
Five9: Zoom’s first major acquisition
Zoom Video Communications has agreed to buy Five9 for about $14.7bn, marking the company’s first major acquisition.
This deal with Five9 will help expand the company’s Zoom Phone offering.
“I believe the combination of Zoom and Five9 will be a game-changer. Joining forces will create a transformative opportunity for two strong companies with complementary capabilities and shared values,” said Five9’s CEO, Rowan Trollope.
With Zoom’s reach and brand, the acquisition will help Five9 propel forward and help the company deliver on its goal of significant international expansion