Facebook Linked In Twitter
GAP Vassilopoulos

Kostrikis: In Three Weeks We Should Return To Pre-Outbreak Epidemiological Levels

Talks On ‘Yishai’ Gas Field On Track Says Cypriot Energy Minister



brought to you by PWC

PwC Survey: Only 1 in 5 Companies Claim an Excellent Digital IQ

PwC Survey: Only 1 in 5 Companies Claim an Excellent Digital IQ

Though many organisations lay claim to being a digital enterprise, only a minority – 20% – are truly there, according to the 6th Annual Digital IQ Survey report released by PwC. In the report, PwC explores organisations’ ability to understand, value, and weave technology throughout the enterprise – their Digital IQ.


In this year’s study of nearly 1,500 executives – split equally among business and IT executives – PwC has identified the actions and investments that are integral in high-performing digital enterprises today.  Companies that demonstrate these five digital behaviours, as described below, are more than twice as likely to be top-performing companies in revenue growth, profitability, and innovation.


•    Behaviour 1: CEO actively champions digital 
A digital CEO sets and steers the company’s digital vision and tackles the inevitable challenges that come with new ways of doing business.  PwC’s analysis reveals that 81% of top performers say their CEO is an active champion in the use of IT to achieve business strategy, compared with 68% of other companies.  


•    Behaviour 2:  Strong CIO-CMO relationship 
According to the survey, the relationship between the Chief Information Officer (CIO) and the Chief Marketing Officer (CMO) has become critical: 70% of top-performing companies say they have a strong CIO-CMO relationship, compared with just 45% for non-top performers. The CIO continues to be internally focused and there has been virtually no change in involvement around customer and product innovation during the last six years. The CEO must ensure that marketing and development teams engage the CIO in early discussions around product, service, and customer innovation.


•    Behaviour 3: Outside-in approach to digital innovation 
Top performers in PwC’s study are more likely to look to outside sources such as - industry analysts, vendors, universities and labs- to fill their idea pipelines, in addition to internal sources. But all companies tend to rely most heavily on traditional sources like internal planning sessions and workshops. 


•    Behaviour 4: Significant New IT platform investments
While investing in disruptive technology is crucial for innovation, top-performing companies realize they need to think bigger. They are innovating how they think about IT and remaking it to better meet the needs of the business. PwC refers to this model as the New IT Platform -- a thorough approach, addressing how IT’s mandate, processes, architecture, organisation, and governance must change to keep up with the business.


•    Behaviour 5: View digital as an enterprise capability 
PwC suggests organisations should begin broadening how they think about their digitally-savvy resources, realising that it is becoming essential to have an IT capability that is woven throughout the business rather than only centralised in a single function.


With a balanced digital capability that spans the business, what matters more than where the specific skills or resources are located is having a shared understanding of how it all fits together to accomplish the organisation’s goals, who is responsible for each aspect, and a way to keep everyone in the loop.  Achieving this level of collaboration requires IT to fully understand all aspects of the business—and for business to understand IT equally well.


6th International Compliance Forum: Audit Now and in the Future

IMH is organising the 6th International Compliance Forum on 24-25 September 2020 to ...

PwC Survey: Adoption Of New Behaviours And Trends Accelerating After The Pandemic

The acceleration of consumer trends and behaviours that was already underway prior to the ...

AXIA Ventures Group Wins Best Investment Bank Greece Award By Euromoney

AXIA Ventures Group (“AXIA”) was declared Best Investment Bank Greece for the ...



The Legal Profession Under The Microscope

The 2nd Cyprus Legal Conference, organized online by IMH, takes place on Wednesday 9 September, 2020 at 16:00. The Conference will host speakers from Cyrus and ...

Minthis Property Collection And The Design Diversity

Pafilia is always at the forefront of innovation in the real estate market thanks to its visionary approach and the determination to push boundaries. With the ...

Cyprus, France to Boost Defense Ties Under Cooperation Deal

A Defence Cooperation Agreement between Cyprus and France has entered into force on August 1. With the agreement the two countries` cooperation in the fields ...

Leondios Kostrikis: In Three Weeks We Should Return To Pre-Outbreak Epidemiological Levels

The virus that causes COVID-19 has become more adaptable, Dr. Leondios Kostrikis, Professor of Molecular Biology at the Department of Biological Sciences of ...

Talks On ‘Yishai’ Gas Field On Track Says Cypriot Energy Minister

Cyprus-Israel talks seem to be on the right track regarding Israeli "Yishai" gas field adjacent to Cyprus’ "Aphrodite" field, as ...

New Book By Blair Sheppard, Global Leader For Strategy & Leadership Of The PwC Network

The new book by PwC's Global Leader for Strategy and Leadership, Blair Sheppard entitled “TEN YEARS TO MIDNIGHT: Four Urgent Global Crises and Their ...

EC Opens Investigation Into Proposed Acquisition Of Fitbit By Google

In a press release, the European Commission announced yesterday it has opened an in-depth investigation to assess the proposed acquisition of Fitbit by Google ...

The 4th Project Management Conference: Digital Edition

The Project Management Institute (PMI) Cyprus Chapter is organising the 4th Project Management Conference on 26 November 2020, from 15:00 to 17:00. ...