Engineering companies are less digitally advanced than telecom, banking sectors (Photo: Fraunhofer Institute)
US companies are digitizing their operations at a faster pace than their German competitors, according to a new study by the Boston Consulting Group (BCG).
In a poll ofÂ 700 executives in the US and Germany, the consultants found that 28 pc of companies in the US could be considered digital leaders, compared with only 21 pc in Germany.
Among US companies, moreover, 23 pc were seen as digital laggards, compared with 31 pc in Germany.
The study is based on BCG’s digital acceleration index, which is computed on the basis of how companies assess their own digital maturity across 27 dimensions.
The BCG study is called: "Beyond the Hype: Which Companies Are the Real Champions of Building the Digital Future."
According to the report, US companies identify as a core strength their ability to move ahead with digital projects in their own accelerator centers.Â German companies see their strength in the establishment of clear group-wide goals.
"Ambitious goals combined with a clear implementation plan are decisive for digitalization,” BCG senior partner Michael Ruessmann said in a statement.
The study found that digital leaders come first and foremost from the telecommunications sector and from the banking industry. Engineering companies have a relatively low number of digital leaders amongÂ their ranks.
BCG identified three factors that digital leaders have in common:
Â·Â Â Â Â Â They invest more than 5 pc of their operating costs in digital initiatives
Â·Â Â Â Â Â They are adding digital talent and are increasing jobs in digital areas
Â·Â Â Â Â They have adopted a digital cultureÂ and have anchored the new mindset firmly in the company’s day-to-day operations.