Digital transformation now sits at the heart of nearly every industry strategy. It enhances and, in many cases, reshapes or disrupts business models, products, services and operations. When transformation succeeds, its impact on profitability is significant. Our joint study with the MIT Center for Information Systems Research shows that future-ready—meaning digitally transformed—companies are 16% more profitable than their peers.

But, companies that are future-ready don’t arrive at that state overnight; they have to climb what we refer to in our digital maturity model as the ladder of digital transformation, journeying in stages from “Analog” to “Digitally agile”.