Welcome!

News Feed Item

Deloitte Survey: Mid-Market, Private Companies Capitalize on Technology to Tap New Business Potential

Adoption and management of information technology allows for increased productivity and greater customer intimacy

NEW YORK, Nov. 15, 2017 /PRNewswire/ -- Mid-market and private companies are demonstrating their commitment to harnessing new technology, according to a new Deloitte report, "Technology in the mid-market: Closing the gap," published today. For companies in this market segment, digitization is proving to be a growth-enabler, customer-relationship builder, and overall asset to improve productivity.

www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. (PRNewsFoto/Deloitte)" alt="As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. (PRNewsFoto/Deloitte)"/>

For five consecutive years, Deloitte Growth Enterprise Services has explored technology trends and their impact specific to mid-market and private business in the U.S. economy. Deloitte surveyed 500 executives from mid-market companies, and found this year that more than a third of respondents are spending more than 5 percent of their revenue on technology resources. It's the highest level of investment seen to date.

"This year, the research proves that technology is the tool that allows mid-market companies to leverage their inherent agility and open up opportunities for business, especially for those that are smaller in scale and revenue," said Anthony Stephan, principal, Deloitte Consulting LLP and U.S. technology strategy and transformation leader. "Mid-market business leaders see value in supporting technology investments and are steadily increasing organizational support to enable their success."

Digital capabilities invigorate business models and goals

As emerging technologies take shape in mid-market companies, businesses across industries are shifting priorities and resources to capitalize on investments they anticipate will have the most impact on increasing productivity, improving customer engagement and predicting business outcomes. The survey showed:

  • Achieving greater customer intimacy is at the heart of companies' social platform strategies, according to 34 percent of respondents.
  • Fifty-eight percent use data analytics for sales and customer management.
  • Among firms using machine intelligence, 62 percent believe it's helping analyze business outcomes.

When it comes to driving productivity and efficiency through technology trends, big data, information security and cloud integration have the most potential. Reliance on cloud-enabling services continues to increase among private and mid-market companies. For the second consecutive year, respondents said the top reason they chose cloud-based solutions was to improve the speed of implementation of technology solutions. 

Furthermore, increasing the accuracy of forecasting and reporting business results tops the list for uses of data analytics with 65 percent of respondents.

While still in its infancy, mixed reality — which combines the benefits of augmented reality, virtual reality and the Internet of Things — is showing potential as a strategy to achieve widespread business goals with two-thirds of mid-market respondents experimenting, building or successfully deploying mature applications. The survey showed:

  • More than 30 percent of companies are in deployment stage.
  • Fifty-two percent use it operationally.

Mid-market takes a human-centric approach to technology

It's clear that the people behind technology, at all levels of an organization, play an important role from adoption through implementation. This year's survey points to an increased collaboration within the C-suite, with 34 percent of respondents revealing that business and information technology leaders are strategically managing the adoption of new and emerging technology together, up from 24 percent in 2016.

"With the stakes higher than they've ever been, engaged and active leadership sets the tone for operationalizing tech in the mid-market," said Stephan. "And it's not just leadership — it demands accountability at all levels to confirm the people pressing the buttons are carefully trained and well-educated in the technology."

With the investment and adoption of these technology assets, the focus on cyber security is intensifying

Once again, survey respondents rank cybersecurity as the top risk, but this year, executives also closely view its possibilities:

  • Forty-eight percent of respondents say managing cybersecurity and information security risk is the top tech investment priority for the coming year.
  • Despite this investment, the perceived benefit of investment in information security ranks third with analytics.

More mid-market companies are leveraging the next phase of their investments to respond with agility and speed. The survey showed:

  • The percentage of companies investing in advanced security hardware to mitigate security risks jumped almost 10 percentage points from 2016 (46 to 55 percent).
  • Thirty-four percent plan to use blockchain to store and secure digital records.

Deloitte Growth Enterprise Services delivers the resources and experience of the global leader with the personal touch of a trusted professional advisor, offering a distinctive client experience and delivering audit and assurance, tax, consulting, and risk and financial advisory services tailored to the needs of growing mid-market and private companies.

Deloitte Private is exclusively focused on serving private clients of all sizes and driven to address the opportunities and challenges unique to private businesses. Deloitte Private delivers audit and assurance, tax, consulting, and risk and financial advisory services tailored for private companies, including family-owned businesses, closely held (nonfamily) businesses, and private equity and venture-capital-backed businesses.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including more than 85 percent of the Fortune 500 and more than 6,000 private and middle market companies. Our people work across more than 20 industry sectors to make an impact that matters — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthy society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them.  

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

View original content with multimedia:http://www.prnewswire.com/news-releases/deloitte-survey-mid-market-private-companies-capitalize-on-technology-to-tap-new-business-potential-300553813.html

SOURCE Deloitte

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to close th...
Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams. In his session at 22nd Cloud Expo | DXWorld Expo, Daniel Jones, CTO of EngineerBetter, will answer: How can we improve willpower and decrease technical debt? Is the present bias real? How can we turn it to our advantage? Can you increase a team’s effective IQ? How do DevOps & Product Teams increase empathy, and what impact does empath...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
You know you need the cloud, but you're hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You're looking at private cloud solutions based on hyperconverged infrastructure, but you're concerned with the limits inherent in those technologies. What do you do?
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...