In recent years digital transformation has emerged as one of the topics that occupies businesses’ agenda the most. Companies have been investing in digitalization in all areas from finance to human resources, from supply chain management to production.
According to Ernst & Young's Global Banking Outlook Survey1, banks operating in Turkey are planning to increase their technological investment budgets by 27.8 percent within 12 months. In Turkey, 50% of bank executives report that they are investing in artificial intelligent, Internet of Things (IoT), and cloud computing, and those investments will grow within the next three years while 75% report investment in cyber security technologies, with a gradual increase over years.
Similar to banks, investment plans and business strategies of companies also tend to focus on technology to develop more digital systems and processes. Ernst & Young's Digital Deal Economy Study2 of more than 900 executives in 26 countries demonstrates that digital innovation continues to increase its impact on companies' performance today and companies that aspire to a sustainable success should develop a digital strategy. According to the results of the study; 90% of businesses worldwide focus on digital priorities in capital allocation.
Digital transformation will continue to be in businesses’ radar for agility and efficiency as well as cost saving. Considering the speed of digitalization today, businesses can only survive in the future if they invest in digitalization of systems and processes and embed it in their strategy and corporate culture.