June 2022 | News | Takeaways

Combating Supply Disruption with Digital Transformation

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Finding effective ways to fight against supply chain disruptions resulting from the pandemic has been top of mind for all businesses of late. Digital transformation appears to be one of the most popular strategies for accomplishing that goal, according to a new report from international spend management company Proactis.

A survey of 1,300 senior business-decision makers in the United States and four European economies shows a new emphasis on using digital transformation. Key takeaways:

  • Major U.S. businesses will invest an estimated $4.4 trillion in digital transformation in 2022 to help their businesses recover from disruption.
  • Digital transformation is seen as the most effective route to improve business resilience, protect margins, and improve trading opportunities.
  • The most common reasons for undergoing digital change are to create efficiencies and increase profitability.
  • 8 in 10 major businesses have already digitized supply chains to tackle disruption.
  • One-third of respondents (34%) identify "secure supply chains" as an area of importance for conducting business digitally, with data analytics and automation of processes also critical to create more agile and fluid supply chains that can more effectively adapt to disruption.
  • On average, U.S. businesses invested $7 million in digitization in 2021 across 10 different areas of business, an investment that is higher than the total average investment across the rest of the major economies surveyed.
  • Cybersecurity and privacy top the list of priorities, with 60% of major U.S. businesses saying that cybersecurity was important in the context of digital business.

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