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Irish companies maintain high level of digitalisation but have more to do to match their European peers – BearingPoint

Irish companies maintain high level of digitalisation but have more to do to match their European peers – BearingPoint

Irish businesses must give greater consideration to digitalisation in order to compete at an international level, according to a new report released by a leading European management and technology consultancy BearingPoint. The report, ‘Digital Leaders in Ireland 2019’, assessed companies’ “digital maturity” across six dimensions of digitalisation. Industries including retail banks and telecommunications show the

Irish businesses must give greater consideration to digitalisation in order to compete at an international level, according to a new report released by a leading European management and technology consultancy BearingPoint.

The report, ‘Digital Leaders in Ireland 2019’, assessed companies’ “digital maturity” across six dimensions of digitalisation.

Industries including retail banks and telecommunications show the strongest levels of digital maturity in Ireland. Banks including Bank of Ireland, KBC, AIB and Permanent TSB and telecom companies Sky Ireland, Virgin Media and Vodafone Ireland rank among the highest performers overall.

The report assessed 62 leading Irish companies with a total of 44,000 Irish data points. These companies were assessed against 600 European competitors across six dimensions including digital marketing, digital product experience, e-commerce, e-CRM, mobile and social media.

Of these assessment criteria, Irish businesses were found to perform particularly well in terms of social media and mobile. Businesses are creating on-demand, real-time content in response to the proliferation of smart devices among consumers.

This is particularly true of the manufacturing, media and food products industries.

Top performers across these industry groups include Ardagh Group, Ingersoll-Rand and Transitions Optical (manufacturing), The Irish Times, INM and RTÉ (media) and Glanbia, Kerry Group and Total Produce (food products – which all scored well on a national level).

Other industries examined in the report include energy (Energia, Electric Ireland and SSE Airtricity), transport (Aer Lingus, Irish Rail and Norwegian), insurance (Laya Healthcare, AIG and AXA) and retail (Boots, Marks and Spencer and SuperValu).

International comparison

Despite displaying a high level of digital maturity in certain areas on a national level, the Digital Leaders report found that there is a gap between Irish businesses’ overall performance and the average standard for their European peer group.

Despite strong digital efforts, the report suggests that all Irish companies could benefit from further digitalisation to help them to differentiate themselves with respect to existing and potential competitors, secure leadership positions in the market, and compete with international counterparts.

Insight

Commenting on the report Eric Conway, Partner and Country Leader at BearingPoint Ireland, said:

“Although Irish businesses have some work to do to match the digital maturity of their European peers, it’s promising to see that they are competing strongly against this group in terms of social media and mobile. These two areas are particularly subject to technology evolution and change, so strong performance in these areas is key to remaining relevant and showing sustainable progress.

“The most important thing is that Irish businesses remain open to the adoption of new technologies and digitally-enabled processes. Irish businesses certainly have the potential to compete digitally at an international level, which we can see from the results in the retail bank and telecommunications industries. Companies that actively implement strategies to improve the level of digitalisation across their business are those that will successfully move up the ranks and achieve the highest performance.

“However, the size of the Irish market relative to others may be putting off larger companies from investing in marketing, professional expertise and infrastructure. Irish decision-makers need to put forward a strong case for investment in digitalisation that embraces new ideas and technology to maintain their competitiveness both locally and in international markets

For more information visit https://www.bearingpoint.com/en-ie/our-success/digital-leaders/

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