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From boosting workforce productivity to improving customer experience, accelerating digital transformation is critical for businesses here in the Caribbean region. But PwC’s first Caribbean region digital readiness survey reveals a wide gap between organisations out in front and those struggling to make headway.
What marks out the digital transcenders - not just transformers? How can you win in digital and become one of these pace-setters? Our survey benchmarks where organisations in the Caribbean are on their digital journey across six key themes.
Key findings
Caribbean businesses set bold digital ambitions
More than 80% of businesses in our survey are focusing their digital strategy on modernising their brand with new capabilities, ahead of doing what they’ve always done faster and more efficiently (62%).
Further upskilling is critical
Digital transformation is as much about people as systems – you can’t create a digital organisation if your workforce is still stuck in analogue. But 46% believe their organisation is behind in training workers with skills for the digital era.
Digitisation is accelerating, but ground still to be made up
Most respondents believe that they’re meeting or exceeding targets on integrating new technologies into business processes, and products and services – 42% on target and 28% ahead. But that leaves more than a quarter who acknowledge that they are behind target. Moreover, only 15% believe that their digital fitness is on a par with or ahead of the leaders in their industry.
Pulled in too many directions
There are now an infinite variety of digital tools and technologies on offer. The challenges of making and implementing the right choice are exacerbated by the need to get on with business as usual. Respondents see competing priorities as the biggest barrier to creating effective customer and employee experience.
Productivity boosted
Almost three-quarters of respondents believe that use of digital technologies and behaviours has boosted workforce productivity. Over half believe it has increased employee satisfaction.
Switch to remote working becomes permanent
The shift to remote working caused by COVID-19 is here to stay. Over half of respondents expect at least a third of their employees to be working remotely more than one day a week a year from now. Alongside the right technology, this shift demands new ways of engaging with and managing your workforce.
About the survey
In October/November 2020, we surveyed over 600 senior executives from organisations in seven countries in the Caribbean. The questions sought to gauge organisations’ digital readiness, enablers and barriers to change, and priorities for the future.
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