Acorio’s Insight & Vision Report: Future Normal & The Business Impact of COVID-19

Welcome to our special edition Insight & Vision Report.

It’s perhaps an understatement to say the past six months would have been difficult to predict based on our last survey in November of 2019. To delve into much-needed data on business planning for today’s environment, last month, we launched a COVID-19-specific Insight and Vision Survey. We aim to bolster our yearly analysis of the state of the ServiceNow ecosystem and Digital Transformation.

This special edition report examines responses from over 200 global enterprise participants to understand how this unanticipated health crisis has, is, and will impact their business strategies, budgets and priorities – particularly as it pertains to Digital Transformation and ServiceNow.

Inside the book you will find industry spotlights, what challenges your peers are facing in their own roles, how entire organizations handled their technology budgets and more. To see the data right away, feel free to download the full report here.

Digital Transformation Is Our North Star

As a result, and amidst the pandemic, we have seen work shift to home, important calls for equality, a U.S. impending presidential race and a tense economic forecast.  I have found my own moments of inspiration and vision amid the tumult.

2020 has also shown the best of us: Our empathy for others, our agility to work and educate remotely and ability to solve together. While not perfect, the moments of light are there.

Digital Transformation, we believe will accelerate due to 2020 events. I agree with ServiceNow CEO, Bill McDermott, who recently said that clients are looking to solve once-in-a-generation challenges. A Digital Business Strategy is now mandatory for survival and beyond in the post-COVID world.

I believe Digital Transformation is the opportunity of our time. ServiceNow is the enterprise fabric that fulfills the promise of unifying work to execute efficiently, with ease and delight. It will define and help accelerate what the next normal will look like for all of us.

Understanding digital transformation in the ServiceNow context was the basis for inspiration for an annual Insight and Vision survey. We wanted to know the actual challenges, risks, and successes our clients and their peers were seeing along their roadmaps.

Today, immediately, we now need insight into the specific impacts COVID-19 has had on Digital Transformation plans and execution (and there are many). As you read our special edition Insight and Vision report, pay close attention to a few themes we see in data from your peers:

  • Unsurprisingly, COVID-19 is having a giant impact across all industries today. Most impactful is that our survey data shows organizations expect to see a long-term business impact of the pandemic and ensuing response – rating the overall business fallout at a magnitude of 6/10 as far out as the next 12 to 24 months.
  • Digital transformation journeys are shifting. For most, the last six months have caused a change or disruption to the process and technology roadmap they had plotted at the beginning of the year. Change is especially being driven by the need to support a newly-remote workforce and shifts in their customer demand and interactions.
  • Not all organizations have approached the pandemic with cost-cutting. For some, digital priorities accelerated and hiring increased to fill the need for more hands to deal with digitization challenges.

On a personal note, I am so grateful to our current clients for inspiring us as they stayed calm and dug down to protect their customers and employees. For any Miracle fans out there – Great moments are born from great opportunity. And that’s what you have here.

Innovation happens in these times and I have been amazed at what our customers are doing to ensure safe work and serve customers who need them more than ever. Let’s look forward to the future and a healthy business environment, underpinned by a peaceful, and socially just community.

Now, without further ado… jump into the full COVID-19 Impact Insight and Vision Report here.