Telstra Research unveiled: Business survival in a post-COVID world
Telstra, a leading Australian telecommunications and technology company, has today published a report in partnership with Vanson Bourne, that reveals the impact of COVID-19 on European businesses, and how some are using digital transformation to pivot business models to adapt to a post-COVID world.
The research, based on interviews with 500 senior IT and business decision makers in private sector organisations across Europe, explores how organisations are pursuing their digital transformation and innovation initiatives, the need for agility and the challenges of cybersecurity in the wake of COVID-19.
Security – an ever-evolving and challenging landscape
Cybersecurity is more important now than ever before. The COVID-19 pandemic presented cybercriminals with increased opportunities to breach the defences of organisations, making improvements increasingly important for European companies and their workforces. The research revealed that over half (65%) of respondents saw a dramatic rise in cyberattacks on their organisation during the pandemic.
In addition to hacking efforts, businesses reported increased pressure from phishing (44%), fake contact tracing apps and calls (43%) and ransomware (43%), with the greatest increase in incidents in the energy, oil, gas and utilities sector (80%).
Fifty-six percent cited improving cybersecurity as among the top priorities within their recovery strategy, ahead of increasing the pace of digital transformation projects (51%) and increasing investment in emerging technologies (50%), all of which can sharpen organisations’ competitive edge as they emerge from the pandemic.
Digital Transformation in a COVID world
Showing great resilience to the difficult circumstances wrought by the pandemic, the businesses surveyed reported strong progression of their digital transformation and innovation plans. Sixty-five percent of respondents say most or all of their organisation’s digital transformation and innovation projects are currently active, with only 28% claiming to have fully executed their digital transformation.
However, many decision makers still believe more could be done, with 83% agreeing their organisation needs to increase the pace of its digital transformation, which is unanimous across all the regions and verticals surveyed. European businesses have made vigorous investments in digital transformation despite the financial downturn, with respondents spending over $2.28 million (USD) on projects since the start of 2020. This is an average increase of 2.71% as a result of the pandemic.
Of those surveyed, the financial services industry reported 3.5 times more digital investment than any other sector with a spend of $6.55 million (USD). Artificial intelligence (AI) is cited as the key technology being prioritised (41%), a likely result of businesses attempting to better understand their customers. Other technologies being prioritised include 5G (35%), Internet of Things (34%) and edge computing (30%), all of which are geared towards enhancing network performance, connectivity and security. Interestingly, respondents from the UK and Ireland were the most likely to report that their organisation is prioritising investment in AI (53%), the Internet of Things (48%) and 5G (37%).
Meanwhile, most businesses recognised the need to include their supply chain in digital transformation projects, with 89% of respondents agreeing that involvement could lead to improved success levels for their organisation. Around a quarter (24%) reported their organisation has fully adapted to the changes arising from the pandemic, with a similar proportion (26%) saying the same for their supply chain. Encouragingly, 79% believe that the agility of their organisation, including its supply chain, has increased as a result of the pandemic.
Agility – a business necessity
The research showed that business agility became vital during the pandemic, with success hinging on how quickly organisations could react and adapt to a disparate workforce and customer base. Those who adapted quickly were the winners and many cited cloud as the key technology that enabled their success.
Surprisingly only 23% of respondents reported their organisation has a cloud-first strategy, with almost half (49%) expressing a need to migrate more applications to the cloud. Ultimately, the research showed that whether organisations implemented a cloud-only or hybrid model, they cannot afford to forego the agility benefits that cloud can deliver for both network and business performance.
Flexible working has become a business necessity, with 40% saying flexible working is the top enabler for business agility. While the majority indicated uptake of networking tools that enable flexible working, 71% indicated that they see room for improvement with their organisation’s network – some of the key areas that could improve were agility to scale bandwidth up and down to meet demand (36%), automation and use of software defined network technology (35%), and optimization of application performance (30%).
Matt Williams, Head of Telstra, EMEA said:
“From our research, it’s heartening to note that organisations are moving in the right direction with their digital transformation strategies, with the majority identifying themselves as more agile than they were before. However, agility is not the only factor in a business’ ability to survive through the pandemic. Digital supply chains and protecting yourself from cyberattacks are mission critical. When these three elements are fully addressed – with cybersecurity underpinning the agenda – organisations will be able to emerge into the post-pandemic world with confidence.”
The full report can be downloaded here.
Telstra is a leading telecommunications and technology company with a proudly Australian heritage and a longstanding, growing international business.
Today, we operate in over 20 countries outside of Australia, providing services to thousands of business, government, carrier and OTT customers. Telstra Enterprise is a division of Telstra that provides data and IP networks and network application services, such as managed networks, unified communications, cloud, industry solutions and integrated services. Telstra Purple, our new professional and managed services business in Australia, Asia and the UK, brings together people and innovative solutions to define and deliver a clear vision of our customers’ transformation journey, network foundation, and the protection they need to thrive.
Telstra’s global network includes more than 26 cable systems spanning over 400,000 kilometres, with access to multiple cable landing stations and more than 2,000 points of presence around the world. Our subsea cable network is the largest in Asia Pacific, with access to the most lit capacity not just in Asia, but also from the region to Australia, USA and Europe.
For more information, visit telstra.co.uk
About Vanson Bourne:
Vanson Bourne is an independent specialist in market research for the technology sector. Their reputation for robust and credible research-based analysis is founded upon rigorous research principles and their ability to seek the opinions of senior decision makers across technical and business functions, in all business sectors and all major markets. For more information, visit www.vansonbourne.com
Research scope and methodology:
Telstra commissioned independent market research specialist Vanson Bourne to undertake the research for this white paper. A total of 500 senior IT and business decision makers, including C-suite employees, were interviewed during September and October 2020, with representation around Europe (UK & Ireland, France, Germany, Nordics (Sweden & Denmark) and Netherlands).
Respondents had to be from organisations with at least 1,000 employees and came from a range of private sectors.
The interviews were conducted online and were undertaken using a rigorous multi-level screening process to ensure that only suitable candidates were given the opportunity to participate. Unless otherwise indicated, the results discussed are based on the total sample.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Verimatrix To Participate in SportsPro Live Virtual Panel: How To Transform Physical Spaces into Digital Ecosystems22.4.2021 17:45:00 CEST | Press release
Regulatory News: Verimatrix, (Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced that Lu Bolden, Chief Revenue Officer, is slated to participate in a SportsPro Live virtual panel discussion from 9:10 to 9:55 a.m. Central Time on Thursday, April 29. The event, which unites sports and technology professionals from across the globe, aims to prepare the industries for the future of sport. Bolden’s panel is slated to take place in the South Stand and discuss how technology can connect the in-venue experience to create more revenue opportunities. The group, moderated by Mike Bohndiek, CEO of PTI Digital Group, will also discuss what strategies and technologies can best deliver the new digital experiences. Other speakers on the panel include: Michael Cole, Chief Technology Officer, PGA European Tour and Ryder Cup Europe Adam Heintz, Senior Vice President, Business Intelligence, Monumental Sports & Entertainment “T
Rajeev Bhalla Named Director of Board at Next Level Aviation22.4.2021 17:39:00 CEST | Press release
Seasoned senior finance executive Rajeev Bhalla has been named a Director of the Board at Next Level Aviation, a leader in the aerospace used serviceable materials (USM) market. He brings wide-ranging financial, operational, and strategic expertise to the company as it plans substantial growth in the coming years, both organically and through acquisition. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005834/en/ Rajeev Bhalla has been named Director of the Board of Next Level Aviation. He will help guide the company’s planned growth in the coming years, both organically and through acquisition. (Photo: Business Wire) Bhalla’s background includes demonstrated discipline and expertise in finance, governance, and team development. This comes through current work as a Cerberus Operating Partner, board of director roles as well as experience in a number of successful companies. Notably, those include: Circor International,
Medical Aesthetic Products’ Manufacturer Croma-Pharma Launches “Croma is More” E-Learning Series for Health Care Professionals22.4.2021 17:00:00 CEST | Press release
Croma-Pharma GmbH (Croma) always strives to support physicians in their work in the best possible way. For this reason, the company has developed an interactive e-learning platform with continuing education offerings for physicians working in the field of minimally invasive aesthetic. In this way, Croma aims to help health care professionals achieve sustainable growth and success in their medical clinics/practices. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005727/en/ Social Media Training for Health Care Professionals Copyright: Croma-Pharma GmbH (Graphic: Business Wire) Medical professionals can choose from a broad variety of different formats: Social Media & Online Marketing Facial Anatomy Workshops Aesthetic Startup Academy Aesthetic Excellence A variety of topics is presented by Industry experts. All the content comes with lifetime access hence the health care professionals can learn on their own schedule and
PerkinElmer Supports PROXIDRUGS Consortium Aimed at Advancing Targeted Protein Degradation/PROTAC Drugs22.4.2021 16:44:00 CEST | Press release
PerkinElmer, Inc., a global leader committed to innovating for a healthier world, today announced that it is serving as a provider and co-developer of assays, instrument solutions and expertise for the PROXIDRUGS Consortium which is zeroing in on research for proximity drugs or PROTACs (PROteolysis Targeting Chimeras). PROTACs are a new class of drugs that take advantage of the body’s own cell protein recycling system to fight disease by tapping into the 80% of disease-relevant proteins that are currently untargeted by today’s available therapeutics. Led by Goethe University in Frankfurt, Germany, the Consortium includes researchers from the Technical University of Darmstadt, the Fraunhofer Institute for Translational Medicine and Pharmacology, and global pharmaceutical companies based in Frankfurt’s Rhine-Main region. The research project, starting October 2021, aims to streamline novel drug target validation by putting disease-relevant proteins in close proximity with key enzymes (su
Xsolla Acquires Slemma, an Advanced Data Analytics and Visualization Company22.4.2021 16:00:00 CEST | Press release
Xsolla, the video game commerce company powered by its Transaction Engine and Business Engine to help developers and publishers market, sell, connect and optimize their games globally, has announced the acquisition of Slemma, an advanced data analytics and visualization reporting platform. The web-based tools allow users to create simple, easy-to-use and dynamic data reports with customizable dashboards. Xsolla will integrate Slemma’s product suite into the Publisher Account to provide clients with next-level data visualizations, even connecting to third party tools and services including Amazon RDS, Microsoft Azure, Google Analytics, Facebook, Twitter, Zendesk, Salesforce and many more. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005443/en/ Xsolla acquires Slemma, a robust data analytics and visualization platform. (Graphic: Business Wire) “Everything we do at Xsolla focuses on providing the best experience, tools
Serie A Club Parma Calcio Signs Deal with Stats Perform for Access to the Most Sophisticated Player Identification Tool—Edge Recruitment22.4.2021 15:49:00 CEST | Press release
Today, Stats Perform, the sports tech leader in data and AI, announced a deal with Italian football club Parma Calcio, recently purchased by Iowa-based Krause Group, which will see the Serie A side become the first club worldwide to access the innovative Edge Recruitment platform, the industry’s most sophisticated player identification tool. Since the emergence of technical scouting during the mid-2000s, recruitment analysts have been using data to assess prospects through the lens of traditional on-field position labels. Launched earlier this season, Edge Recruitment introduces a new method of assessing players, applying multiple AI-powered models to profile players based on their role in a team. At the heart of Edge Recruitment is Role Discovery, a model which detects 18 different types of role all over the pitch based on a player’s spatial tendencies, contributions to different phases of play, possession involvement, distribution and shooting tendencies. Through applying Role Discov
Milliken & Company Publishes Third Annual Corporate Sustainability Report22.4.2021 15:00:00 CEST | Press release
Global manufacturer Milliken & Company today released its third annual corporate sustainability report, entitled Together for Tomorrow. This report, which analyzes Milliken’s performance through the lens of its holistic sustainability efforts, highlights its progress towards the 2025 sustainability goals the company set in 2018. Covering people, product and planet, this report creates increased accountability while inviting new conversations and collaborations as the company works to create a positive impact on the world that will last generations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210422005332/en/ Together for Tomorrow: Milliken's Third Annual Corporate Sustainability Report (Photo: Business Wire) “Together, we met the critical moments from 2020,” shares Halsey Cook, president and CEO for Milliken. “We pivoted production lines, launched new innovations, and rallied our team to improve our sustainability metrics