The digital age has created a new level of complexity for every established business around the globe: accelerated change, new business models, consumerization of the workplace, and the explosion of available data are creating unprecedented business opportunities — but also huge competitive and operating challenges.
Midsize firms are typically more resource-limited than large firms, but are often more agile with less commitment to entrenched approaches, which can give them a potential advantage. Digital technology offers midsize companies the opportunity to not only compete better, by bypassing entrenched (possibly larger) incumbents slowed down by legacy processes, assets, and business models. But at the same time, they are potentially more vulnerable to smaller, even more agile firms that can leverage technology more effectively to tap the emerging digital economy.
IDC explains how important is the need for midsize businesses to remain responsive and agile in today’s fast-paced digital economy.