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Priorities for Adopting an Exponential IT Mindset in the Wholesale Industry

Adopting Exponential IT is critical for business growth and sustainability.

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  • Top performing companies are action-oriented and unafraid of change. With an expected 6.8% increase in IT spending for 2024 over 2023, it is imperative that companies are moving off outdated systems to not being left behind.
  • The industry is facing pressure on profit margins with increased competition, enduring inflation, and continued high interest rates into 2024, and higher pricing through the pandemic has increased competitive pressure as higher supply costs come off.
  • Customers are looking for products and services that serve their needs, which puts more pressure on wholesalers to listen, better understand their customers, and adjust their offerings.

Our Advice

Critical Insight

Wholesalers are facing challenges in maintaining their competitiveness due to heightened competition, the use of legacy equipment, and traditionally large amounts of technical debt. The enablement of innovation is crucial for improving the business’ competitive positioning, where IT leaders need to be recognized as valued business partners to empower the organization to embrace exponential technologies.

Impact and Result

  • Recognize the urgency of adopting Exponential IT within the wholesale industry to combat and/or exploit industry disruptions.
  • Comprehend the three priorities of Exponential IT transformation in the wholesale industry that are being adopted today to remain competitive within the market.
  • Acknowledge the foundational capabilities and maturity required to begin an effective Exponential IT transformation, resulting in value creation.

Priorities for Adopting an Exponential IT Mindset in the Wholesale Industry Research & Tools

1. Priorities for Adopting an Exponential IT Mindset in the Wholesale Industry – Adopting Exponential IT is critical for business growth and sustainability

Adopting an Exponential IT mindset is about being prepared for this growth through evaluating existing operations and organizational structures and taking steps to modernize them. Info-Tech has identified foundational capabilities and essential steps to take in the process of adopting an Exponential IT mindset to help organizations prepare.

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Adopting Exponential IT is critical for business growth and sustainability.

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Author

Donnafay MacDonald

Contributors

  • Chris Goodhue, Managing Partner, Info-Tech Research Group
  • Craig Broussard, Executive Counselor, Info-Tech Research Group
  • John Leidl, Executive Counselor, Info-Tech Research Group
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