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NEW YORK, Feb. 3, 2021 /PRNewswire/ The year 2020 not only tested a decade s worth of tech-fueled investment and deal-making but also stressed business models, value chains and portfolio holdings.
With most businesses adopting a digital-first mindset, many executives thought they were in fifth gear and innovating to meet customer demand now they realize there s a sixth gear driving transformation. These findings are reflected in the 23rd Ernst & Young LLP (EY US) US Global Capital Confidence Barometer (CCB), which indicates US business leaders need for resiliency and growth in 2021.
COVID-19 accelerated digitization. Where there was some fatigue prior to the emergence of the pandemic, 76% of US business leaders now plan to increase digital investments as a part of their 2021 strategy. In addition, 73% are increasing spend on customer engagement and 74% plan to invest in workforce management.
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