Which Drivers Have the Strongest Impact and What Measures Are Companies Taking in Response

Companies still under pressure – many lag far behind their plans

●Survey and empirical study with 462 experts on the topic of business transformation
●Polycrisis has an impact: companies focus on cost-cutting and pause their innovation and transformation projects
●Project success rate: plan and actual are drastically divergent

Hamburg, June 6, 2023, the study #SHIFTHAPPENS initiated by the Hamburg-based software company Nordantech paints a rather bleak picture for Germany in the year 2023. The study examines the impact of the current situation on business transformation processes. The opinions of more than 450 well-known German experts were compiled for this purpose.

Get the week’s top news delivered directly to your inbox – Sign up for our newsletter

Polycrisis as the challenge No. 1
Companies are operating in times of a real polycrisis. The evaluations thereby paint a clear picture:
●The geopolitical situation and climate change are omnipresent. But one can also still notice the effects of the pandemic.
● Companies are tested in their resilience: High price increases, weak consumer behavior, increasing financing costs and existing bottlenecks regarding primary products and raw materials are the driving factors.
● Companies continue to react in an almost industry-agnostic manner with cost-cutting and efficiency measures – transformation measures on hold.
● The effects are striking: almost 50% of the respondents speak of project realization rates below the 50% mark.

Dr. Jonas Steger, CEO of Nordantech, comments on the results: “The overall economic environment is marked by uncertainty. As a result, companies often opt for cost-cutting measures and pause necessary transformation and innovation projects. In the next months, we’re going to see how sustainable this effect will be from an economic perspective.”

However, not only exogenous factors explain the low realization ratios. The majority of experts report difficulties on an internal level. The main reasons include the companies’ lack of change and transformation management. According to the experts, the Project Management Office (PMO) and consulting firms often play a significant role in this context. According to the experts, the latter regularly suggest the initiation of a PMO – which – in many cases – doesn’t exist. The study dedicates a special section to this topic.

About Nordantech
Nordantech is a German tech company founded in 2016 by Dr. Jonas Steeger, Christian Kuhs and Arne Brenneisen, which sells the strategic project management software Falcon. Falcon enables companies and their employees to significantly reduce administrative efforts in their strategy and transformation projects. The software facilitates the flow of information, creates transparency in projects and makes time-consuming work with Excel spreadsheets obsolete. Based on their many years of experience as consultants and in project management, the founding trio has recognized that it’s not enough to have good concepts to guarantee success in transformation projects. One also needs intelligent tools, that are easy to use, for the implementation and execution of the initial ideas. The company is based in Hamburg and employs around 20 people.

 Source: Nordantech

Can’t stop reading? Read more