MINSAIT REPORT: DIGITIZATION IS ALREADY RESPONSIBLE FOR UP TO 30% OF THE GROWTH OF THE SPANISH ECONOMY

MINSAIT REPORT: DIGITIZATION IS ALREADY RESPONSIBLE FOR UP TO 30% OF THE GROWTH OF THE SPANISH ECONOMY

Source: Minsait (Indra)
25/09/2018

The report of Minsait (a company which makes part of the group Indra) on Digital Maturity indicates that digitization acts as an engine of growth of the Spanish economy and that from 2015 it has become responsible for up to 30% of the growth of this. It also points out that, if the pace of growth of the EU-15 had been maintained, the accumulated value of digitization in Spain between 1996 and 2017 would amount to 310,364 million Euro (30.7% of GDP), compared to 57,841 million actually achieved (5.7% of GDP).

It report also refers that the Spanish economy will be able to obtain the maximum benefits of digitalization as long as traditional capital is replaced by technology, human capital continues to be optimized and investment in R&D is maintained.

Minsait recommends companies keep betting on digital technologies; emphasize the deep transformation of the legacy and increase the level of ambition, to aspire to create future businesses on new technologies and bet on disruptive models. Specifically, it advises to:

• Adjust its execution capacity to the volatility of demand and the speed of technological advances.
• Explore strategic alliances to face the urgency of acquiring specific scarce capacities in the market.
• Exploit the full potential of the data.
• Open up to other players, collaborating and joining forces to add capabilities.
• Contemplating digital natives not as a threat but as a reference with which it is possible to explore collaboration agreements.
• And ensure that the structures built outward and in an agile manner to respond to the challenges posed by digitalization (for example, the digital channel) are integrated and coordinated with the internal structure of the organizations.