BCX Digital Innovation
South Africa 2023
Discover innovation best practices from the Digital Innovation Index report
Digital transformation is revolutionising business models and making innovation an inherent necessity for long-term value creation. Against this backdrop, the BCX Digital Innovation Index report, in partnership with EY Parthenon, aims to provide guidance for businesses of all sizes in South Africa.
Introducing the Digital Innovation Index Report
The report focuses on the ‘building blocks’ of innovation excellence and evaluates how organisations can champion innovation within both national and sectoral contexts in South Africa. It explores the complex interplay between various internal and external drivers that uniquely affect each economic sector.
Drawing upon data gleaned from questionnaires and interviews with senior leaders from 42 notable institutions, the report delineates the multifaceted challenges and prospects tied to the pursuit of digital innovation. The study classifies South African organisations into four discernible categories: ‘Excellent’, ‘Maturing’, ‘Emergent’, and ‘Nascent’, each presenting different approaches and stages of development in pursuing innovation.
The BCX Digital Innovation Index serves not merely as an academic exercise but as a guiding framework. It calls upon organisations to introspect, recalibrate their strategies and approaches, and embrace the dynamic landscape with both resolve and agility.
The report offers insights into:
The inhibiting factors to innovation are considerable, yet not insurmountable. Through a blend of strategic planning, external partnerships, and a resilience borne out of necessity, the future of innovation in South Africa can be not just promising but transformative.