The latest McKinsey Global Survey on digital strategy asked business leaders about changes in investment during the pandemic. Results from the survey showed that companies tried to cut costs everywhere—except digital and technology, where most companies increased their spending.

Today, companies are rethinking the role of digital technology in their overall business strategy and how to conduct business at the quickening pace that’s now needed to operate.

The imperative for a strategic approach to technology is universal, yet some companies are already leading the pack; their responses show that better overall technology capabilities, talent, leadership, and resources (what McKinsey calls a company’s “technology endowment”) are linked to better economic outcomes. At the same time, the results confirm that many organizations could be missing opportunities to invest in the areas of their business models that are most at risk of digital disruption.

To read the survey from McKinsey, The New Digital Edge, Rethinking Strategy for the Post-Pandemic Era, click here.