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Studie: M&A Treiber für die digitale Transformation

Eine klare Digitalisierungsstrategie ist entscheidend für die erfolgreiche digitale Transformation des Geschäftsmodells von Unternehmen. Um ihre digitalen Fähigkeiten zu erweitern, setzen die deutschen Unternehmen auf den Zukauf von Know-how.

Contents Foreword

Contents Foreword ....................................................................................................................................................... 3 Key findings .................................................................................................................................................. 4 1. Building a digitalisation strategy.............................................................................................................. 7 1.1 Strategic thinking .................................................................................................................... 7 1.2 Defining digital ........................................................................................................................ 7 1.3 The need for speed................................................................................................................... 7 1.4 Acquisitions at the heart of strategy........................................................................................ 8 1.5 Taking responsibility ................................................................................................................ 9 1.6 The imperatives for investment .............................................................................................. 10 1.7 Clear strategy; multiple solutions .......................................................................................... 11 1.8 The different attitudes of listed and unlisted firms ................................................................ 13 2. How digitalisation powers process .......................................................................................................... 14 2.1 Customers come first .............................................................................................................. 14 2.2 Don’t ignore the back and middle............................................................................................ 14 2.3 Technological engagement ..................................................................................................... 14 2.4 Tech’s guiding hand ................................................................................................................. 15 2.5 Motivating management ......................................................................................................... 17 3. Digitalisation in the German M&A market............................................................................................... 19 3.1 Digital deals versus overall deals ........................................................................................... 19 3.2 Digital deals by sector ............................................................................................................. 21 3.3 Cross-border versus domestic deals ...................................................................................... 21 3.4 Target regions: German companies scour world.................................................................... 22 4. Digitalised dealmaking.............................................................................................................................. 24 4.1 Digital deal drivers .................................................................................................................. 24 4.2 Target acquired ........................................................................................................................ 25 4.3 Digital steps to M&A success .................................................................................................. 26 4.4 The challenges of digital dealmaking ..................................................................................... 27 About Noerr .................................................................................................................................................. 30 About TUM .................................................................................................................................................... 32 Methodology. ................................................................................................................................................. 34 6

1. Building a digitalisation strategy Our research finds that organisations understand the importance of a concrete digitalisation strategy but, in many cases, they are not giving it their undivided attention 1.1 Strategic thinking German businesses have been slow adopters of digitalisation. For example, according to the OECD, only 16% of companies use cloud services 3 – this compares with an average of 25% overall and as much as 57% in more innovative countries such as Finland. However, the tide may well be changing. Our research suggests German companies now regard digitalisation as crucial to their future direction and growth prospects. When asked the extent to which they agree with the statement “we have a concrete digitalisation strategy”, the mean answer was 3.61 where 5 was strongly agree (figure 1). Meanwhile, more than two-thirds of the businesses in this survey (68%) say that digital transformation now plays a central role in their strategy (figure 2). The CEO of one such business explains: “The emergence of digital technology has created a fundamental disruption in the value chain – digital transformation is a necessity now if our business is to grow.” 1.2 Defining digital In practice, however, digitalisation means different things to different organisations. At a high level, the technology analyst Gartner defines digitalisation as “the use of digital technologies to change a business model and provide new revenue and value-producing opportunities”. In other words, it is the process of moving towards a more digital business. Still, the nature of that journey varies. Some businesses are focused on digitalising their customer-facing activities, exploiting new sales channels such as online and mobile. Others are more intent on using digitalisation to improve internal processes and operational effectiveness and efficiency, particularly when combined with technologies such as automation, artificial intelligence and the generation, accumulation and analysis of big data. Digitally mature businesses are embracing transformation on many fronts. Indeed, in some cases, digital transformation is now changing the very nature of organisations’ value proposition. Consider how some manufacturers, for example, are shifting from simply making one-off sales of their equipment to ongoing service and maintenance contracts that leverage sensor equipment and the internet of things in real time. Or take the entertainment industry, where music and film businesses have moved entirely digital, targeting customers with personalised services based on data-enabled knowledge about their preferences built from their purchasing histories and the rest of their digital footprint. 1.3 The need for speed However, organisations must decide what they want to achieve: in other words, to develop and articulate a clear strategy for digital transformation. The evidence of this research is that many businesses have not yet arrived at this point: there are a high proportion of companies that say either that they do not have a concrete digitalisation strategy (13%) or that they do no not know whether they have such a strategy (32%) (figure 2). For many businesses, the process of digital transformation is at a relatively early stage. It may be that many of the companies in this study have yet to settle on a holistic strategy for transformation, experimenting instead with a range of new ideas across different aspects of their businesses in order to understand what works best. In which case, their over-arching strategy will not yet be set in stone. Another possible explanation is that German companies have not yet felt the imperative to 3 https://www.oecd-ilibrary.org/docserver/sti_scoreboard-2017-29-en.pdf?expires=1549457308&id=id&accname=guest&checksum=0C9CD52997641AA5F290C46A- CE17EB3C 7

Deutsch

Arbeitsrecht
Studie: M&A Treiber für die digitale Transformation
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