target audience: TECH SUPPLIER Publication date: Dec 2022 - Document type: Market Perspective - Doc Document number: # US49917422
Is a New Era Upon Us for Space Management?
This IDC Market Perspective assesses how organizations are currently engaging and strategizing around digital transformation (DX) for space management. The assessment looks at the direct and indirect value-added pathways of space management to improve on revenue, retention, and productivity while comparing and contrasting current versus leading strategies to maximize all three.
Across the field of DX use cases, most organizations still integrate physical and digital resources through functional and short-term strategies that place a premium on automation rather than on insights, action, and evolution. In IDC's Future of Enterprise Resilience Survey, Wave 2 (n = 1,191), IDC has found that as organizations become more proactive to optimize DX for how digital resources enable the physical and digital work environments to support employees at work, they are:
- 4.2x more likely to realize improvements in customer satisfaction and the quality of customer experiences (CXs)
- 87% more likely to boost employee retention and the quality of employee experiences (EXs)
- 57% more likely to boost productivity
"While IDC's data shows that workplace reconfiguration moves the needle on direct revenue improvement by only 4%, improvements in productivity indirectly increase the likelihood of revenue improvements by 48%, while improvements in retention and EX quality boost the likelihood of revenue gains by 40%. By comparison, reactive and short-term DX efforts that focus on automation without insights-driven action generate only modest improvements in the likelihood of realized revenue gains of just 12%," says Bob Stallard, research manager, EAM and Smart Facilities at IDC.