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That mindset transformation trumps technological transformation is neither new nor novel. Yet, companies continue to overlay sophisticated technologies on rigid, outdated, and sometimes completely broken systems and pay the price for it. The question is, can organizations still afford to bury their head in the sand (or in the overhang of a traditional psyche), especially in an ever-evolving pandemic world? Last year, we conducted a survey to understand how business leaders perceived velocity, and 47 percent of the respondents said that they viewed technology as the key driver for velocity. Even though the majority favored a more integrated approach, that nearly half of a C-suite club spanning six geographies still misgauged the potential of technology needs reflection.

People tend to think that technology is the key driver for velocity, and this could be true in certain cases, but overall, technology delivers insight that makes people more responsive and intelligent. On its own, however, technology cannot deliver results without a high-caliber team.

Velocity requires businesses to build a modern digital foundation, invest in deep transformations, and embrace the power of engineering – contained within a people-oriented, automation-first, and agile-at-scale approach. The foundation provides stability and resilience to navigate market shifts and acts as a backdrop for a culture that promotes collaboration and employee well-being. This is what drives enterprise velocity in the long run.

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