Adopting agility in the Middle East
The Impact of Agile Adoption on Business Growth and Efficiency
Agile practices have become an integral part of modern business strategies. With many companies having adopted agility to increase efficiency and competitiveness, the global enterprise agile transformation services market was valued at $15,443.51 million in 2018 and is projected to reach $63.8 billion by 2026, growing at a CAGR of 19.50% from 2019 to 2026. (Source: Allied Market Research). But how much do we actually know about the effects of agile adoption on businesses?
First off, there are some pretty compelling stats that show just how beneficial agility can be for businesses. According to the Annual State of Agile Culture Report 2022, a strong agile culture in an organization will result in an increased commercial performance of 237%. Similarly, according to a McKinsey, successful agile
transformations deliver around 30% percent gains in efficiency, customer satisfaction, employee engagement, and operational performance.
The worldwide spread of agile adoption is on a rapid upward trend – but at varying speeds depending on the region. Currently, North America leads in terms of adopters of agile practices. The slower rate of adoption in Europe can partially be attributed to legacy systems and established processes being used across organizations. In comparison to North America & Europe, agile practices have been much slower to gain traction in the Middle East before the pandemic due to issues such as cultural barriers & bureaucracy slowing down their uptake.
However, post-pandemic, countries like Saudi Arabia, the United Arab Emirates, and Qatar have focused heavily on embracing agile transformation. In this region, banking is leading the way when it comes to agile transformation. Through practices such as Lean Banking and Continuous Delivery, they are increasing operational efficiency while maintaining compliance with regulatory standards. Fintech companies are also adopting these techniques as they seek to differentiate themselves from their traditional counterparts in an increasingly digital world.
The Promising Future of Agile Transformation in the Middle East
The future of agile transformation in the Middle East looks very promising, due to the rapid digitalization trend in the region, primarily the Gulf countries where IT expenditure is expected to hit $169 billion, according to Gartner.
As more organizations become comfortable with rapid iteration cycles, they will be better equipped to handle complex projects with confidence and efficiency. In addition to banking, governments across the region are actively exploring ways to make use of emerging technologies, which could revolutionize public services and drastically reduce the paperwork burden for citizens.
Ultimately, businesses in Europe should look at what is happening in North America and the Middle East as a benchmark for how agility can change an industry for the better – especially when it comes to fintech, banking, and digital government services. The widespread adoption of agile values, principles, and practices and their supporting technologies across the Middle East region offers valuable insight into where our global economy may be headed in the future – both domestically and internationally
In conclusion, adopting agility not only benefits businesses in terms of increased quality and productivity – but it also sets them up for success when it comes to staying competitive in an ever evolving digital landscape. While all regions have been steadily embracing agility over the last few years, North America still remains ahead when it comes to adopting agility due largely to early investment in people and technologies – whereas legacy systems used across European organizations and many Middle Eastern ones may have hindered their ability to switch quickly towards adopting such practices.
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