Global Corporate Survey 2022: Operational Excellence Budgets, Priorities & Tech Preferences

Access this research

Access all Operational Excellence content with a strategic subscription or buy this single report

Buy Subscription

Need help or have a question about this report? Contact us for assistance

Executive Summary

This report provides senior managers in operations, engineering, maintenance, process safety, and data science and IT roles who are responsible for operational excellence with a benchmark of their peer group’s budgets, business priorities and technology preferences. The data collected through the Verdantix survey also support strategic decision-making and business planning by executives at technology vendors and service providers, by helping them understand trends in customer requirements. Verdantix selected 301 respondents from 20 distinct industries, spanning 22 countries across 13 regions, with 90% of interviewees representing firms with revenues greater than $1 billion. Budgets for operational excellence initiatives are looking healthy for 2023, with 83% of respondents reporting a planned increase in spending. Respondents provided insights into predicted spending changes and implementation plans for software and technology in 2023 and 2024.

Table of contents

Global Survey of 301 Corporate Operational Excellence Decision-Makers From Diverse Industries
Operational Excellence Programmes Are Coordinated Across Multiple Functions And Regions

Operational Excellence Budgets Will Continue to Grow, Despite Inflation And Energy Supply Shortages 
Spend On Operational Excellence Initiatives Continues To Grow In 2023 

Availability Of New Technology Drives Digital Transformation Of Plant Operations 
Cost Pressures, Net Zero Goals And Labour Shortages Propel Industrial Digitization Efforts 
Demand For An Integrated Suite Of Applications For Asset And Risk Management Activities Drives Investment In Software 
Innovative Technologies Are Changing The Way Heavy Industry Interacts With Assets 


Table of figures

Figure 1. Revenue Of Survey Respondents’ Firms
Figure 2. Survey Respondents’ Business Function
Figure 3. Industry Breakdown Of Survey Respondents
Figure 4. Geographic Location Of Survey Respondents
Figure 5. Change In Operational Excellence Spend For The Next 12 Months 
Figure 6. Operational Excellence Priorities For 2023
Figure 7. Factors Driving Digital Transformation Of Plant Operations
Figure 8. ESG And Sustainability Initiatives For 2023
Figure 9. Significance Of Connected Worker Solutions In Solving Frontline Workforce Challenges
Figure 10. Level Of Digital Maturity For Industrial Asset Management
Figure 11. Software Investment Plans For Asset Management In 2023
Figure 12. Industrial DataOps And Data Management Priorities For 2023
Figure 13. Operational Risk Management Investment Plans For 2023
Figure 14. Perceived Benefits Of Control Of Work Software
Figure 15. Evaluation Criteria For Industrial Asset Management Software
Figure 16. Investment Plans For Operational Excellence Digital Innovations
Figure 17. Value Propositions Offered By Industrial Digital Twins

About the authors

Joe Lamming

Senior Analyst
Joe is a Senior Analyst in the Verdantix Operational Excellence practice. His current research agenda covers industrial DataOps, AI/ML analytics and applications of generative AI for industry and enterprise. Prior to joining Verdantix, Joe worked in the consumer electronics industry, where he gained experience in overseas manufacturing, product design and data science. Joe holds an MEng in Mechanical Engineering and Sustainable Energy Systems from the University of Southampton.

Malavika Tohani

Research Director, Operational Excellence
Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins and software solutions for industrial risk and asset management. Malavika has over 15 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.

Related Reports

Not a Verdantix client yet?

Register with Verdantix for authoritative data, analysis and advice to allow your business to succeed.