Tech companies have dominated the top market valuations in recent years, with Apple, Amazon, and Microsoft being the first to reach $1 trillion valuations. Tech now accounts for 7 of the top 10 market caps globally. Traditional companies are recognizing the need to adopt more digital strategies to remain competitive. Many companies are creating initiatives like digital factories and labs to drive innovation, but often with limited impact. True innovation at scale requires treating software as a strategic asset and competitive advantage by building digital capabilities into all business units and customer touchpoints. This will allow companies to better serve evolving customer needs in the digital era.