There’s No Finish Line for Digital Transformations
There’s No Finish Line for Digital Transformations
IT departments, take note: The aim of digital transformations, according to a new report, is to never stop transforming.
Setting Standards
65% of survey respondents said their organization is either a “pioneer” or a “leader” in overseeing a digital transformation, compared to competitors/peers.
Slow Start
Despite their high self-evaluations, 31% said their organization is only either developing or just starting to develop its digital transformation strategy, while 27% say they’ve developed the strategy but haven’t implemented it yet.
Digital Drivers, Part I
50% said evolving customer needs and expectations are driving their organization’s digital transformation, and 45% cite rapidly changing competitive dynamics.
Digital Drivers, Part II
43% said new technologies accelerating the pace of change are driving their company’s digital transformation, while 36% cite growth opportunities in existing and new markets.
Top Goals for Digital Transformation
To improve customer satisfaction, loyalty and retention: 53%, To increase operational efficiencies: 52%, To maintain or achieve market leadership within the industry: 48%, To complement or diversify core business: 37%, To disrupt core business before it is disrupted by others: 29%
Biggest Digital Transformation Challenges
Establishing the right organizational and governance model: 39%, Evolving the corporate culture: 39%, Funding the necessary investments: 35%, Finding/developing the required talent: 30%, Keeping up with the pace of tech changes: 30%
Progress Report: Point of Sale
Only 39% said they’ve made “strong” progress in being able to enable real-time transactions through a digital transformation, and only 32% said they’ve made similar progress in improving operations efficiencies.
Progress Report: Team Assistance
Only 38% said they’ve made strong progress in improving collaboration/co-innovation with partners through a digital transformation, and just 33% said they’re making the same progress in providing management with real-time decision-making information.
Executive Action
52% said their CIO or CTO is the primary leader of their company’s digital transformation, while 37% said it’s the CEO.
Two Paths
61% said their organization intends to integrate digital business talent and processes into its traditional business, while 33% said they will build a digital business that is separate from traditional business.
ROI Tracker
72% said their digital investment into mobile computing is at least achieving its expected business value, while 60% said the same about social media and big data/analytics investments.
