Execs and Their Role in Digital Transformations

At this point, everybody's talking about the need for a digital transformation. And, fortunately, words are translating to action, according to a recent survey from Pegasystems and The Economist Intelligence Unit. The resulting report, titled "The Digital Transformation Agenda 2016," reveals that most company leaders consider the digital transformation as a strategic priority, and the majority of companies are meeting their digital transformation objectives. However, many of these objectives are focused on revenue and customer-facing goals, as opposed to the improvement of internal processes and employee engagement levels. And while organizations appear to be doing well here, most need to make "significant" changes to continue doing so—especially when it comes to increasing sponsorship and oversight on the part of senior leadership. "While leaders acknowledge the significance of digital transformation, they are not taking as active a role in its implementation as their peers would like," according to the report. "This may be because they lack confidence. Executives in senior positions today may not have had direct experience of digital technology, or the working processes and practices that are associated with it, during their careers. But whether it is through boosting their experience and knowledge or hiring experienced colleagues, executive boards need to find that confidence—and sooner rather than later." More than 280 global business leaders took part in the research.