Digital Transformation Is About More Than Tech
To ensure success, companies need to overcome the mindset that says digital transformation is strictly “a tech thing,” rather than an enterprisewide commitment.
50% of the C-level execs surveyed said completing a digital transformation is a top priority for their company over the next two years, followed by corporate expansion (38%), new products and services (35%), and business diversification (24%).
51% said the acquisition of new technologies to enable digitalization is a top investment priority over the next two years, and the same percent of execs cited the need for greater data analytics capabilities.
45% of the respondents consider their organization as “advanced” or a “leader” in pursuing digital transformation-driven improvements in efficiency, customer experience and business models.
46% said the ability to innovate and grow revenue are the most significant measures of success for digital transformation initiatives, while 43% cited cost reductions.
New business models: 41%,
New technologies: 40%,
Industry competition: 36%,
Customer expectations: 35%,
Disruptive competitors from other industries: 23%
Internet of things: 31%,
Social media: 30%
40% of survey respondents admitted that their digital customer experience efforts are, at best, “generally inconsistent and not well-integrated.”
More than a quarter said that, while their business uses digital tools to provide consistent customer experiences and services, they are not truly innovative on this front.
Legacy technologies: 29%,
Lack of talent in the enterprise: 23%,
Failure to collaborate on data and analytics: 23%
61% of the IT execs surveyed said the tech organization is most involved in the implementation of their company’s digital transformation strategy, but just 45% of business execs agree.