Digital Transformation Is About More Than Tech

Digital Transformation Is About More Than Tech

Digital Transformation Is About More Than TechDigital 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.

Top PriorityTop Priority

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%).

IT SpendIT Spend

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.

Big BenefitsBig Benefits

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.

Measuring StickMeasuring Stick

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.

External Drivers of Digital TransformationExternal Drivers of Digital Transformation

New business models: 41%,
New technologies: 40%,
Industry competition: 36%,
Customer expectations: 35%,
Disruptive competitors from other industries: 23%

Tech Focal Points for Digital TransformationTech Focal Points for Digital Transformation

Cloud: 64%,
Mobile: 44%,
Analytics: 42%,
Internet of things: 31%,
Social media: 30%

Consumer Concerns, Part IConsumer Concerns, Part I

40% of survey respondents admitted that their digital customer experience efforts are, at best, “generally inconsistent and not well-integrated.”

Consumer Concerns, Part IIConsumer Concerns, Part II

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.

Challenges in Achieving Digital TransformationChallenges in Achieving Digital Transformation

Legacy technologies: 29%,
Lack of talent in the enterprise: 23%,
Failure to collaborate on data and analytics: 23%

Mixed ReadingMixed Reading

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.

Dennis McCafferty
Dennis McCafferty is a contributor to CIO Insight. He covers topics such as IT leadership, IT strategy, collaboration, and IT for businesses.

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