Digital Transformation Is About More Than Tech
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.
Top 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 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 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 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 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 Transformation
Cloud: 64%,
Mobile: 44%,
Analytics: 42%,
Internet of things: 31%,
Social media: 30%
Consumer 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 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 Transformation
Legacy technologies: 29%,
Lack of talent in the enterprise: 23%,
Failure to collaborate on data and analytics: 23%
Mixed 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.