Digital Transformation Is in Chaos
Digital transformation has stalled due to a misalignment between its definition and meaning, delayed ROI, complexity and resistance to new ways of working.
91% of the executives surveyed believe their company is aligned on the definition of digital transformation, but 25% said a key obstacle is the lack of agreement on what digital transformation means in practical terms.
35% of the respondents said the lack of a clear transformation strategy is a key obstacle to their company achieving its full digital potential.
20% of the executives surveyed admitted that they secretly believe that digital transformation projects are a waste of time.
Only 10% of the respondents are successfully executing 75% or more of their digital transformation strategy.
Here’s how long it took to get ROI on at least half their digital investment:
2 to 3 years: 50%,
1 to 2 years: 34%,
3 years or more: 12%,
less than one year: 4%
Operations, IT, Procurement, Finance: 60%,
Product Development: 15%,
39% of the senior executives surveyed said they encounter resistance to new ways of working and feel overwhelmed by the complexity of digital transformation efforts.
Digital Strategy: 58%,
Business Transformation: 37%,
Digital Disruption: 34%,
Enterprise Transformation: 30%,
Digital Transformation: 6%,
None of the above: 3%