What CEOs Expect From Digital Transformations

 
 
By Dennis McCafferty  |  Posted 09-20-2017 Email
 
 
 
 
 
 
 
 
 
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    What CEOs Expect From Digital Transformations
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    What CEOs Expect From Digital Transformations

    CEOs look favorably on their employees' digital experiences, but to take transformation to the next level, CIOs and their teams need to overcome some obstacles.
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    Dominating Topic
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    Dominating Topic

    39% of the CEOs surveyed reported that digital transformation is "at the top of our boardroom agenda."
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    Primary Players
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    Primary Players

    47% said their CIO drives their organization's digital transformation, while 26% said their chief digital officer does.
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    Main Concerns When Pursuing Digital Transformation
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    Main Concerns When Pursuing Digital Transformation

    Security: 64%, Cost-effectiveness: 59%, Reliability: 55%, Integration: 53%, Global Presence: 49%
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    Barriers to Implementing Transformation Infrastructure
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    Barriers to Implementing Transformation Infrastructure

    Inflexible technology: 43%, Lack of digital skills: 40%, Security concerns: 39%, IT's failure to understand business needs: 37%, Ineffective collaboration throughout firm: 35%
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    Strong Reviews
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    Strong Reviews

    79% of the CEOs surveyed describe the level of digital experience that their organization provides to employees as no less than good, with 37% describing it as excellent.
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    Influential Quality, Part I
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    Influential Quality, Part I

    59% said their employees' digital experiences have a high impact on staff retention, while 52% said they have a similar effect on the company's overall innovation.
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    Influential Quality, Part II
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    Influential Quality, Part II

    52% said their employees' digital experiences have a high impact on company cost reductions, and 50% said they have a similar effect on both collaboration capabilities and productivity.
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    Defensive Posture
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    Defensive Posture

    68% of the CEOs surveyed are mostly or entirely confident that they can pursue digital transformation without compromising security.
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    Protection Plan
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    Protection Plan

    37% said their security governance processes greatly mitigate risks during their digital transformation, while 36% indicated that security technologies and tools perform that function.
 

A significant share of CEOs at multinational companies rank ongoing digital transformation efforts "at the top of our boardroom agenda," according to a recent survey from BT. The resulting report, "Leading from the Front: CEO Perspectives on Business Transformation in the Digital Age," indicates that CIOs and chief digital officers are leading these initiatives, placing high priorities on the security, cost-effectiveness, reliability, integration and global presence of digital transformations. CEOs look favorably on their employees' digital experiences, and that helps when it comes to retention, innovation, cost reductions, collaboration and productivity. However, to take the transformation to the next level, CIOs and their tech teams will need to overcome a number of obstacles, including inflexible technologies and a lack of essential digital skills. "CEOs have highlighted the importance of digital transformation to their multinational organizations today," according to the report. "While their confidence is high, there are also areas of weakness, primarily around security, technology skills and insight. The opportunity to evolve through digital continues to grow, and many organizations are looking equally at various models by which they can gain competitive advantage. Getting digital transformation right means having core elements built in up front, balancing the right security measures with cost and opportunity, implementing an infrastructure that is flexible and ready to deal with the requirements of the next strategic move." More than 400 CEOs of multinational corporations took part in the research, which was conducted by the Economist Intelligence Unit (EIU).

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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