Digital Transformation Is in Chaos

 
 
By Karen A. Frenkel  |  Posted 07-19-2017 Email
 
 
 
 
 
 
 
 
 
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    Digital Transformation Is in Chaos
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    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.
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    Theory Versus Practice
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    Theory Versus Practice

    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.
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    Barrier to Reaching Potential
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    Barrier to Reaching Potential

    35% of the respondents said the lack of a clear transformation strategy is a key obstacle to their company achieving its full digital potential.
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    Who's Leading the Transformation?
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    Who's Leading the Transformation?

    CTO: 29%, CEO: 28%, CIO: 24%, CDO: 14%
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    Execs Have Doubts
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    Execs Have Doubts

    20% of the executives surveyed admitted that they secretly believe that digital transformation projects are a waste of time.
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    Slow Start
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    Slow Start

    Only 10% of the respondents are successfully executing 75% or more of their digital transformation strategy.
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    Impatience Over ROI
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    Impatience Over ROI

    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%
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    Who Benefits From Digital Transformation?
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    Who Benefits From Digital Transformation?

    Operations, IT, Procurement, Finance: 60%, Product Development: 15%, Marketing: 13%, Sales: 10%
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    Resistance and Complexity
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    Resistance and Complexity

    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.
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    What Execs Call Transformation Efforts
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    What Execs Call Transformation Efforts

    Digital Strategy: 58%, Digitization: 52%, Business Transformation: 37%, Digital Disruption: 34%, Enterprise Transformation: 30%, Digital Transformation: 6%, None of the above: 3%
 

A new survey finds a "widespread stall" in digital transformation efforts, suggesting that its leadership is in crisis. Half of senior executives polled said their company is not successfully executing 50 percent of its strategies, according to the new report from Wipro Digital, "A Crisis in Digital Transformation." While most executives believe the company is clear on the definition of digital transformation, an obstacle to success is the lack of alignment on what exactly digital transformation means. "Digital transformation efforts are coming up short on intended ROI, in part because digital transformation is as much a leadership issue as it is a strategy, technology, culture and talent issue," said Rajan Kohli, senior vice president and global head, Wipro Digital. "Real digital transformation occurs when courageous leaders align goals and practices as well as theory, manage opportunity more than risk, and prioritize the future versus retrofit the present." The study surveyed 400 senior-level U.S. executives at companies with more than 100 employees about digital transformation strategies within their organization. Following are key findings.

 
 
 
 
 
Karen A. Frenkel writes about technology and innovation and lives in New York City.

 
 
 
 
 
 

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