Digital transformation is a race for survival. Those companies which are first past the post will be best placed to serve the new generation of ‘connected’ consumers, who will flock from competitors to those which can harness the latest tech and communication capabilities.
One concerning stat demonstrates just how important this race is to the future of every business – 40% of companies will be dead in the next five years, according to Cisco’s ex-CEO, and you can be sure that digital disruption and the slow progress of digital transformation will be primary causes of their decline.
The simple fact is that those who cannot deliver the digital services and experiences expected by today’s increasingly demanding, always-on consumers will lose out. The vast majority of companies recognise digital transformation as a competitive opportunity and, in response, more time and money is being spent on enabling digital initiatives. IT leaders expect 30% of their staff to be engaged in transformation efforts in 2017 according to a new study from Hackett, while 30% of IT processes will be affected by digital initiatives.
However, making digital transformation a reality is rarely plain sailing. New stats from a PointSource Executing Digital Transformation study highlight that many enterprises are facing the same challenges bringing their digital service transformation strategies to life, with an enormous 84% struggling with disparate legacy systems which impact the speed of their digital initiatives.
