What is the current state of digital transformation?
Many companies surveyed in 2017 are still struggling with technological and human challenges
of Digital Transformation (DT). The key findings are:
- Meager digital literacy within businesses is restraining the scope and extent of innovation to respond to consumers’ new expectations.
- Often when companies do invest in digital-transformation initiatives, they are viewed as short-term cost centers with very limited budgets and other resources, not the long-term investments they must be for long-term success.
- Many company cultures are risk-averse, and their leaders do not feel a sense of urgency to compete differently, despite global consumers’ embracing smart telephones and the internet for more than a decade.
- Politics, egos and fear are the main obstacles to achieving the collaboration and solidarity needed within companies to make the changes digital consumers want.
This continuing lag lands a disconcerting number of businesses in early stages of “The Six Stages of Digital Transformation” maturity framework.
However, companies that are excelling are prioritizing the digital customer experience (CX) and employee experience (EX) to learn, identify gaps and opportunities, and define innovation roadmaps. They are spending more money than ever in innovation programs to leverage today’s digital reality