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Survey: Many Enterprises Lack Digital Transformation Strategy

By Edward Gately
May 24, 2017 - News

A new survey of 1,400 enterprise decision-makers shows only half of enterprises have a formal digital transformation strategy.

That’s according to a new CenturyLink/451 Research survey that provides insight into how, why and at what pace organizations are preparing for the digital future.

CenturyLink's Frank TutaloFrank Tutalo, CenturyLink’s director of corporate communications, tells Channel Partners that enterprises may not fully “appreciate the urgency" of getting underway with their transformation.

“Those companies that take a passive approach are the most likely to find themselves playing catch-up with the competition," he said. “Furthermore, many enterprises are uncertain about the time required to complete a highly complex digital transformation: 41 percent of companies in the early stages of the process expect to complete their transformation in only one to two years, while an equal number say it will take them three to five years." 

The survey — which polled executives in North America, Europe and Asia Pacific — found that disruption will continue to ramp up over the next three years, with 42 percent of study respondents expecting major disruption as the deployment of new digital technologies continues to play out in their respective fields. This will continue to change the competitive dynamics of their markets in the process.

451 Research's Sheryl Kingstone“Digital transformation programs are now being viewed as strategic, long-term initiatives and typically receive the support of top-level executives," said Sheryl Kingstone, 451 Research’s director of customer experience and commerce. “In fact, 60 percent of enterprises are increasing their IT spending levels to achieve the significant benefits of digital transformation."  

According to the survey, executives at organizations globally commonly identify with four key pillars of competitive differentiation to target with internal digital transformation initiatives: improve the level of business agility; better manage business risk; improve operational efficiency; and improve the internal or external customer experience.

When asked to rate their organization’s ability to innovate, 59 percent of those with a formal digital transformation strategy already in place rated their organization as more capable and faster to innovate, with 18 percent feeling their organization was slow to innovate.

The survey found three primary barriers to achieving success: inflexible IT …

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