Confidence in digital transformation is high, but challenges remain

Most companies believe they will meet their objectives for the year, in terms of digital transformation, but almost two thirds think ‘significant organisational changes’ need to be made before that can happen.

Those are the results of a global survey, of 282 executives from various industries, including healthcare, biotech, financial services, telecoms and pharma. The survey was released by Pegasystems and the Economist Intelligence Unit (EIU).

These significant changes are related to the lack of executive sponsorship, which is the main obstacle for implementation. For almost half (40 per cent), senior leaders need to increase their oversight, it was said. Change needs to be driven from the very top.

Besides these much needed changes, executives are mostly confident in their ability. More than two thirds (69 per cent) believe they’ll achieve their set goals. But to be fair, it’s not like they have a choice. In 77 per cent of cases, digital transformation is their company’s top priority, and if it is not properly done, they can expect ‘poor financial performance’.

They consider it a top priority, as almost half (48 per cent) believe it can give them a competitive advantage. For a quarter, the drive is in ‘competitive pressure’.

The respondents mostly expect to improve customer experience through digital transformation. More than half (57 per cent) identified it as their top customer-facing goal. Internally, goals include process optimisation and employee experience.

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