Digital transformation projects not as slow as you think they are

The popular opinion that corporate digital transformation efforts are chronically behind schedule is actually not true, according to a new report by Sopra Steria.

The transformation company has released a new report, entitled Digital Transformation: Lessons learned from early initiatives, which it created in tandem with market research provider Kable.

It is based on a poll of 120 FTSE500 organisations, and it says that 83 per cent of them are actually pleased with the pace of their digital transformation projects.

The companies questioned are from a wide variety of industries, from banking, insurance, asset management, to retail, telecommunications, transport and logistics, utilities and media.

“The survey reveals significant differences in enterprises’ maturity when it comes to the use of digital to drive business transformation,” commented Richard Potter, Innovation and Digital Transformation Leader, Sopra Steria. “There is still work to do in terms of educating organisations on the benefits of Digital to achieve business transformation, however it is encouraging that there is a real appetite for further investment and more ambitious Transformation programmes.”

Digital transformation is happening all over the business world, for a couple of key reasons. Firstly, it allows organisations to reduce costs and increase customer engagement. This leads to an improvement in customer experience, but many organisations still don't know how to use digital techniques to their full potential. Others lack in-house skills needed to deploy such projects.

“Interestingly, enterprises are very evenly spread across the defined stages of digital maturity. Another notable finding, is that contrary to commonly held opinion, organisations’ own internal IT departments are identified as playing a significant role in the delivery of digital programmes – 82% cited IT as core to their business transformation success,” said Will Rhodes, Consulting Director, Kable.

“Enterprises that brought in a third party with experience of delivering digital transformation programmes reported stronger governance and greater success. This is partly due to a lack of available digital skills in the market but also reflects the importance of quickly accessing key skills and well developed governance frameworks, which all contribute to demonstrable a return on investment.”

Image source: Shutterstock/Sergey Dudyrev