Businesses pursuing digital transformation will likely face severe turmoil, according to new research from the software company Bizagi which specialises in digital process automation.
The company conducted a global study of over 1,000 IT and customer experience professionals that revealed 87 per cent of business currently undergoing digital transformation will have drastic setbacks along the way. Of those surveyed, 73 per cent believe that failing to transform will result in commercial downfall for their organisation.
Although digital transformation has gained a tremendous amount of popularity in recent years, only one in three business (32 per cent) have a high level of live transformation projects under way. Business in the US and Canada have committed to change with 52 per cent already undertaking new digital projects.
Three quarters of respondents (75 per cent) believe that the rapid pace of change has increased as a result of disruptive businesses challenging the status quo. However 82 per cent of those surveyed understand that in order to keep up with their industry they will have to accelerate the pace of their transformation.
The motivation behind digital transformation varies from business to business but 80 per cent of respondents think that providing a better customer experience is one of the key motivations. Businesses that are already in the process of executing high levels of digital change see the customer in a position of increased importance with 79 per cent believe that customer expectation is a key driver for change.
Regarding customer expectation and the hurdles faced by businesses pursuing digital transformation, the CEO of Bizagi, Gustavo Gomez said: “Customer expectation is changing the way businesses think and creating the momentum behind digital transformation. The majority of businesses are struggling to avoid the pitfalls that accompany digital transformation, and the secret to overcoming these challenges is to understand the drivers of change and create the IT agility to respond quickly.”
“Businesses can then balance ideas, collaboration and technology to overcome the obstacles they currently face and create an army of ‘can-do’ pioneers to make change happen, which will help them reap the rewards of digital transformation.”
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