Digital transformation is generally seen as positive, propelling businesses forward into a safer, better future. But according to Wipro Digital, companies are actually struggling to get there.
Its new report, based on a poll of 400 senior-level executives, digital transformation isn’t progressing as expected.
Half of respondents claimed their company is not successfully executing half of their strategies.
There are three key factors which are hindering digital transformation efforts: leadership, definition & terminology, and strategy.
Almost a fifth of senior executives believes digital transformation initiatives in their businesses are a waste of time. More than nine in ten (91 per cent) thinks their organisation is aligned on the definition of digital transformation – but 25 per cent thinks the biggest obstacle is the ‘lack of alignment on what digital transformation actually means’.
Not having a clear strategy on how to go about digital transformation was also something that was cited by 35 per cent of polled respondents.
“Digital transformation efforts are coming up short on intended ROI, in part because digital transformation is as much a leadership issue as it is a strategy, technology, culture, and talent issue,” says Rajan Kohli, Senior Vice President and Global Head, Wipro Digital. “Real digital transformation occurs when courageous leaders align goals in practice as well as theory, manage opportunity more than risk, and prioritize the future vs. retrofit the present.”
Operations and IT (back-end departments in general) are seen as the leading beneficiaries of digital transformation strategies. The report also claims that CMOs are spending more than ever on IT, but they are the least likely, of any senior executive, to drive digital transformation strategies.
You can find out more about the report on this link (opens in new tab).
Image Credit: Konica Minolta Business Solutions UK