Digital transformation, with all its benefits and promise, is a challenging project to implement, according to a new report from PFU Limited.
The report claims that more than a third of businesses “don’t have a clear plan” for navigating the digital transformation journey. As a result, these firms are at risk of being left behind by the competition.
More than half of respondents said their goal for driving technology innovation was to accelerate business growth or remain competitive in a disruptive environment. However, many roadblocks stand in the way, not least those associated with security risks and regulatory compliance.
For half of the organizations surveyed for the report, digital transformation is proving a challenge. The majority believe it’s impossible to go fully paperless, especially given the amount of information that needs to be processed on a daily basis.
For this reason, many have turned to external experts for advice and support.
“Viewing the organization as a single interconnected system of knowledge flows that can complement each other opens up opportunities for a business to gain maximum value from the information it has access to, and increase organizational intelligence,” said John Mancini, ex-President of AIIM.
“It’s reassuring to see that, despite the challenges businesses face, many are actively navigating their digital transformation journey to unlock their full potential.”
“Digital transformation is no longer a ‘nice to have’ for organizations, it’s a business imperative as more accelerate their technology investments to be able to thrive in today’s highly-dynamic workplace,” said Mike Nelson, Senior Vice President, PFU (EMEA) Limited.
“However, without the capacity to gain valuable insight from the information they hold, organizations will not unlock the full capabilities that digital transformation can enable."