UK business are failing to fully embrace digital transformation by placing too much focus on technology.
That's the somewhat ironic conclusion of a new report from Telstra, which found that focusing solely on technology rather than a wider range of business factors such as their actual employees, may in fact be hindering progress.
This was despite British businesses ranking ‘technology understanding’ as the decision-making area they felt most confident in, and over three-quarters (77 per cent) of UK respondents believing their organisation makes technology decisions ‘well’ or ‘extremely well’.
The research, which surveyed 3,810 business leaders across 14 markets worldwide, also identified a significant gap between digital transformation priorities and performance.
Whilst better efficiency through technology, managing risk and compliance and cybersecurity all ranked highly in the priorities of the UK leaders surveyed, when it came to decision-making performance, these priorities ranked as among the lowest.
Telstra says this shows that UK businesses are failing to tackle a whole-of-business approach necessary to address their biggest priorities.
And whilst UK businesses are ramping up their investment in digital transformation, with a quarter invested more than $1 million in digital transformation products and services over the past year, showing actual results may still take some time.
“Successful digital transformation relies on more than the right technology," said Tom Homer, Telstra’s Managing Director for EMEA.
"It requires the right culture, the right people and the right processes to support them. Digital transformation should be a company journey that involves upskilling and changing employee mindsets, adapting structures and ways of working, and creating teams that can maximise the new technologies being introduced.”