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World's biggest firms lack focus on digital

There’s been a lot of talk about how important digitisation is to business growth, but that talk doesn’t seem to have been reflected in practice. According to a new report by customer management consultancy PeopleTECH, FTSE 100 companies aren’t really that focused on digital. Just two per cent of them have a Chief Digital Officer (CDO), or similar, on board. 

And just five per cent have such a person on their senior management team.  Just above one in ten (11 per cent) have a senior digital employee listed on their website.  “The sheer impact and importance of digital cannot be under-estimated. I think that a large number of companies confuse IT and digital, and in 2016 still aren't focused enough at a board level on digital transformation,” says PeopleTECH MD, Mike Hughes. 

“Not having a chief digital officer in a senior role does not necessarily mean that organisation is not focused on digital transformation, but it can be no coincidence that organisations said to be ahead of the game with digital transformation, generally have a senior digital executive to bring it all together.” 

“The chief digital officer (CDO)is arguably the most important role in an entire organisation. Instead of digital transformation falling under the remit of the CIO, CMO or even a COO, having a CDO in place means there is a focus on integrating digital throughout the business and it prevents digital becoming isolated.” 

Hughes also added that digital transformation is a ‘highly complex’ process, which many companies aren’t implementing properly. As a result, digital teams are left siloed, often not having the right input on what the overall strategy or direction of their company actually is. 

Image Credit: Shutterstock/Sergey Nivens