Report: Digital Transformation Success and Failure
During my morning reading and research, I ran across this great set of stats provided by the Sloan MIT Management Review and Capgemini Consulting. They interviewed almost 1600 executives and managers across a wide variety of industries, and found some interesting results.
Below are some key highlights and core findings:
- There is consensus that adopting digital business process is critical to organization success. Execs and management are all in agreement that they must embark on the digital transformation journey, and modernize process and core business functions.
- Most employees find the transition process complex and way too slow. Employees and management are typically frustrated with the lack of progress and a missing sense or urgency.
- Companies who succeed have comprehensive a plan. Successful, transformative leaders share a complete vision, provide a roadmap for success, reward employees and distribute authority for implementation.
Here are some great stats as well:
- 63% of respondents say the pace of technology change is too slow.
- 93% of employees believe digital transformation is the right path.
- Most agree transformation must happen within a 2 year time frame.
- The top obstacle to success is a “lack of urgency”.
For more info, here is a link to the research: Embracing Digital Technology
For more on Paper to Digital transformation, see: The Evolution of Business Process