Source | www.cio.com | Clint Boulton
More companies are building digital capabilities that deliver business efficiency or top-line revenue growth in 2020. But the progress of Big Bang digital transformations varies — as does executives’ understanding of what that entails.
Sixty-six percent of CIOs said they are transforming their businesses, but based on those respondents’ descriptions of their digital initiatives the number is closer to 10 percent, according to a research note Gartner published in 2018.
Some organizations count migrating from on-premises systems to hybrid clouds as evidence of digital transformations. Others modernize their financial software by embracing ERPs that incorporate real-time analytics. Still others use digital technologies to improve the customer experience. Organizations may do all three, but without changes to existing business processes and products, such projects qualify as optimization, not transformation, Gartner added.
Even so, investment in transformational technologies continues apace, growing at a 17.5 percent compound annual growth rate to top $7.4 trillion between 2020 and 2023, according to IDC research.
Here CIO.com discusses progress companies are making as they embrace change leveraging digital technologies.