2019: The Year of Digital Decisions
A recent study undertaken by the Economist Intelligence Unit concludes that a vast majority of businesses will increase their investments in digital technology over the coming year, and many expect IT modernization to fuel future transformation efforts that lead to cost savings and higher profitability.
The study, “2019: The Year of Digital Decisions,” was commissioned by DXC Technology to explore how companies define digital transformation and the resulting business outcomes. Significantly, the report reveals that more than eight in ten survey respondents (83 percent) expect their organizations to increase their digital investments in 2019. And more than 40 percent of respondents predict that their organizations will increase their investments by 11 percent or more.
DXC worked with Leading Edge Forum to inform and shape thinking about how to define digital, and some of the key challenges that should be explored, highlighted by findings from recent Leading Edge Forum research reports.
Some findings such as continued investment in digital are perhaps unsurprising. However, the report does reveal what many companies aim to achieve by digitally reinventing themselves, as well as the challenges they must overcome and the cultural changes they need to make. Other key findings include:
- Digital and business strategy formulation are entirely or almost wholly aligned at 72 percent of companies.
- Three-quarters (75 percent) of respondents say digital transformation will lead to greater agility and 76 percent report that modern digital IT infrastructures better position their companies to produce value for their stakeholders.
- Approximately one-third (33 percent) of respondents say the lack of a tech-savvy workforce is a barrier to transformation.
- Nearly three-quarters (72 percent) of companies agree that a change in culture is necessary to digitally transform any organization. That figure is even higher for companies in developing regions and those that have implemented digital strategies only in the past two years.
Leading Edge Forum works with clients to help them reimagine their business in a digital world. We create thought leadership, provide context-specific advice & facilitate interventions with clients. Our research and advisory helps clients to challenge themselves on the issues and goals highlighted in this study.