Digitally-savvy Customers Expect More
According to global market intelligence firm IDC, worldwide spending on Digital Transformation technologies reached $1.3 trillion in 2017; forecasted to surpass $2.1 trillion by 2021. Why so much? #DigitalTransformation is fundamentally enabling businesses to get closer to their customers and thereby accelerating achievement of their mission through innovative, digital solutions.
"Out of the companies who ignored work culture during digital transformation efforts, only 17% saw improved financial performance. But, 90% of companies that did focus on digital culture saw incredible financial performance. Additionally, 80% of companies that prioritised digital culture sustained breakthrough performance.”
- Boston Consulting Group (2018)
Given the scale and imperative of these technology investments – along with the workforce responsible for evaluating and deploying these modernisation solutions – leading executives no longer view IT as a ‘cost of doing business.’ Investments in technology – and technology professionals – are now recognised as transformational assets that enable these organisational leaders to reimagine and redefine their business value, while simultaneously improving the customer experience with enhanced data analysis, and data-led change.
There is broad consensus that #DigitalTransformation is much more than simply enhancing your technology platforms. Organisations are developing a digital business strategy that includes modernising the culture, redefining operating models, innovating product and service strategies and finally, developing and honing modern skills necessary to serve today’s digitally-savvy customers within a highly disruptive, technology-centric marketplace.