In recent years, enterprises have made significant investments in digital transformation initiatives, primarily to pursue corporate objectives of improving revenue, attaining operational efficiency, or enhancing customer experience. However, most enterprises struggle to realize meaningful returns to grow or even sustain these investments. This gap in anticipated versus realized returns arises primarily due to a gross misalignment between digital transformation strategy and the corporate strategy. Enterprises are also battling with challenges such as traditional mindset, cultural differences, and a lack of clarity in vision, which limits the effectiveness of digital initiatives. The industry is facing a huge gap in the demand and supply of trained Workforce, which further restricts them from accomplishing transformation agenda.
In our survey covering over 180 CXOs from global enterprises, we identified enterprises that have realized meaningful and sustainable outcomes from their digital transformation investments. These enterprises have adopted a pragmatic approach to investment with substantial focus on leveraging synergies, ensuring organizational alignment, assessing cultural readiness, and emphasizing on innovation. Such leading enterprises have also been making strategic investments across their technology, data, and talent aspects to realise their vision.
In this report, we have analyzed the enterprise investment landscape to identify eight principles for a successful digital transformation. We have also detailed the actionable items that the organizations can embrace to realize full value from their digital investments.
Scope:
Key challenges faced by the global enterprises in carrying out digital transformation
Effective strategies adopted by the organizations that have successfully transformed their business digitally
Key success factors and recommendations for enterprises for digital transformation
