Digital transformation is undoubtedly a priority for business leaders, with 66% of leaders saying they have plans for a digital business transformation, according to a recent Gartner report. However, only 11% of leaders admitted to achieving the transformation at scale, Gartner found.
While reaching that level of success with a digital transformation is difficult, the payoff is well worth it. Companies that have successful digital transformation initiatives can expect to see a 17% return on investment (ROI) over the next year, according to an Avanade report.
SEE: Digital transformation: An IT pro’s guide (free PDF) (TechRepublic)
The report, conducted by Vanson Bourne, surveyed 1,150 global decision-makers to gain insight into the various impacts of digital transformation in the enterprise.
Almost all respondents (96%) said they have a digital transformation strategy in their companies, the report found. However, 43% of professionals said their organizations are becoming fatigued by the digital transformation efforts, resulting in fewer completed projects.
This fatigue is a result of many factors, the report found. Some 46% cited hiring and training people in the skills as the biggest challenge, while 35% said they are struggling to modernize legacy systems.
Regardless of the obstacles, organizations expect digital transformation projects to reduce costs by 10%, increase productivity by 11%, and increase business growth by 10%, according to the report.
Some 83% of respondents said employee engagement, and customer experience solutions should have equal priority when planning these initiatives; and 88% agree that integrating innovation into business systems is necessary for agility and continued improvement.
For more, check out Why most digital workplace initiatives will fail on TechRepublic.
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