Survey finds falling behind in Digital Transformation more impactful than a recession

Survey finds falling behind in Digital Transformation more impactful than a recession

According to an IDC InfoBrief and survey commissioned by Insight Enterprises, a Fortune 500 Solutions Integrator, business leaders worldwide understand they need to invest in Digital Transformation to meet a new innovation imperative, despite ongoing macroeconomic pressures and an increasingly uncertain, competitive business environment.

  • Over eight-in-10 (82%) say companies must invest in Digital Transformation or be left behind.
  • 49% say the ability to keep up with technological innovation compared to competitors is one of the greatest threats to their organisations over the next 12 months.

The 2023 Insight Intelligent Technology Report was designed to garner insights on how ongoing uncertainty in the global economy and continued geopolitical tensions, among other business challenges, are influencing digital investments among senior business leaders. The data represents insights from 1,000 business leaders around the world at enterprise-level organisations with 1,000+ employees.

Key findings reveal:

  • 52% said operational resilience is one of the greatest challenges organisations need to overcome in the next year, along with cybersecurity (56%).
  • 34% plan to invest in Digital Transformation in the next 12 months to scale distribution and monetisation of products and services; 33% intend to achieve deeper digitalisation of customer experiences.
  • While most organisations see the need to become a digital business — with 61% saying they expect to see impactful return on investment from it by 2024.
  • The greatest Digital Transformation hurdles include data privacy/security concerns (53%), lack of essential technology skills (39%) and insufficient resources for change management (39%).
  • Nearly half (49%) of Digital Transformation project failures were due to IT infrastructure integration challenges.
  • 48% of respondents said C-suite scrutiny of digital initiatives has increased at organisations over the past year.
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