One third of enterprises globally are underprepared for digital transformation, and while 60% believe their organization’s process of digital transformation is “well advanced” or “in progress,” only 7% believe it to be complete.
That’s according to findings from a new study from Ovum, ICT Enterprise Insights for 2017, which covers 7,000 enterprise organizations across 62 countries and 15 industries.
Respondents from the financial services sector demonstrated the most confidence in enabling digital transformation, with 60% of enterprise IT decision makers in this industry believing the process to be “well advanced” or “in progress.”
Of financial services organizations, retail banks claim to be the most advanced (45%), followed by payments, insurance and financial markets (40%). By contrast, respondents from the retail sector considered their industry the least prepared for digital transformation. In the public sector, 38% of respondents thought their sector was experiencing some or significant disruption to services from digital technologies, only 29% thought their own organization was affected.
In addition to this, the study indicated that while IT spend is growing globally, the top 3 regions where spend is increasing most rapidly are South Asia, Southeast Asia and Latin America, with North America, Western Europe and Australia showing the slowest increase in spend.
The study closely examined the process of digital transformation currently taking place within enterprises today, and found many are struggling with omnichannel customer/citizen engagement, predominantly focused on online/mobile channels to date. Thirty percent of enterprises are only at the early or not-started stages, while 25% of enterprises claim to be at least well advanced in this area.
“The uneven maturity of digital transformation by industry and country has created a complex landscape for sales teams to navigate,” said Daniel Mayo, Director of IT, Data & Tools at Ovum.
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