IDC predicts that by 2020, 30 per cent of G2000 companies will have allocated capital budget equal to at least 10 per cent of revenue to fuel their digital transformation strategies.
This shift toward increased funding is an important one as business executives come to recognize digital transformation as a long-term commitment.
With billions of dollars invested in digital transformation initiatives, executives are now exploring the impact of their investments and asking, “What’s next?”
Well, the next phase of digital transformation will focus on making sense of data so that organizations can create best-in-class digital experiences.
The challenges of digital transformation
Global organizations claim to be significantly progressing their digital transformation projects, with 39 per cent of global respondents saying these are completed or close to completion.
Satisfaction levels also seem to be high with 91 per cent of respondents saying results met and exceeded.
Respondents shared that the top five challenges to successfully sustain digital transformation are:
- Separate parts of the organization are moving at different speeds to embrace digital transformation, which holds back collective progress.
- Shortage of skilled employees.
- Restricted budgets.
- Understanding and measuring business benefits.
- Continued resistance to shutting down legacy systems.
Factors contributing to these challenges
More than 50 per cent of respondents say they find their complex new software and infrastructure hard to manage and monitor for performance issues.
Most (63 per cent) say that the pressure to respond to business needs means they are having to work longer hours to observe and manage software performance correctly.
A root cause for how teams struggle to manage modern software may be how the amount of machine-generated data is rising rapidly.
More than half (56 per cent) of all respondents acknowledged that it is humanly impossible to properly assess this data.
Harnessing the power of the cloud and to fuel digital transformation
The majority of respondents agreed that migration to the cloud is at the core of respondents’ digital transformation journey – 82 per cent in the U.S., 75 per cent in the U.K., 75 per cent in Australia, 66 per cent in France, and 63 per cent in Germany.
Many (46 per cent) agree that while migration to the cloud is great, they don’t have a clear way of knowing what their cloud bill is going to be every month.
More than half (54 per cent) also say that while cloud computing promises more efficient usage of resources, the promise of greater control is not a given.
That’s where our technology stack comes in. We work with you to ensure that your entire migration from legacy to cloud is smooth, and works exactly how you want it to.
When it comes to billing we’re upfront about the cost, so your business will never be left with an unexpected invoice.