Our research examines the characteristics of digital leaders to help companies make informed decisions, adapt strategies and accelerate business transformation.
"We’re transforming into a new era. All of our technology must be stacked appropriately. Communication, ownership and accountability are crucial as we strive to deliver on specific business outcomes."
Digital transformation creates new possibilities and opportunities for business. But it also produces new challenges and new means for competitors to take market share. Digital leaders have been able to capitalize on the opportunities and widen the digital gap.
The acceleration of digital transformation projects magnified the threats and challenges companies face. Navigating complexity, siloed mindsets and competing tech priorities continue to be near the top of the list of challenges for most organizations. Interestingly, a challenge that historically hovered near the bottom shot up the list in 2022. Perhaps driven by the relentless competition to attract and retain talent, organizations identified gaps in technical talent as a major challenge to meeting their digital transformation goals. Talent and expertise are finite resources. Without the right teams and partners in place, transformation projects slow or even come to a standstill. Organizations will need an ecosystem of partnerships to tackle these demanding challenges and generate the flexibility they need to be successful.
"Our inability to connect all our data sources is a major burden. We have pockets of good digital transformation, but we need to connect teams together and share information better if we hope to deliver real value."
Investments in technology and business success are intrinsically linked. Technology is no longer a differentiator. It’s an essential element of your business strategy. But simply deploying technology, without a plan, is a recipe for disaster. Companies must determine the human-based outcomes, powered by technology, that will transform their business and defend their market position. Digital leaders have clearly defined KPIs to measure how well their technology investments drive growth, attract and retain customers, and sustain profitability.
Digital technology investments drive growth and deliver the flexibility organizations need to sustain future profitability. Digital leaders that chose to aggressively invest in technology in response to the COVID-19 pandemic have realized a 12% higher return on their investments compared to digital laggards. In addition to higher returns, digital leaders are realizing a much faster return on their investment, allowing them to further widen the digital divide.
Drive meaningful change with inclusive workplace practices: In some ways, building an inclusion and diversity strategy is the easy part─it is in the tactical execution of these strategies where organizations struggle.
Hybrid by design: A hybrid workforce is a powerful model that’s here to stay. Organizations must be intentional about remote and in-person collaboration, leveraging technology that creates flexibility, agility and balance.
A new world of opportunity is dawning. One where flexible platforms and technology architectures enable agility and activate business value. Digital leaders continually reimagine their business and create sustainable value for their customers, employees and shareholders. Companies ready to embrace new opportunities can apply the models and actions of digital leaders to activate their business transformation. And face any disruption with fortitude.
No one should go at it alone. Engage a practiced expert outside of the organization to help navigate the digital transformation journey.