One third (33 percent) of enterprises globally are underprepared for “digital transformation” – the process of replacing legacy networks and dedicated service platforms with a coherent digital environment that is flexible, cost-effective, and capable of delivering changes rapidly and dynamically – according to Ovum's ICT Enterprise Insights report for 2017.
The research also revealed that while 60 percent believe their organization’s process of digital transformation is “well advanced” or “in progress,” only 7 percent believe it to be complete.
Respondents from the financial services sector demonstrated the most confidence in enabling digital transformation, with 60 percent of enterprise IT decision makers in this industry believing the process to be “well advanced” or “in progress.” Of these organizations, retail banks claim to be the most advanced (45 percent), followed by payments, insurance and financial markets (40 percent). By contrast, respondents from the retail sector considered their industry the least prepared for digital transformation. In the public sector, 38 percent of respondents thought their sector was experiencing some or significant disruption to services from digital technologies, only 29 percent thought their own organization was affected.
The uneven maturity of digital transformation by industry and country has created a complex landscape for sales teams to navigate, but our data plays a significant role in quantifying for our customers their target markets’ investment appetite and timescales. This enables them to quickly and confidently make decisions about where to focus their go-to-market and product investments.
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 new 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. 30 percent of enterprises are only at the early or not-started stages, while 25 percent of enterprises claim to be at least well advanced in this area.
Ovum’s ICT Enterprise Insights report provides insight for Ovum clients to help determine which industry in each market region is best prepared for digital transformation, how enterprises in their target vertical markets are prioritizing their IT and communication investment, and how much IT budgets are expected to increase or decrease for their target customers in 2017.
Methodology: Ovum’s ICT Enterprise Insights 2017 is based on the world’s largest annual IT decision-maker survey, covering 7,000+ enterprises across 62 countries, 80 technologies and 15 industries.
Daniel Mayo is Director of IT, Data & Tools at Ovum.
The Latest
We're at a critical inflection point in the data landscape. In our recent survey of executive leaders in the data space — The State of Data Observability in 2024 — we found that while 92% of organizations now consider data reliability core to their strategy, most still struggle with fundamental visibility challenges ...
From the accelerating adoption of artificial intelligence (AI) and generative AI (GenAI) to the ongoing challenges of cost optimization and security, these IT leaders are navigating a complex and rapidly evolving landscape. Here's what you should know about the top priorities shaping the year ahead ...
In the heat of the holiday online shopping rush, retailers face persistent challenges such as increased web traffic or cyber threats that can lead to high-impact outages. With profit margins under high pressure, retailers are prioritizing strategic investments to help drive business value while improving the customer experience ...
In a fast-paced industry where customer service is a priority, the opportunity to use AI to personalize products and services, revolutionize delivery channels, and effectively manage peaks in demand such as Black Friday and Cyber Monday are vast. By leveraging AI to streamline demand forecasting, optimize inventory, personalize customer interactions, and adjust pricing, retailers can have a better handle on these stress points, and deliver a seamless digital experience ...
Broad proliferation of cloud infrastructure combined with continued support for remote workers is driving increased complexity and visibility challenges for network operations teams, according to new research conducted by Dimensional Research and sponsored by Broadcom ...
New research from ServiceNow and ThoughtLab reveals that less than 30% of banks feel their transformation efforts are meeting evolving customer digital needs. Additionally, 52% say they must revamp their strategy to counter competition from outside the sector. Adapting to these challenges isn't just about staying competitive — it's about staying in business ...
Leaders in the financial services sector are bullish on AI, with 95% of business and IT decision makers saying that AI is a top C-Suite priority, and 96% of respondents believing it provides their business a competitive advantage, according to Riverbed's Global AI and Digital Experience Survey ...
SLOs have long been a staple for DevOps teams to monitor the health of their applications and infrastructure ... Now, as digital trends have shifted, more and more teams are looking to adapt this model for the mobile environment. This, however, is not without its challenges ...
Modernizing IT infrastructure has become essential for organizations striving to remain competitive. This modernization extends beyond merely upgrading hardware or software; it involves strategically leveraging new technologies like AI and cloud computing to enhance operational efficiency, increase data accessibility, and improve the end-user experience ...
AI sure grew fast in popularity, but are AI apps any good? ... If companies are going to keep integrating AI applications into their tech stack at the rate they are, then they need to be aware of AI's limitations. More importantly, they need to evolve their testing regiment ...
