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article imageFailure to complete digital transformation leads to revenue loss

By Tim Sandle     Feb 21, 2018 in Business
A new study examines how IT decision makers are handling digital transformation, IT operations and change management. The study concludes that failure to deliver on such programs adversely affects future business revenues.
The new study comes from U.S. based firm MuleSoft Inc., who provide platforms for building application networks, The company has issued a report called "Connectivity Benchmark Report 2018" on digital transformation initiatives and the business impact of such schemes. Initiatives include cloud computing, application programming interfaces, mobile, data analytics and online channels.
The survey is composed of the opinions 650 IT decision makers. The findings show that four out of five businesses (81 percent) anticipate an adverse impact on revenue over the next 12 months if they fail to complete digital transformation initiatives. According to a review by Forbes, of the survey results: "As a result, the people charged with delivering the goods -- mainly IT departments -- are stretched to the limit."
There are various reasons why failure to deliver might come to pass. One reason is that although IT budgets have remained static, on average, many managers of IT departments have experienced project volumes grow (this is around 27 percent year-on-year). Typically organizations are using 1,020 individual applications across their business. Consequently, IT departments are unable to fully dedicate time and resources for the successful execution of projects to agreed deadlines. Here two-thirds of IT managers stated they were not able to deliver all digital based projects within the last year.
Another concern is with integration. This issues of joining together old and new systems is reported to be a significant drain on time, budget and other resources. The MuleSoft survey outcome suggest the overwhelming majority of respondents (89 percent) consider that integration challenges are slowing digital transformation within their respective organizations.
As digital efforts continue to accelerate, these issues that hamper the implementation of digital technologies need to be adequately addressed to prevent a company losing ground to more focused competitors in the longer-term.
More about digital transformation, Integration challenges, Digital
 
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