The good news is that we can help you get started.įirst, we’ll explain what digital transformation is. That gives you less than 12 months to digitally transform your organization before you start to lose business. The same study found that 55% of businesses believe they have less than a year before they start to suffer financially and lose market share. In their State of Digital Business Report, Progress revealed that 47% of companies haven’t started their digital transformation yet - while 59% are worried that it might already be too late for them. However, despite this forecast, we’re far from complete digital adoption. And 70% of organizations already have a digital transformation strategy or are working on one. In fact, 79% of companies admit that COVID-19 increased the budget for digital transformation). One of the main benefits is faster time to market, with 36% of businesses citing this as a key advantage. Global digital transformation spending will reach $6.8 trillion by 2023. which explains the increase in digital spending.īack in 2018 the net global spending on digital transformation was approximately $1 trillion. Research shows that 35% of business executives claim that digital transformation helps them to better meet customer expectations and improve operational efficiency (40%), and 38% of executives plan to invest more in technology to make it their competitive advantage.

It's their journey that dictates your strategy.Īnd in order to keep up with this new kind of “always-connected” customer, your business must embrace technology to deliver an unmatched customer experience.įortunately, putting the customer first is already at the center of many organizations' strategy. Today, customers expect relevant content in relation to what they’re doing anytime, anywhere and in the format and on the device of their choosing. Instead, this change is being driven by the customer. What’s interesting about this is that it’s not the companies that are driving this change. Digital transformation is forcing companies to change their business models and adapt to the new market reality.

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