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You Only Have 40 Months to Digitally Transform?

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Hyper-Digital Transformation

You Only Have 40 Months to Digitally Transform?

We (consumers) have all changed as a result of digital technologies and platforms. Enterprises must now follow and transform,...

3 Minutes Read

We (consumers) have all changed as a result of digital technologies and platforms. Enterprises must now follow and transform, in order to support these changes and compete. Our adoption of digital technologies produces oceans of data that are today changing the competitive landscape. Digital leaders will be those organizations that use business analytics to offer deep insights into customer behaviors, wants and needs, develop new products and services, and ultimately innovate and exploit new business opportunities. Tomorrow’s winners will need to digitally transform in order to take advantage of this data. While all industries in our study believe digital transformation is important to their future success, belief does not always translate into action; our data shows many are still failing to act. One of the most surprising findings in our study is the magnitude of difference between digital leaders and digital laggards. Digital leaders anticipate huge business impacts from a wide range of digital technologies over the next 40 months, while in many cases, digital laggards don’t. These differences are reflected in each group’s priorities, budgets and strategies, and will guide their future competitiveness. 

Breaking IT

There are now over 7.6 billion mobile devices around the world – more than there are working toilets (4.5 billion)1 . By 2020, a projected five billion smartphones will be connected to the Internet with access to millions of mobile applications. Near ubiquitous access to mobile and digital technologies has resulted in massive volumes of new data available for analysis, skyrocketing customer expectations and the need for speed. These forces are shaking up IT. IT managers in our study believe the business impact of mobile technologies on their companies will jump 78% by 2020; this, in turn, will elevate the importance of cybersecurity. In fact, respondents list cybersecurity as the technology issue with the biggest business impact on their companies over the next few years 

The migration of business and commerce to mobile devices is forcing IT departments to rethink, redesign and restructure. Sales, marketing, payments and customer service are migrating to mobile and digital environments. You may think mobile is already huge, but executives in our study think its business impact will increase by another 105% in the next 40 months. Big demands and expectations from mobile and digital customers are already producing unprecedented stress on the ability of “traditional” IT to respond and out-perform the competition. Traditional IT environments were never designed for real-time speeds; moreover, conventional business processes were not designed for real-time operational tempos. 

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