Digital technologies are now a central part of many businesses, with more than 90% of executives from various sectors stating that they have digital initiatives underway. Despite this, only 40% of respondents feel that their organisations are prepared to carry out a successful digital transformation. The survey also found that companies are focusing on digital customer engagement, with data analytics being the most commonly used tool.
Interestingly, a significant number of executives cite organisational issues as the main hurdle to digital success, rather than technical ones. A lack of understanding of digital trends, insufficient talent, and poor organisational structure are some of the challenges affecting digital transformation.
The survey also reveals that companies with successful digital transformations have clear digital strategies and are more likely to use new methods to organise work, such as agile practices. These companies also place a greater emphasis on talent, frequently hiring or developing digital talent.
In terms of sectors, high tech and telecoms are at the forefront of digital maturity, while the public and social sectors lag behind. Despite this, the public sector has seen the greatest increase in digital initiatives, indicating a growing awareness of the importance of digital transformation.
In conclusion, the survey suggests that to succeed in digital transformation, companies need to focus not only on technology but also on organisational and talent issues.
Go to source article: http://www.mckinsey.com/insights/business_technology/The_digital_tipping_point_McKinsey_Global_Survey_results?cid=DigitalEdge-eml-alt-mip-mck-oth-1406