More than half (57%) of organisations surveyed by Vodafone are planning to spend more than £100k on digital transformation in the next two years. For organisations with 5,000 plus employees, 56% said their investment will exceed £1 million. These organisations are exploring a range of technologies to invest in: real-time data analytics tops the table for three-quarters of businesses, followed by Unified Communications, the Internet of Things (IoT) and Big Data.
The reason?
According to Vodafone, 79% of business leaders say digital transformation is a strategic priority, those who prioritise digital transformation are more confident about future growth. Of those businesses who see digital as a low-priority, only 17% are very confident about their future growth; for those who see digital transformation as a high-priority, this figure almost triples to 50%.
The Digital, Ready? report surveyed 2,001 business leaders across the UK, from sole traders through to large enterprises and the public sector. It found that a fifth have already successfully implemented digital transformation projects; more than half believe they are making decent progress (53%); 69% recognise that their organisation will not survive if they fail to embrace digital transformation.
Digital transformation – What’s next for business’ biggest buzzword?
Anne Sheehan, Enterprise Director, Vodafone UK, said: “It’s an exciting time for organisations as they set out on their digital transformation journey. The smallest digital steps can have a real impact on the growth and success of an organisation. Implementing the right new technology is helping businesses become smarter, more creative and more efficient.”
According to the report, the businesses that embraced digital transformation are already starting to reap the rewards: 24% have been able to reach new customers; 30% have improved customer experience, and 22% report higher staff motivation.
A CTO guide to digital transformation in financial services
