New research commissioned by Paragon DCX has revealed that close to half of businesses in the UK (44%) are not creating a culture and technology environment which enables them to respond quickly to opportunities and threats.
The research, conducted by London Research, sought to discover whether the focus of businesses today should revert back to the characteristics that make a company more competitive in any era of constant change – a strong, adaptable culture, operational effectiveness, and a customer-centric mindset. But with the difference that these are now all enabled by digital.
The report, entitled Digital transformation is dead. Long live business agility., reveals that buy-in from the CEO and company leadership team is critical for ongoing investment in digital initiatives, and this investment typically depends on demonstrating commercial value in the form of tangible financial benefits.
Worryingly though, less than half of organisations (49%) think the impact of digital transformation on revenues is very measurable. The risk of no return remains a significant barrier to digital investment.