Digital transformation is slowing down, but there is still a lot of work to be done

Digital transformation efforts, which have developed at a dizzying pace over the past two years, are showing signs of slowing down. Corporate culture can only absorb a certain amount of change at a time. In addition, existing technologies and data integration are two pain points that are holding back development. These factors can delay digital transformation efforts by weeks or even months.

This data comes from a recent Workday survey of 1,150 executives across all industries. As a result, 58% of business leaders say digital transformation is already slowing down or see it slowing down compared to 2020 pace. This isn’t necessarily surprising, since 2020-2021 has meant “digitize or die” for many organizations, and many digitization plans originally planned for five years have been compressed to five days.

However, the recent digital frenzy has left many questions unanswered or exposed some of them. Namely, everyone wants to go through a digital transformation, but 55% say their digital strategies in their current form cannot keep up with their business.

Security and Compliance Top Priorities for Companies

Many factors come into play. For example, while businesses rely heavily on managers and IT professionals to achieve data-driven transformation, many are limited by legacy systems and data warehouses.

Only 42% of CIOs surveyed have confidence in their teams’ ability to adopt cloud computing technologies without legacy constraints. In addition, half of IT managers (50%) find it difficult to keep up with service updates within existing technologies. Nearly six in ten (59%) say it takes weeks or months to change an automated business process.

Here are the priorities for IT and business leaders for the coming year:

  • safety and compliance (52%);
  • unification of technologies (45%);
  • data integration (42%);
  • data usage (37%);
  • skills and talents (33%);
  • technology for efficiency (32%).

Destroy the bunkers

The survey also involved the heads of financial and personnel services. For the latter, data is considered the key to digital success. 61% of them really want to use technologies that combine financial, human and operational data. More than half (51%) say the most important technology approach today is integrating data across disparate systems and breaking down internal data stores.

At the same time, 64% agree that it takes weeks or more to see results at the end of the intercourse period.

The digital fever may have subsided for now, but there is still a lot of work to be done.

Source: .com

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