IFS research shows that 40% of businesses are not ready for digital transformation
They survey also showed that despite being unprepared roughly 86% of companies surveyed expect digitalisation to play a key role in the future.
IFS, a global enterprise applications company, recently unveiled findings from its Digital Transformation Survey.
Compiled from 500 senior executives from companies in over 20 countries and across a variety of sectors, the survey found that only 40% of businesses had prepared themselves for digital transformation. Additionally, 86% of survey participants expect digitalisation to play a key role in the future of their respective markets.
Commenting on the survey, Mark Boulton, CMO at IFS shared: "This survey shows that senior leaders of large industries have realized the potential that digital transformation offers, but in many cases haven´t got a strategy in place to leverage it yet"
He added: "It appears there is also a great uncertainty regarding who is actually responsible for driving the digital transformation agenda within companies. Companies must clarify their goals and outline clear strategies in order to utilize the full potential of digital transformation."
Additional findings also showed that within an organisation, the responsibility for driving digital transformation differs greatly from entity to entity.
While CIOs held the highest figure at 40%, they were closely followed by CEOs at 39% and CFOs at 35%. Meanwhile, CTOs and CMOs held 20% and 6%, respectively, and were not typically considered influential in this area.