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5 Challenges to Digital Transformation
According to EY’s Digital Deal Economy Study, 90% of organizations are prioritizing digital transformation in their strategic planning over the next two years. Let’s take a look at the major challenges faced by digital transformation in 2018.
The EY study finds that there is a significant gap of 15% between the importance of digital transformation on a company’s agenda and the skill of the person chairing this domain. They found that in 56% of cases, the board assigned the responsibility for managing digital transformation to the CEO, instead of a senior leader specializing in digitalization.
A Nintex survey found that while 67% of managers are aware of the organization’s digital transformation efforts, only 27% of non-managers have any knowledge about it. Moreover, 35% of organizations lack interdepartmental communication strategies leading to a slowing down of overall progress.
According to the Deloitte Consumer Review, nearly 75% of organizations find it difficult to attract and recruit people with the appropriate digital skills and experience, while 64% of organizations struggle to retain the talent that they already have.
An Accenture survey found that 76% of CFOs believe that integrating their siloed legacy processes is the only effective solution to achieve “one version of the truth” and ensure an efficient digital transformation.
Fortinet’s 2018 Security Implications of Digital Transformation Survey reported that 85% of respondents held the view that security issues during digital transformation had a “somewhat to extremely large” business impact, while Forrester research found 31% of IT decision-makers express worry about the security aspects of digital transformation.