Gain valuable insights on digital transformation with a collection of reputable sources of case studies, surveys, and industry analysis.
Why digital transformation is essential for industry leaders?
Reports produced by expert analysts and large-scale organizations explore the significance of digital transformation in the present-day business setting.
“… digital transformation goes beyond just the digitalization of goods and services. It represents a new development paradigm, reimagining how society works in terms of value creation, management, use and distribution through applications of disruptive technologies such as AI, digital data, connectivity, and online networks.”
– Economic and Social Commission for Asia and the Pacific (ESCAP), Digital Transformation Report 2022
Enhanced ROI and customer management:
Senior executives from 750 firms worldwide report a significant increase in revenue by 71 percent and profitability by 51 percent.
Source: Experiences with digital transformation by Broadridge, in collaboration with Thoughtlab Group
Reinforced data security:
87 percent of respondents from 11 key industries cited improvements in cybersecurity and IT security as the top benefit of digital transformation. Allowing agile development and processes will enable businesses to cut back on costs and streamline operations effectively.
Source: 2021/2022 Digital Transformation & Cloud Survey published by Baker McKenzie
A major differentiator in competitor performance and growth:
Organizations adopting a combination of technologies to boost performance outperformed competitors by six percentage points in revenue increase and profitability in 12 of 18 industries surveyed. The COVID-19 pandemic enabled organizations to put their digital transformation initiatives to the test.
Source: A digital acceleration study conducted by IBM across 18 industries
Time is of the essence in a digital transformation journey
Businesses must begin exploring their options in digital transformation before it is too late and they suffer financial repercussions. To date, 70 percent of organizations report implementing or brainstorming a digital transformation strategy.
Source: The Progress Global Survey 2016
Key Findings about Digital Transformation
Facts, figures, and major takeaways on the goals and priorities of a successful digital transformation initiative.
- AI drives great results in promoting reliable communication and customer engagement. The versatility of AI-powered applications makes it a core technology in adopting a digital transformation strategy. (Baker McKenzie)
- Automated responses, chatbots, and more promote stronger relationships between customers. 53 percent of industry leaders implement AI to encourage round-the-clock customer engagement. (IBM)
- Larger organizations and business firms are more likely to accelerate their digital transformation initiatives further. However, businesses of all sizes can shift business models and embrace digital transformation with the right resources and investments. (Broadridge)
- With a success rate of 60 percent, the technology sector takes the lead in embracing digital transformation. Industry leaders are naturally inclined to adopt digital strategies to enhance operational performance and agility. (BCG)
- 64 percent of organizations worldwide are still deploying pilot tests before launching their official digital transformation initiative. A smaller percentage of companies have yet to acquire vital resources to support their digital shift. (PwC)
- Digital transformation is a long-term process. 46 percent of organizations have yet to begin strategizing their digital transformation journey. (Micro Focus)
- Companies investing at least 3 percent of net revenue on digitalization tools and solutions yield the highest and quickest return on investments. (PwC)
- Organizations operating with flexible digital technologies can easily introduce digital transformation to different departments with minimal conflict. (PwC)
Top 9 digital transformation reports every industry leader must read
Stay in the know of industry insights and expert analysis on digital transformation with the following digital transformation publications.
- Digital Factory Transformation Survey 2022 by PwC
- Asia Pacific digital transformation report 2022: Shaping Our Digital Future by ESCAP
- 2022 Broadridge Digital Transformation and Next-Gen Technology Survey by Broadridge
- Digital Acceleration – Top technologies driving growth in a time of crisis by IBM
- What the Data Tells Us About Digital Transformation by Industry by BCG Boston Consulting Group
- 2021/2022 Digital Transformation & Cloud Survey: A Wave of Change by Baker McKenzie
- The Digital Transformation Report by Raconteur
- The IT Roadmap for Digital Business Transformation by Gartner
- State of Digital Transformation Research by Newgen
Read More on Digital Transformation:
1. People's role in Successful Digital Transformation
2. Innovative digital transformation projects for 2024
3. Embrace the future of digital transformation
4. How does digital transformation modernize customer experience?
5. Digital transformation consultation: Do enterprises need it?
