CenturyLink (NYSE:CTL) has announced results of a commissioned study on the digital transformation of global enterprises, which provides insight into how, why and at what pace organizations are preparing themselves for the digital future. As quoted in the press release: 51 percent of enterprises have a formal digital transformation strategy 23 percent are working on … Continued
CenturyLink (NYSE:CTL) has announced results of a commissioned study on the digital transformation of global enterprises, which provides insight into how, why and at what pace organizations are preparing themselves for the digital future.
As quoted in the press release:
- 51 percent of enterprises have a formal digital transformation strategy
- 23 percent are working on siloed digital projects, but without an overarching strategy
- 19 percent are still in the planning stages
- 7 percent currently have no ongoing digital transformation strategy
The findings will be highlighted during a webinar titled, “Turn Disruption into Differentiation,” scheduled for 1 p.m. Eastern on May 24. To attend, click here.
The survey – which polled executives in North America, Europe and Asia Pacific – found that disruption will continue to ramp up over the next three years, with 42 percent of study respondents expecting major disruption as the deployment of new digital technologies continues to play out in their respective fields. This will continue to change the competitive dynamics of their markets in the process.
“In a global economy that’s dominated by disruption, innovation and cyber threats, speed to market is of the essence,” said Bill Hurley, chief marketing officer for CenturyLink. “However, the complexities associated with digital transformation can result in numerous roadblocks. Moving to a superior network and employing agile cloud technologies are keys to simplifying the transformation process. This approach is a foundational element of success in digital transformation.”
“Digital transformation programs are now being viewed as strategic, long-term initiatives and typically receive the support of top-level executives,” said Sheryl Kingstone, director of customer experience & commerce at 451 Research, who authored the survey. “In fact, 60 percent of enterprises are increasing their IT spending levels to achieve the significant benefits of digital transformation.”
The Four Pillars of Digital Transformation
As the adoption of digital systems, tools and processes disrupts every industry, it is critical that enterprises transform the way they do business quickly and securely. According to the study, executives at organizations worldwide commonly identify with four key pillars of competitive differentiation to target with internal digital transformation initiatives. These four pillars are:
- Improve the level of business agility – 53 percent
- Better manage business risk – 49 percent
- Improve operational efficiency – 41 percent
- Improve the internal or external customer experience – 41 percent