More priority CEOs for digital transformation
Their company's growth has become less important for hundreds of CEOs, according to a study by Gartner. New strategy, setting up the organization for digital transformation and IT investments have become top priorities. Gartner questioned 460 CEOs of companies with 50+ million euro sales to their priorities for this year
Their company's growth has become less important for hundreds of CEOs, according to a study by Gartner. New strategy, setting up the organization for digital transformation and IT investments have become top priorities.
Gartner questioned 460 CEOs of companies with 50+ million euro sales to their priorities for this year. Of course growth is still at the top of the list, because in fast-changing markets, standstill is declining. But to be able to grow in a turbulent environment something else is needed: digital transformation.
The importance that the directors attach to growth sec has even deteriorated. Was 58 percent the highest target in 2017, in 2018 that is forty percent the highest goal. A decline of a third in just twelve months. That shows how quickly the drivers become aware of another, obviously more important, subject.
Gartner also shows what that subject is. Actually, these are three themes: corporate strategy (including digital transformation), IT investments finding the right people to implement the previous themes. And the latter is a concern in itself. A year ago 16 percent recruitment mentioned another problem, now that's 28 percent. Almost a doubling.
Six out of ten CEOs actually have a transformation program. Slightly more than half (54%) describe the digital component as actually transforming, slightly less than half use digital resources to optimize processes.
Perhaps worryingly, 41 percent of respondents consider themselves innovation pioneers. And that while they are thinking about the first steps in a transformation process.
Market researcher Forrester says that a number of things are needed to go through a process of digital transformation at all. First of all, there must be a widely supported vision at the top of the organization and they must actively engage in cultural and change management. In addition, the business processes need to be redesigned, good and up-to-date customer insights are available and the right qualified people are needed to do the job. This includes at least staff that can handle digital tools such as analytics, IT and site and apps.