Most enterprises have a digital transformation strategy, but few have completed it

Dive Brief:

• Nearly 90% of enterprises have begun creating a digital transformation strategy, according to a new study from Ovum.
• But most enterprises still have a long way to go.
  

  

  Dive Brief:

  • Nearly 90% of enterprises have begun creating a digital transformation strategy, according to a new study from Ovum.
  • But most enterprises still have a long way to go. Of those that have a digital transformation strategy underway, less than 10% are complete, and only 22% are “well advanced.”
  • Higher education, financial markets, payments and retail banks are the industries furthest along, while healthcare, retail, and government are lagging behind. 

  Dive Insight:

  Ovum’s study was based on interviews with more than 7,000 senior IT decision makers in over 60 countries.

  Digital transformation is growing more critical to businesses’ ability to remain competitive. A recent survey released by Quickbase indicated digital transformation is now a priority for an overwhelming 97% of the C-level respondents. And an August study from International Data Corporation found most IT spending worldwide is currently spurred by investments in solutions that enable digital transformation efforts. 

  But digital transformation is not always easy for companies. Take Newport News Shipbuilding, for example. The submarine-maker is heavily regulated, making it difficult for the company to technologically innovate. When CIO Bharat Amin joined the company two years ago, smart devices weren’t allowed, relegating employees to flip phone use.

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  This post originally appeared on our sister publication, CIO Dive. Our mission is to provide busy professionals like you with a bird’s-eye-view of the Information Technology industry in 60 seconds. To subscribe to our daily newsletter click here.