Expleo, a global engineering, technology and consulting service provider, have launched their Business Transformation Index 2022.
The results of the research points to an increased urgency in digital transformation programmes, with 88% of business and IT leaders in Ireland reporting that their company boards are now more likely to approve new digital strategies as a result of the pandemic.
Global Covid-19 lockdown measures forced businesses to rapidly transform as they got to grips with new, virtual ways of working and engaging with customers. Expleo’s research shows that this has resulted in a permanent shift in mindsets, with digital services scaling up the value chain.
The global research, which included a survey of 110 business and IT leaders in Ireland, found that the pandemic spurred rapid digitalisation in most organisations operating here. The study found that 8 in 10 businesses in Ireland accelerated their digital transformation plans as a direct result of Covid-19, by an average of 14 months.
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Compared to all other countries surveyed, Irish organisations are the least likely to face problems implementing a ‘digital first’ culture across their business, with 53% of respondents saying it is an issue.
Business and IT leaders believe that this mentality is reflected by the government, as 80% of businesses believe it supports and understands the digital transformation needs of businesses.
Business and IT leaders also cite improved customer experience as the leading driver for transformation projects: 51% of those surveyed in Ireland say they will seek to improve customer experience through digital transformation. Meanwhile, 48% say that it will help them to innovate and bring new offerings to market, while 45% will seek to transform their business model and ways of working.
To support these goals, 54% of business and IT decision-makers in Ireland believe that a bold approach to digital technologies will leave them better-placed to succeed. By comparison, just 28% believe that a cautious approach that waits for technology to mature is more likely to lead to success.
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This proactive mindset is matched by a bullish attitude to investment: 66% of respondents expect to increase tech budgets by at least 10% in the next five years, with more than one in three (36%) anticipating an increase in budget of over 30%.
Commenting on the research Phil Codd, Managing Director at Expleo Ireland, said: “Long before Covid-19 was first discovered, digital transformation was already on the agenda for many companies. From our experience, even the most dynamic, innovative IT departments were facing pushback from their boards of management because they didn’t value, or understand, the role digital played in business success."
Mr. Codd also added: “One pandemic later, all of that has changed. Organisations have learned that digital was not only critical to survival during the pandemic, but in the aftermath, too. The world has embraced a transformed reality and businesses need to be ready to adapt quickly to changes in market conditions and consumer behaviours to succeed.”
The “Business Transformation Index 2022” can be downloaded from the Expleo website.
To support businesses on their digital transformation journeys, Expleo has created the “Bold & Reliable Index” an interactive tool which enables organisations to measure themselves against nine key criteria for success, as outlined in the report. The tool can be found here.
Source: Written from press release.
