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Organizations that continued full speed ahead with their digitaltransformation initiatives during the COVID-19 pandemic are able to ruminate on what went right and what they would have done differently, with the benefit of hindsight. CIOs and other IT leaders share seven secrets of how to get digitaltransformation right.
Once a vanguard business strategy, digitaltransformation has become a perennial objective for business survival. Most CEOs (72%) continue to prioritize digital investments, according to the 2022 CEO Outlook report from KPMG, in part due to concerns about emerging and disruptive technology, a top three risk to organizational growth.
Digitaltransformation has become an essential part of business success. According to TEKsystems’ 2023 State of DigitalTransformation , 41% of organizations’ digitaltransformation (DX) initiatives have failed to achieve their desired outcomes. That’s not digitaltransformation. Others agree.
Are you thinking about initiating a digitaltransformation campaign in your company? Boston Consulting Group conducted a digitaltransformation study in 2020 to find out why such projects are missing the mark. Lack Of Expert Assistance How hard can digitaltransformation be? “I Let’s get started.
If you think you’re keeping up, think again: One recent study from research firm Gartner found that the majority of CEOs (59%) say digital initiatives take too long and 52% take too long to realize value. The pressure is on to accelerate digitaltransformation, according to CIOs, researchers, and analysts.
Corporate projects are classically evaluated on standard matrices such as return on investment (ROI), break-even period, and capital invested. But as organizations look to quickly leverage the power of emerging digital technologies for business growth, such an approach is falling short on expectations.
One can automate a very complicated and time-consuming process, even for a one-time bespoke application – the ROI must be worth it, to justify doing this only once. IA refers to the addition of “intelligence” to the RPA – transforming it into “smart RPA” or even “cognitive RPA”. The average ROI from RPA/IA deployments is 250%.
In Transform to Win , we explore the challenges facing modern companies, diving into their individual digitaltransformations and the people who drive them. This is a key element of a digitaltransformation. Digitaltransformation has proven benefits. Become data-driven to succeed. They’re right.
Therefore, always-lurking tech debt gets put on the backburner, says Daniel Saroff, group vice president for consulting and research at IDC. Talk about digitaltransformation.” For big projects, ROI is incremental, Beerman notes, with little savings building up over a series of months or quarters.
Digitaltransformations hold the promise of improved efficiency, enhanced customer experiences, and increased competitiveness in the manufacturing industry. A key reason for failure lies in the challenges associated with obtaining a satisfactory Return on Investment (ROI). Understanding the ROI challenge Industry 4.0
But the partnership seeks to go beyond Cognizant’s internal use, with Microsoft and Cognizant teaming up to promote generative AI use across Cognizant’s global client base through the advisory and digitaltransformation services arm of Cognizant’s business. Generative AI, IT Consulting Services
The study identified the top CEO priorities as, among others, leading digitaltransformation, reducing security risk, strengthening collaboration with executive colleagues, and implementing AI. That’s not all, though, says Yang Shim, technology consulting leader with professional services firm EY Americas.
Like most CIOs you’ve no doubt leaned on ROI, TCO and KPIs to measure the business value of your IT investments. Of late, concerns about the public “cloud-first” approach have emerged to challenge business value and skewer ROI, TCO and KPIs. Maybe you’ve even surpassed expectations in each of these yardsticks.
Enterprise digitaltransformation and data. Most organisations undergoing a digitaltransformation understand that data is critical, but how many are actually managing data as an asset ? Your digitaltransformation initiatives fail. How data assets help enterprise digitaltransformation initiatives succeed.
Enterprise transformation demands technology to work and people to adopt it. The “people” component of enterprise transformation can make or break digitaltransformation. While strong ROI is compelling, so is the fact that people issues are one of the top enterprise risks. What should companies do now?
With the merging of operational efficiency and embracing new technologies, today’s CIOs are under increasing pressure to do more with less and become both technologists and business leaders, says Sunny Azadeh, CIO at digital services company GlobalLogic. “In
Despite digitaltransformation being a highly effective way to further develop the long-term business model, it can be a very drawn-out and arduous process. And more than 22% of respondents are still asking themselves about the benefits or ROI after they’ve started their cloud journey.
Even Goldman Sachs, previously bullish on the AI story, has raised concerns over whether there’ll be positive ROI for many of the investments being made in the technology. Earlier this year, consulting firm BCG published a survey of 1,400 C-suite executives and more than half expected AI and gen AI to deliver cost savings this year.
“Data is the new corporate currency” This phrase is regularly thrown around but most organisations are not connecting the dots, failing to see their data as a tangible asset in order to help their digitaltransformation efforts succeed.?. Your digitaltransformation initiatives fail. The result? The answer?
With this objective in mind: Determine your organization’s innovation appetite (versus its risk appetite; it is too early to speak of ROI in the metaverse). Successful companies stay focused on delivering products and services in any technology context. Are we trying to improve efficiency? Are we trying to unlock a new market?
But as digitaltransformation efforts have intensified in recent years, CIOs have had fewer opportunities to pause and reevaluate IT’s financial situation. Even as they recognize digitaltransformation as the primary driver of business growth, many CEOs expect IT to do it all while keeping budgets flat.
With the AI revolution underway which has kicked the wave of digitaltransformation into high gear it is imperative for enterprises to have their cloud infrastructure built on firm foundations that can enable them to scale AI/ML solutions effectively and efficiently.
Innovative organizations understand that using new technology in an outdated or obsolete way does not support digitaltransformation. What should companies do now to gain the greatest ROI? Learn more about Protiviti’s Technology Consulting Services, visit us here. Protiviti Managing Director, DigitalTransformation.
-based venture capital firm Sequoia Capital and Houston, Texas-based waste management and environmental services provider WM are making it a priority to finish what was started and refine processes to ensure optimal ROI. This year’s research also confirmed CIOs’ dominant leadership role in defining and spearheading digital innovation.
Gone are the days of the CIO being a back-office IT cost manager,” declares Chris Scheefer, vice president of intelligent industry at technology services and consulting firm Capgemini Americas. Today’s CIO must adapt and become a business strategist, a digital innovator, and an orchestrator for business.”. Are you up to the task?
For her part, Mathur says EDT’s proposal to adopt a digital twin felt like a “no-brainer” because it would lay the foundation for even further digitaltransformation. “My Every time you build a car or a plane, you have a virtual representation of everything, whether it’s a 2D or 3D design, and I equated that to a digital twin.”
IBM, for one, found that the average ROI on enterprise-wide AI initiatives at 5.9% with best-in-class companies “reaping an enviable 13% ROI.” Their enthusiasm is justified, with multiple studies finding that AI is delivering strong value and returns on investment. No wonder that they’re all talking about it.
We provide current and new clients the unique opportunity to take advantage of the combined value from our technology, cloud, and consulting services alongside our ecosystem of partners to meet ever-evolving business needs. times higher ROI versus public cloud alone. Because we know a hybrid cloud approach brings an average of 2.5
CIO.com: Can you detail the Bin Dasmal Group’s digitaltransformation process and how changes have helped improve business performance? This has to be achieved by investing in the latest available technologies with lower total cost of ownership and maximizing ROI. CIO, DigitalTransformation
As global CIO, Karaboutis is the chief architect of the $20 billion British multinational’s digitaltransformation in the UK as well as in New York and New England. And in so many cases, it’s not pure ROI and cost savings but it’s removing hidden costs and shared costs of managing technical debt, like not having to do upgrades.
However, while embracing hybrid cloud might be intrinsic, clients continually seek to derive business value and higher return on investment (ROI) from their investments. The lack of ROI progress can be attributed to several factors, including slow adoption, unrealized use cases and unaddressed cloud sprawl.
Moreover, Scavuzzo saw an additional business benefit to such an approach, thanks to scale: Using anonymized data, Marcum could analyze and compare client performance and thereby provide better consulting advice to them. That allows us to help the businesses we service be more successful, more profitable.
Here are six things to consider: • Work with the business to identify the most practical use cases that will yield ROI. Connect with the Author Protiviti Managing Director Kim Bozzella is the Global Leader of Technology Consulting. DigitalTransformation Learn more.
Three years ago, IT leaders were squarely focused on how to adopt fledgling AI techniques and approaches into their business models in service of digitaltransformations that included plans for shifting some workloads to the cloud.
He says generative AI’s “potential is great; it will transform many industries. But it should be noted that digitaltransformation is complex and time consuming; it’s not like a firm can just take a GAI ‘black box’ and plug it into their business and achieve increased efficiency right away.
Review, beef up access controls One of the biggest risks around AI is data leakage, says Krishna Prasad, chief strategy officer and CIO at UST, a digitaltransformation solutions company. That in turn could keep workers from chasing AI solutions on their own in the hopes of finding a panacea to all their problems.
In a recent article , we discussed the connection between digitaltransformation, innovation, and rising IT complexity. Most security teams with dozens of tools will admit they don’t really know how well they’re working,” comments Chris Hughes, cybersecurity consultant, and university lecturer. DigitalTransformation
Panorama Consulting Solutions, which regularly surveys businesses on the outcomes of their ERP projects, shows in its 2022 report that 81% of projects met ROI expectations a year or more after go-live. The move to a cloud-based ERP system came several years into a broader digitaltransformation at Ranpak.
The return on investment (ROI) as a result of efficiencies gained, reduction of unnecessary medical spend, and improved member experience scores, can be in the hundreds of millions for mid-sized payer with 3 million members.
Instead, failure today means an IT project doesn’t deliver some or all its expected benefits, according to CIOs, project leaders, researchers, and IT consultants. He adds: “DevOps can address a change very quickly, but whether that change is the right change or if it delivers ROI is a very different question.”
Tune in to hear his outlook on how AI is powering new digital business models, aiding digitaltransformation efforts, and delve into the value roadmap for increased AI adoption. You’re listening to AI to Impact by BRIDGEi2i, a podcast on AI for the digital enterprise. So why digitaltransformation?
But when it comes to PDF editors, a recent study from Forrester Consulting shows that this is not the case. In fact, by switching from a legacy PDF editor to a lower cost alternative, organizations saw a three-year ROI of 284%. DigitalTransformation. A lower price tag often comes with a pared down, lower-quality product.
In Monetizing Your Data , we look at digitaltransformation: the ways of turning data into new revenue streams and apps that boost income, increase stickiness, and help your company thrive in the world of Big Data. Charles Holive, Managing Director, Strategy Consulting, Sisense. Michael Corcuera, CEO of Erea Consulting.
Organizations struggle with trade-off decisions on the ROI to move to the cloud while upskilling their IT organizations to support the new capabilities. The voice of the customer needs to be core to the ability to align business and technology in delivery.
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