Digital transformation: 5 trends
"This year's CGI Global 1000 customer survey shows that most companies have already taken extensive measures to implement a digital transformation strategy and have made great progress. Legacy systems have been modernized and linked to a digitized business and operating model," said Michael E. Roach, President and CEO of CGI.
According to CGI, the key issue today is to develop sustainable business models that will provide companies with a solid foundation on which to develop and grow over the next ten years. As part of its Customer survey the IT company writes that it has identified five key trends that make the need for transformation even clearer:
- Over 70% of executives said that consumer behavior in digital channels is playing an increasingly important role. Customers expect personalized and comprehensive digital capabilities including integrated banking, retail and consumer services to be available to them across all channels. Leading communications companies go so far as to claim that everything will be done digitally in the future.
- For 62% of the company is Safety now a differentiating factor. With the goal of integrating security into their value proposition, corporate cyber security programs are increasingly proactive, rather than reactive and compliance-based.
- For 50% of companies across industries, stringent regulatory requirements are a major burden. This ongoing trend is continuing at a rapid pace and means that companies must increasingly focus their attention on the material impact that data protection laws have on their business.
- One-third of executives say their business models need to be structurally adjusted. For the first time, executives expressed the view that their companies need to make structural adjustments to meet the interests of their stakeholders and boost growth.
- For around 30% of companies, IT is the driving factor for change. The role that technology plays is shifting: It is no longer a purely technological basis for new business and operating models, but is actively driving their development. More than 70% of executives want to increase or keep their IT budgets stable to accelerate digital transformation.
Organizations are aware of this global dynamic and are gradually implementing enterprise-wide digitization projects. For more than 70% of executives, implementing internal changes is the biggest challenge, CGI said.
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