Five Barriers to Digital Transformation and How to Overcome Them
In the early days of Covid-19, companies were preoccupied with enabling remote work, maintaining the digital infrastructure to support taxed supply chains and keeping business systems humming along. Yet, as they begin to stabilize new ways of working, they're shifting their focus back to more strategic, long-term digital transformation initiatives that leverage changing markets and new opportunities. While the pandemic caused companies to tighten their belts in 2020, in 2021, that trend is reversing, with the understanding that technology is the way forward. In fact, according to Gartner, worldwide IT spending in 2021 is expected to grow by 4% in 2021, totaling $3.8 trillion.
Yet, while it's clear for many companies that digital transformation is the way forward, it's not always easy. According to a Boston Consulting Group study, only 30% of digital transformation efforts meet expectations, with the vast majority of them falling short. There are many things that can stand in the way and impede digital progress. The fact that companies are resurrecting their digital transformation projects, which may have been on the back burner during the early days of Covid-19, is a good thing it means that we're turning the corner toward the next normal in business. By anticipating the barriers to adoption and taking a strategic approach to implementation, you can ensure that digital transformation truly brings about the change you're looking for to drive your business forward.