Achieving true digital transformation is a challenge for many brands and businesses, most of whom don’t even realize it’s needed more than adopting modern technologies, New research from software engineering firm EPAM system A key change highlights a bottleneck—the business and technology leaders of the previous companies aren’t on the same page.
new report, Three ways leaders hinder their company’s digital transformationjust released by EPAM ContinuumThe integrated strategy, technology and experience consulting practice of EPAM Systems explores this breakdown between business and technology in the companies they work in, detailing key strategies for successful transformation.
“To successfully execute digital transformation, business leaders and IT must be aligned – however, our research shows that, for many, this is not the case,” said Sandra Loughlin, PhD, Chief Learning Scientist and Head of Client Learning and Talent Enablement at EPAM, in a news release. “Real change begins at the top when executives and senior leaders wholeheartedly commit to investing in new capabilities, aligning resources, and working together in new ways to achieve shared goals and foster a culture of unity.” Commit.”
Key findings include:
- Thirty-seven percent of technology executives are educated on critical digital transformation topics including AI, machine learning and cloud migration – but only 10 percent of business executives have these skills. To drive successful digital transformation, senior leaders must understand the totality of the businessincluding technology, and develop the technical and professional capabilities to drive their companies forward.
- Sixty-nine percent of the leaders surveyed agreed that business does not speak technology and technology does not speak business. The survey revealed that only four out of 10 organizations had mandatory training on critical topics underlying digital transformation and business success.
- More than half of business owners and C-suite executives see IT as just a general support function and not a business driver. The gap between technology and business goals can result in missed opportunities for innovation and growth and wasted resources, as well as difficulty retaining skilled talent.
To help organizations bridge the gap between technology and business, the report provides detailed suggestions and resources for improving ongoing digital transformation, including:
Explaining the role of technology in business
This includes developing a shared vision and strategic plan to outline how technology is powering business strategy.
Creating Mandatory Digital and Professional Literacy Programs
For senior leaders, courses should be specific to their needs and discuss how to help employees develop new mindsets, behaviors and ways of working.
Linking Learning to Implementation
Establish common goals and shared accountability for digital transformation by planning for each area of the organization alignment operation,
“There is not a one-size-fits-all solution for successful digital transformation because each organization has its own unique culture and goals,” Loughlin said. “Leaders must be well prepared to navigate the complexities of digital transformation by acquiring the necessary skills, staying informed about industry trends, and learning from successful companies.”
To understand where business leaders stand with digital transformation in industries around the world, the study surveyed more than 900 senior executives from technology, digital, data, product, human resources, talent attraction and learning and development roles.