Businesses increase digital transformation during pandemic: Page 2 of 2

July 02, 2020 //By Jean-Pierre Joosting
Businesses increase digital transformation during pandemic
A global study from IFS finds that the macro-economic disruption caused by COVID-19 has failed to dampen digital transformation plans, with 52 percent of companies stating they will increase their spending on digital transformation.

Despite a widespread willingness to invest, the study reveals digital transformation execution as a fraught area for many decision-makers. The ability to deliver a measurable return on technology investment quickly, and to the satisfaction of internal stakeholders, is the number one concern for nearly two thirds of decision-makers (64 percent).

Antony Bourne added, "The study confirms that many companies are wisely using the global downturn to divert resources to technological renewal and innovation. As the majority of businesses are adapting to the anticipated economic recovery, and not permanently scrapping digital transformation initiatives, there is reason to believe that companies with a progressive mindset toward technology investment will be well equipped to rebound. While enterprise software will doubtlessly play a role in accelerating recovery, it is important to remember its vital role in helping companies here and now. Providing the necessary process transparency and analytics to ensure effective and informed decision-making is critical in these trying times. Nothing less than a considered and resolute attitude toward adopting digital transformation will help companies thrive, now and in the future."

A complimentary copy of the report is available here.

The study is based on responses from 3,032 executives in the UK, the US, Australia, France, Germany, and the Nordics. Respondents represent a broad industry scope, including manufacturing, construction, healthcare, IT/Telco, energy and utilities, and travel and transport. Data was collected between April 8-May 5, 2020, by Censuswide.

www.ifs.com


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