On June 23rd, myself, along with our head of research, will be guests of IT Business Edge during a webcast unveiling the results from the first annual Business Transformation Survey. Just two months ago more than 250 professionals responded to 11 questions and what we have learned has been enlightening.
As a quick preview to the webcast event, I want to share four key takeaways derived from the new research:
- Business transformation is a priority. When participants identified the types of projects they are currently evaluating, they were six times more likely to indicate their business transformation projects are a high priority than not a priority at all.
- Individual contributors and executives are not connected as to the priority, impact and execution of business transformation initiatives. The closer one is to strategy and company roadmap, the more enthusiastic of project impact, organizational capabilities, and of their business transformation partner vendors.Conversely, individual contributors, who are closer to the pain the initiative is designed to alleviate, are more likely to focus on stakeholder input and features; are most concerned over project profitability; and are generally more pessimistic about outsourcing and quantity of projects the company can undertake.
- Profit focus influences how business transformation projects are prioritized. Nearly all respondents expressed that business transformation projects are driven by cost-reduction objectives. This is counter to the most traditional understanding of business transformation, which is to essentially increase the use or visibility of technology to shape business strategy.
- Vendor relationship is an indicator of organizational maturity. Third-party resources are leveraged by two-thirds of respondents. Those that do not leverage external partners illustrate characteristics of companies with less organizational maturity; the needs of which are linked to specific market-share battles rather than more wholly transformative operational reconfigurations. Organizations seeking third-party vendors are more likely to be looking for support on inward-facing projects. While organizations that already have a resource dedicated to specific business transformation initiatives expect to execute with the greatest precision in their ability to contribute to the strategic plan.
To learn more about the State of Business Transformation, register for the June 23 webcast here. All registrants will receive an early copy of the report and a link to the presentation recording.