Welcome to the post-digital world!
According to Gartner’s 2023 Board of Directors Survey, 89% of boards agree that we are no longer in a digital world, but rather a post-digital one. Digital transformation – though a major business driver in recent years and a key way that organisations have tried to differentiate themselves – is now considered a necessity for survival in a rapidly evolving business and technology landscape. If you snoozed on digital transformation initiatives, you’ll probably lose.
However, despite this widespread awareness of the need for digital transformation, the same survey revealed that only 19% of boards have actually made progress toward or have achieved their digital transformation goals. This is a shocking statistic given the attention and resources that have been dedicated to the area, which, according to Statista, reached approximately $1.85 trillion in 2022.
So, what is the problem? Why are so few companies actually making progress in their digital transformation journey?
The answer may lie in the fact that many organizations view digital transformation as a technology initiative rather than a business one. Digital transformation is not just about implementing new technologies, it is about transforming business processes, rethinking organizational structures, and embracing a digital culture.
The survey also found that boards believe innovative technologies to be key to digital business success. AI, machine learning, software enhancements, data, analytics – these tools can certainly help businesses succeed in the post-digital world, but the deeper, cultural changes will need to be addressed first to achieve true transformation.
Though digital transformation is no longer a differentiator, businesses can set themselves apart from the crowd through their sustainability initiatives. The Gartner survey found that 80% of boards anticipate an increase in sustainability investments in the next two years, while 75% expect the same in diversity, equity and inclusion. This presents a clear opportunity for companies to not only do good for the environment but also give themselves an advantage over their competitors. True sustainability may only be achieved when there is a business case for it.
Find out how Orbus Software can help your business to succeed in the post-digital world and achieve your sustainability goals here.