‘Wide Gap Between Digital Strategy and Execution at Global Level’, Finds Study
70% of organizations surveyed have a Digital Transformation strategy, but only 10% have a full deployment plan
Noida, India; London, UK and Sunnyvale, CA – 9th November 2017 – HCL Technologies (HCL), a leading global IT services company, today released the findings of an independent–research study of senior business and technology decision–makers regarding digital transformation at large global enterprises. The global CXO survey highlights a wide gap between strategy and execution with organizations’ digital transformation initiatives. These findings come at a time when digital transformation has emerged as a defining strategy for modern global enterprises.
The survey found that while the majority 70% of organizations surveyed have a formalized digital transformation strategy in place, just a fraction 10% have thought through all aspects up to full deployment planning. It is therefore no surprise that just a quarter of participating organizations have been able to reap the benefits of digital transformation.
“Enterprises are moving away from sporadic strategy and POCs to more comprehensive digital execution. One of the biggest findings of this survey was the gap between the strategy and execution as well as measurable outcomes,” said Anand Birje, CVP and Head – Digital and Analytics practice, HCL Technologies. “The positive findings are that the effective use of digital is possible with a combination of digital seed technologies, visibility into systems and process, and real-time data insight. The companies that use these elements will be ahead in realizing the innovative processes these technologies can deliver.”
The research goes on to highlight some of the factors that demonstrate the growing gap between digital transformation strategy and execution. Key findings include digital strategies covering only part of the enterprise and a staggering 89% claiming that a lack of visibility into existing processes is hampering digital projects. The report also delves into the findings and recommendations around:
- Balancing technology investments between digital platforms, like the cloud and building block technologies, such as APIs and Microservices
- Prioritizing, organizing and utilizing data-based insights for digital transformation
- Using digital goals to measure digital outcomes
- Integrating digital ecosystems for effective digital–ready architectures
Commissioned by HCL Technologies and conducted by independent technology market research company Vanson Bourne, in collaboration with Straight Talk, HCL’s multi–channel thought leadership platform for C–level Technology executives, the survey was completed by 340 IT and business leaders from global enterprises with 3,000+ employees and more than $2bn in revenue. Countries covered included the US, the UK, Germany, the Nordics, Australia, New Zealand, and Singapore.
About HCL Technologies
HCL Technologies (HCL) is a leading global IT services company that helps global enterprises re–imagine and transform their businesses through Digital technology transformation. HCL operates out of 32 countries and has consolidated revenues of US$ 7.4 billion, for 12 Months ended 30th September, 2017. HCL focuses on providing an integrated portfolio of services underlined by its Mode 1–2–3 growth strategy. Mode 1 encompasses the core services in the areas of Applications, Infrastructure, BPO and Engineering & R&D services, leveraging DRYiCETM Autonomics to transform clients' business and IT landscape, making them 'lean' and 'agile'. Mode 2 focuses on experience–centric and outcome–oriented integrated offerings of Digital & Analytics, IoT WoRKS™, Cloud Native Services and Cybersecurity & GRC services to drive business outcomes and enable enterprise digitalization. Mode 3 strategy is ecosystem–driven, creating innovative IP–partnerships to build products and platforms business.
HCL leverages its global network of integrated co-innovation labs and global delivery capabilities to provide holistic multi–service delivery in key industry verticals including Financial Services, Manufacturing, Telecommunications, Media, Publishing, Entertainment, Retail & CPG, Life Sciences & Healthcare, Oil & Gas, Energy & Utilities, Travel, Transportation & Logistics and Government. With 119,040 professionals from diverse nationalities, HCL focuses on creating real value for customers by taking 'Relationships Beyond the Contract'. For more information, please visit www.hcltech.com
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes’,’ strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, business process outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the Management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
For details contact