This article (From Oxford Economics and SAP) has a great data sample of 3,171 but only 3% of companies have actually digitally transformed. Imagine that. Digital has been around for what 10 years now.
But with a prize of 23% higher revenue, increased profitability and increased market share, you wonder why more have not? In fact, you would have thought this was an CEO issue? All the C-Suite all wanting and needing to give answers how their project is going? In fact the shareholders by now must be demanding that CEOs be social and take control and transform a business to social?
That all sounds easy and you are probably asking "and what do I do in the afternoon?". ;)
Well IT is a small and simple part of the project, with Cloud the cost has reduced so you can get lots of IT for less than you were paying those legacy suppliers.
But social transformation is more than that.
You need a social culture, you need to take into account social processes and you need people who understand the new way of working.
At this point that all sounds very hard. It is. You probably want somebody to help you. Outside help. But a word of warning. You might want to seek help from people who have actually transformed themselves. There are lots of "big well known" companies that talk a good story and sell transformation services, but have not actually transformed themselves.
They actually said to us "we don't need to transform and in fact our management don't understand digital transformation. Why? Because our partners know the CEOs and they won't go anywhere else".
Can you imagine getting a company in that does not know how to transform to help you transform?
My advice is you do your due diligence!
Sounds like a recipe for disaster to me, but there again the choice is yours!
In collaboration with Oxford Economics, we recently surveyed 3,171 senior executives around the world on the topic of digital transformation, and found that only 3% of the respondents had digitally transformed their entire enterprise as opposed to the 97% who were mostly in planning or pilot stages. The SAP Digital Transformation Executive study showed that while most everyone surveyed recognized the importance of digital transformation, only this small group had actually transformed to embody a corporate-wide digital mindset. Some of the staggering findings resulting of this mindset were tangible advantages such as 23% higher revenue, increased profitability expectations for 80% of the leaders (versus 53% for everybody else), and increased market share expectations for 85% of leaders versus 39% for everybody else.