Digital Transformation Trends

Digital Transformation Trends

Digital Transformation Trends

11/09/2018

What is Digital Transformation?

Evolving technology, increasing consumer expectations, start-ups with new business models. Digital Transformation is an organisation's response to keeping pace with an ever-changing environment. It’s the vehicle that moves organisations forward using technology and automation to do more with less, simultaneously reducing cost and increasing business efficiency. The industry defines Digital Transformation as:

The application of digital technologies to improve efficiency, enhance customer value, manage risk, and uncover new monetisation opportunities.

Digital Transformation Trends

So how ready are UK organisations to embark on this digital journey? Explore the current state of UK Digital Transformation by watching our latest trends video.

Transforming the future

UK businesses differ in what Digital Transformation means to them. A trends analysis, where business leaders were given nine definitions and asked to list the top three that resonated with them, revealed:

  • 52% think the term means enabling worker productivity
  • 46% think it means improving customer experience through technology
  • 27% believe it is to be digitally modifying business processes.

Definitions may differ, but trends in future spending don't. By 2021, IDC forecasts that globally, Digital Transformation spending will hit $2.1 trillion, and over 25% of UK business leaders expect it to be a key part of their organisation within 3-5 years. In 2018, 63% of UK businesses have a relevant strategy - up from 27% in 2017.

Digital Transformation Trends: the challenges

The appetite may be high and the desire may be there, but key business leaders are still facing various challenges that are restricting strategies from becoming a reality.

Legacy systems don't always need to be replaced, yet 35% of business leaders identify the replacement of legacy systems as their biggest hurdle. If you're working on Digital Transformation, consider partners who can evaluate your current systems before scoping a large software change project. Legacy systems are expensive to change and it may be that new technologies can bolt on to those existing systems.

Trends indicate that these are the top four main challenges that business leaders are currently facing:

Digital Transformation trends - challenges

Trends for a new way of working

Organisations now realise to stay competitive they need to understand the needs and wants of customers and employees. This then allows a meaningful evaluation of internal processes and workflows to ensure there’s a match. Evolving customer and employee behaviours was cited as the main driver in Digital Transformation by 65% of respondents in an Altimeter 2017 survey.

A study of business trends shows that by 2020, customer experience (CX) will overtake price as the key brand differentiator, so it's no surprise to hear organisations place the enhancement of CX and employee experience (EX) as the key benefit from their digital plans.

Other benefits business leaders cite include increases in productivity (68%) and becoming more customer focused (62%).

Automating customer and employee communications

Your outbound communications are often the face of your organisation and are therefore key areas to consider first for Digital Transformation. Our Aceni applications bolt on to existing corporate systems to help you drive through a digital document strategy and can be implemented without capital expenditure, license fees or  lengthy change projects.

Explore the Aceni suite to support your Digital Transformation journey.

Sources used within this article and video

  • Accenture: New rules for culture change, 2016
  • IDG: State of Digital Business Transformation, 2018
  • International Data Corporation: Worldwide Semiannual Digital Transformation Spending Guide, 2017
  • ITProPortal: Digital transformation success relies on customer experience, 2018
  • Marketing Week: Transparency, digital transformation, luxury purchases: 5 killer stats to start your week, 2018
  • PWC: A marketplace without boundaries? 2015
  • Sana: Digital Transformation and B2B e-commerce report, 2017-18

Related news

Robotic Process Automation

Why it’s time to embrace Robotic Process Automation (RPA)

Robotic Process Automation (RPA) is just one of the technologies influencing the 4th industrial revolution. Learn what it is, what it isn't, and the six most rewarding business benefits of RPA.
Read More
ERP software communication

Your ERP software is not a communications powerhouse

Communications and technology have advanced significantly in recent years that your document output from your ERP software needs to match up.
Read More

Stay in the know