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Only half of global enterprises have a formal strategy for digital transformation and face increasing disruption as a result, according to CenturyLink study conducted by 451 ResearchMONROE, La., May 23, 2017 /CNW/ -- CenturyLink, Inc. (NYSE: CTL) today announced the results of a commissioned study on the digital transformation of global enterprises. Conducted by 451 Research, the Enterprise Digital Transformation Study provides insight into how, why and at what pace organizations are preparing for the digital future. Among the findings:
The findings will be highlighted during a webinar titled, "Turn Disruption into Differentiation," scheduled for 1 p.m. Eastern on May 24. To attend, click here. The survey – which polled executives in North America, Europe and Asia Pacific – found that disruption will continue to ramp up over the next three years, with 42 percent of study respondents expecting major disruption as the deployment of new digital technologies continues to play out in their respective fields. This will continue to change the competitive dynamics of their markets in the process. "In a global economy that's dominated by disruption, innovation and cyber threats, speed to market is of the essence," said Bill Hurley, chief marketing officer for CenturyLink. "However, the complexities associated with digital transformation can result in numerous roadblocks. Moving to a superior network and employing agile cloud technologies are keys to simplifying the transformation process. This approach is a foundational element of success in digital transformation." "Digital transformation programs are now being viewed as strategic, long-term initiatives and typically receive the support of top-level executives," said Sheryl Kingstone, director of customer experience & commerce at 451 Research, who authored the survey. "In fact, 60 percent of enterprises are increasing their IT spending levels to achieve the significant benefits of digital transformation." The Four Pillars of Digital Transfrmation
Additionally, the majority of enterprises realize full digital transformation will take time to implement, as more than 40 percent of respondents estimate this will take three to five years. The ability of an organization to be innovative with new digital technologies such as these seems to have a direct correlation with digital transformation maturity. When asked to rate their organization's ability to innovate, 59 percent of those with a formal digital transformation strategy already in place rated their organization as more capable and faster to innovate, with 18 percent feeling their organization was slow to innovate. Barriers to a Successful Transformation
Other significant barriers recognized by respondents were potential failure to secure sensitive data (30 percent); lack of available funding, capital or budget (30 percent); and challenges of getting multiple service providers/partners working together (27 percent). The Growing Importance of Cloud Choosing the Right Partner IT services and telecommunications service providers, in particular, are strongly preferred as partners, enabling and accelerating digital transformation programs for 52 percent of companies with a formal strategy. To Download the Study About CenturyLink About 451 Research
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/only-half-of-global-enterprises-have-a-formal-strategy-for-digital-transformation-and-face-increasing-disruption-as-a-result-according-to-centurylink-study-conducted-by-451-research-300462020.html SOURCE CenturyLink, Inc. |