Inability to Fully Utilize Digital Tools Cost Enterprises Nearly $100 Million Last Year, WalkMe Research Finds
67% of enterprises are under 'incredible pressure' to accelerate digital transformation, but 60% say change management programs are 'no longer fit for purpose'
SAN FRANCISCO, Aug. 10, 2022 /PRNewswire/ -- WalkMe Ltd. (NASDAQ: WKME), a leading provider of digital adoption solutions, today released "The State of Digital Adoption 2022-2023" report, showing enterprises' struggle to give employees the ability to use digital tools as they are intended and to their fullest extent.1 It found a lack of uptake of digital technology means enterprises over-spend by more than $32 million in order to reach their strategic goals. In addition, 67% of organizations are under "incredible pressure" to accelerate digital transformation. Yet, they cannot guarantee that employees will fully use the technology at their disposal and so maximize its value.
Sixty percent of enterprises say that change management programs are "no longer fit for purpose," while 70% could not identify exactly who is responsible for managing the adoption of new technologies in their organization. Enterprises plan to spend more than $30 million addressing these challenges in the next three years. The right approach could greatly reduce almost $100 million in costs caused by organizations' inability to fully realize the value of their technology investments.
"Technology is the lifeblood of organizations, with most saying it's more important than a head office. Yet by failing to make full use of the resources at their disposal, enterprises are constantly subjecting themselves to needless losses," said Ofir Bloch, Vice President of Strategic Positioning, WalkMe. "Whether it's projects failing to meet expectations, an inability to maximize the value of application investments, falling behind on strategic goals, compensating for employees' lack of digital dexterity, or employee churn caused by frustrations with technology, the costs all add up. Every enterprise has the potential to take full control of their digital investments, but they need the right approach in order to do so."
Additional findings from the report include:
Counting the cost of a lack of uptake
A lack of uptake costs the average enterprise with 10,000+ employees more than $96 million, including:
Technology is at the heart of the employee experience
Enterprises recognize that technology is key to satisfied employees:
Maximizing adoption of digital technologies is a clear priority for businesses:
"With enterprises planning to invest more than $30 million to increase the use of digital technologies over the next three years, the right approach will have a major impact," continued Bloch. "We can see that there's the potential to save tens of millions in costs and to free up employees' time so that they are happier and more productive. If enterprises can strategize effectively, coordinate with external partners, and most importantly, understand what and where they need to coordinate their efforts in order to increase adoption, they will be able to maximize the value of the $4.4 billion invested in IT every year."
Download the full "The State of Digital Adoption 2022-2023" report here.
WalkMe's cloud-based Digital Adoption Platform enables organizations to measure, drive and act to ultimately accelerate their digital transformations and better realize the value of their software investments. Our code-free platform leverages our proprietary technology to provide visibility to an organization's Chief Information Officer and business leaders, while improving user experience, productivity and efficiency for employees and customers. Alongside walkthroughs and third-party integration capabilities, our platform can be customized to fit an organization's needs.
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1 Survey of 1,475 senior business leaders at enterprises across North America, Europe, Australia and New Zealand
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