Even as digital has become the buzzword across industries and digital transformation is making it to the top of enterprise agenda, the lack of strong transformational leadership is becoming the top barrier to success, according to a report by global technology and services provider NTT.
Only 11% of enterprises surveyed are highly satisfied with those in-charge of digital transformation despite the fact that almost 75% of enterprises are already implementing digital strategies, NTT’s 2019 Digital Means Business report said.
Only 49% of respondents in the survey believe that their leadership team has the right skills to manage the execution of the digital transformation.
“Organizations are still grappling with how to shape their business to capitalise on a connected future. For various reasons, an organization is its own worst enemy, so any change has to be supported by pragmatic, self-aware leadership who are themselves changing,” said Wayne Speechly, vice president of advanced competencies, NTT.
The introduction of a chief digital officer function has helped enterprises streamline digital processes with about 42% of respondents saying business and IT are delivering in a more integrated manner. Only 12% are highly satisfied that planning is flowing effectively through to execution.
NTT surveyed over 1,150 executives from 15 countries across North America, Europe, Middle East & Africa and the Asia Pacific belonging to 11 industry verticals.
About 29% of enterprises have accepted digital transformation as a collaborative effort between business and IT.
“Digital creates the opportunity for value to be constantly derived from transformation initiatives across the business. Organisations should focus less on perfecting a grand digital plan, and more on taking considered and iterative steps in their transformation journey,” Speechly said.