A recent report from NTT Ltd. showed that most organizations have undergone major transformations so as to strengthen resilience, increase agility and deliver greater efficiencies.
Indeed, the report showcased that, in the UK and Ireland, 90.0% of business and IT leaders declared that the pandemic has caused significant changes to their operating processes, while 89.0% say it has accelerated their digital transformation strategy.
Thus, the pandemic gave businesses the opportunity to rethink their technology strategies and how it aligns to the business. 92.4% of technology teams globally have stated that their overall technology strategy is aligned, either fully or partially to the organization’s business strategy needs. Besides, it also sped up services and solutions, making IT teams more responsive to organizational demands.
Yet, the study noticed there is still a disconnect in terms of priorities between the business and IT. Indeed, while 69.9% of operations teams think it is crucial to have a technology strategy to drive business efficiency opportunities is crucial, only 48.0% of IT teams agree. Moreover, although 69.6% of operations teams globally consider speed and agility a key component of technology strategy, in contrast to only 53.4% of IT teams.
Furthermore, the study also highlighted differences in approach as some organizations consider cost optimization a way of creating greater resilience, others are solely focused on being bold and brave. Indeed, they see the pandemic as a unique chance to take advantage of market opportunities and to scale.
Finally, the report noted that embracing new technologies and the ability to automate and deploy innovation at speed are becoming key strategies for the success of businesses. Yet, while in the UK and Ireland, 87% of business and IT leaders believe that emerging technology is crucial for their technology strategy, only 40% believe they have the technology available to meet the organization’s goals.
Hence, businesses must find a way to balance their present needs all the while investing in technology and process modernization to have the opportunity to scale and evolve. Organizations that manage to do that are 50% more likely to optimize their digital transformation efforts.