Skills Gap And Restrictive Budgets Inhibiting Transformation Investments: Boomi And Vanson Bourne – Scoop.co.nz

Sydney, Australia – June 9, 2020 –
Boomi™, a Dell Technologies™ business, today
announced new global research that reveals although
organisations are reaping the rewards of IT modernisation,
digital transformation and innovation, their efforts are
being inhibited by various challenges, including restrictive
budgets and lack of in-house skills.

The report, The
State of Modernisation, Transformation, and Innovation in
the Digital Age
, commissioned with Vanson Bourne,
outlines that 59 per cent of survey respondents said
effectively using technology has been the key to
transformational success. However, one in two decision
makers admit their company isn’t innovating at a
competitive rate. The top barriers for digital
transformation and innovation efforts include insufficient
in-house skills (41 per cent) followed by a restrictive
budget (33 per cent).

The survey of 1,200 business and
IT decision-makers around the world, including Australia and
New Zealand (A/NZ), also found that despite their progress
in modernising, 95 per cent of organisations are facing
challenges. As well as budget and technical knowledge, chief
concerns span business processes and risk to the
business.

“As business and technology leaders
continue to institute technology-driven change, many are
seeing initiatives fall behind due to internal skills gaps
and challenging budgets, among other roadblocks.” said
Nicholas Lambrou, Managing Director A/NZ at
Boomi.

“Despite outcomes to-date, new and unexpected
complexities introduced by the ‘new normal’ of work have
placed further emphasis on the importance of continued
modernisation, transformation and innovation. With this new
research showing dividends in customer experience (CX) and
streamlined operations, it is imperative business and IT
decision makers turn their attention to connecting their
digital assets to further reduce cost and accelerate time to
value for internal and external stakeholders.”

The
report of 1,200 business and IT decision-makers around the
world, including Australia and New Zealand, also
revealed:

  • Businesses are turning to
    ‘low-code’ to drive transformation initiatives
    :
    Companies are trying to do more with employees who have less
    technical expertise. That’s why investing in low code
    platforms is a big focus for more than half of enterprises
    that don’t have one already. Almost half anticipate they
    will introduce a low-code development platform before the
    end of 2020.
  • Companies are honing in on
    customer experience and employee productivity
    :
    Today’s transformation efforts are focused primarily on
    customer experience (54 per cent) and employee productivity
    (50 per cent). Both of these areas are crucial for
    supporting more modern, agile customers and workforces.
    Business and IT decision makers agree the biggest benefit
    they have seen from modernisation is improved customer
    experience (49 per cent).
  • The CEO currently
    drives innovation among C-suite, but within three years
    innovation will be a company-wide responsibility
    :
    Organisations still need to modernise, transform and
    innovate, and it will take a company-wide shift to make that
    happen. Currently, innovation is led from top-down by the
    CEO (65 per cent), CIO (58 per cent), and department heads
    (54 per cent), while only 12 per cent said the workforce as
    a whole is leading it. However, 56 per cent of respondents
    anticipate that innovation will be everyone’s
    responsibility in three years, and not just that of the
    leadership.

Additional data
revealed:

  • 39 per cent agree that their
    organisation is regularly “out-changed” by its
    competitors and industry peers.
  • IT decision makers
    see more benefits to modernisation overall than business
    decision makers, especially when it comes to streamlining
    processes (48 per cent).
  • The top-two modernisation
    priorities for executives are IT enterprise architecture (61
    per cent) and cloud adoption (56 per cent), both geared
    towards improving customer experience (CX).
  • Top
    technology investments for innovations include: big data
    analytics (41 per cent), artificial intelligent (AI, 37 per
    cent), security innovation (36 per cent), Internet of Things
    (IoT, 33 per cent) and integration platfrom-as-a-service
    (iPaaS, 32 per cent).
  • 59 per cent of organisations
    agree they have to get technology “right” over the next
    12 months to ensure continued success.
  • 86 per cent
    say that technology will dramatically change the way their
    organisations operate over the next 10
    years.

Technology supports and drives every
business, from banks to retailers, whether customer-facing
or internally focused. Companies that find ways to maximise
their budget when investing in digital strategies and
technologies have the opportunity to improve their
ROI.

“Though modernisation, transformation, and
innovation have paid dividends in recent years,
organisations can’t afford to rest on their laurels,”
said Chris Port, Chief Operating Officer at Boomi. “Not
when business priorities, drivers of change, and technology
needs are rapidly converging, as reflected in this
survey.

“Employees drive every business process and
interaction. Investing in your workforce today by improving
their training, workflow, and resources with technology will
position your company as the one to beat. It takes the right
kind of culture and the right people to continuously
out-change and get ahead of the
competition.”

Methodology

Boomi partnered
with Vanson Bourne to survey more than 1,200 IT decision
makers and business decision makers from 19 countries across
North America, EMEA, and Asia-Pacific (including Australia
and New Zealand). Respondents represented eight key sectors
and companies ranging from 500 to more than 3,000
employees.

© Scoop Media

 

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