Boomi, a Dell Technologies business, announced a new global survey, commissioned with Vanson Bourne that reveals although organizations are reaping the rewards of IT modernization, digital transformation and innovation, there’s still more work to do. Now more than ever, technology supports and drives every business, from banks to retailers, whether customer-facing or internally focused. Companies that find ways to maximize their budget when investing in digital strategies and technologies have the opportunity to improve their ROI – read about how one company improved by more than 1,000%.
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The report, “The State of Modernization, Transformation, and Innovation in the Digital Age,” outlines that 59 percent of survey respondents said effectively using technology has been the key to transformational success. However, 1 in 2 decision-makers admit their company isn’t innovating at a competitive rate. Organizations still face multiple challenges to more quickly and efficiently roll out their modernization, innovation and transformation programs.
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The top barriers for digital transformation and innovation efforts include insufficient in-house skills (41%) followed by a restrictive budget (33%).
“The next decade will undergo an even more rapid pace of change than the 2000s and 2010s,” said Chris Port, Chief Operating Officer for Boomi. “Though modernization, transformation, and innovation have paid dividends in recent years, organizations can’t afford to rest on their laurels. Especially now. Not when business priorities, drivers of change, and technology needs are rapidly converging, as reflected in this survey.”
