IFS has revealed the findings of a survey of nearly 500 senior decision-makers from companies ranging across industrial manufacturing, construction, retail, oil and gas, automotive, energy and utilities, and other industries. 86 percent of the respondents think that digital transformation will play a key role in their market, but 40 percent lack a strategy for it.
Unclear Internal Responsibilities for Digital Transformation
When asked who within the company has responsibility for driving digital transformation the respondents call out the CIO (40 percent of the respondents), CEO (39 percent), and the CFO (35 percent), while the CTO (20 percent) and the CMO (6 percent) are not considered as influential in this area.
When the C-suite leaders answer who owns digital transformation, they often point at themselves. 53 percent of the CEOs consider they are responsible. The corresponding numbers for CFOs and CIOs are 69 percent and 63 percent respectively.
High Priority but No Clear Strategy
86 percent of the respondents say digital transformation will play a key role in their market in the coming five years and 76 percent answered that they need more information about digital transformation.
However, many companies have not come as far when it comes to implementing strategies: 40 percent of the respondents answered they don´t have a clear strategy for digital transformation.
Technologies Driving Digital Transformation
When asked to rate several disruptive technologies on how important they are in driving digital transformation in the respondents’ industries, the following ratings were given:
(Scale: 1-100. 1=Unimportant, 100= Very important).
- Internet of Things: 59
- Cloud computing: 59
- Cognitive computing: 55
- Machine learning: 53
- Wearable technology: 48
- 3D printing: 42
- Drone technology: 39
The survey reveals a number of regional differences regarding the view of internal responsibilities:
- The Polish respondents believe the CIO (57 percent of the respondents) is the one driving digital transformation, while only 41 percent think it is the CEO
- In the U.S., the CFO is believed to drive digital transformation (42 percent), only 30 percent think it is the CEO who is responsible, the lowest CEO score out of all the regions
- 57 percent of the Brazilian respondents call out the CTO as the one responsible for digital transformation, this is the highest number for CTOs out of all the regions
- The Scandinavian respondents trust the CIO to be the one responsible for digital transformation, (45 percent), followed by the CEO (38 percent)
- The Asian respondents are the most uncertain, where 29 percent answer that they don´t know who within the organization owns digital transformation
“This survey shows that senior leaders of large industries have realized the potential that digital transformation offers, but in many cases haven´t got a strategy in place to leverage it yet. It appears there is also a great uncertainty regarding who is actually responsible for driving the digital transformation agenda within companies. Companies must clarify their goals and outline clear strategies in order to utilize the full potential of digital transformation,” said Mark Boulton, CMO at IFS.