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ISSUE III 2019

One in Five Digital Transformation Projects Fail

Concerns around the selection of the right technology and Brexit uncertainty are among the main stumbling blocks, a new survey says.

One in five businesses in the UK have not managed to deliver digital transformation projects, according to a new survey.

Lack of understanding of technologies available to support digital transformation projects is the main cause of failure, cited by 51% of firms polled by Censuswide on behalf of IT firm Econocom.

Other key reasons mentioned include selecting a platform that was not appropriate for the purpose, cited by 39% of respondents, followed by lack of skills (31%) and lack of budget (23%).

Budgeting concerns in a climate of uncertainty is another issue impacting the success of digital transformation initiatives, the research says, with 44% of respondents worried about spending too much on systems in a lump sum.

In addition, 40% of the executives polled reported concerns around making the wrong technology choice, while 38% stated Brexit is holding them back.

Separate research from Gartner, released in January 2019, predicted IT spending would be unaffected by factors such as the UK’s departure from the EU.

A desire for alternative funding models to enable digital transformation initiatives was also highlighted by the Econocom research, with 93% of IT leaders polled saying service-based models would be the ideal option—though only 17% are already doing so.

The Econocom research surveyed 150 IT and finance decision makers in companies in the retail, legal, and financial services sectors with more than 100 employees and over £1m in revenue.

 

Originally published on June 6, 2019, on www.ComputerWeekly.com
 

econocom

Econocom is Europe's largest independent provider of digital finance and associated services. Active in 19 countries across Europe, Morocco and North America, Econocom has been working closely with the legal sector for more than 20 years. Econocom has many years' expertise in the financing of large hardware and software projects such as CMS and PMS systems. By working with Econocom, our clients benefit from stable IT budgets and comprehensive management of their technology portfolio. This means they can concentrate on their core business free of the administrative and budgetary hassle of buying technology. Click here for more information.

 
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