Despite CEOs and strategists working around the clock to realign their businesses to embrace digitalisation, a new global study from Arthur D. Little (ADL) reveals that the majority of corporations still underestimate the risks of failing to keep pace with a rapidly digitising economy, and feel ill-equipped to make a holistic digital transformation.
In The 2015 Digital Transformation Study, ADL found that although front-runners have emerged, most companies still take a piecemeal approach to digital transformation.
Companies struggle to fully embrace digitalisation because of lagging adoption in their business models and, from an HR perspective, new data-based personalised services and overall digital capabilities.
Only 17% of surveyed companies have comprehensive roadmaps in place to master the digital transformation.
"As customers across the world embrace the new marketplace of shared ownership, on-demand services, and personalisation, no industry is immune to the growing need for digital transformation," said Dr. Michael Opitz, initiator of the study and leader of ADL's TIME Practice.
"We fear that today too few CEOs recognise the urgent need to not just invest in new technology, but fully realign every aspect of their businesses to the new digitally driven marketplace."