Variations in Transformation Journeys
After examining the transformation journeys of organizations across different sizes and revenue brackets, every leader surveyed claimed their organization had moved past the preliminary planning stages and early conceptualization. It is clear that digital transformation is a priority, irrespective of a company's revenue or size. Companies with revenue surpassing $1 billion report their digital transformation status as either 'late' or 'building,' highlighting their substantial progress. These organizations possess the resources and talent necessary to drive ambitious transformation goals, positioning them as front- runners in the digital transformation race. Surprisingly, on the other end of the spectrum, smaller organizations with revenue under $10 million find themselves at comparable stages in their digital transformation journeys.
Small organizations might find that communication and context is easier than their larger counterparts. While larger enterprises benefit from substantial resources, smaller organizations can capitalize on their agile business models and work unencumbered by legacy tech issues or bureaucratic bottlenecks. This agility enables them to adeptly respond to change, adopt innovative approaches, and, ultimately, characterize their digital transformation journeys in the same way as legacy organizations. A significant cluster of mid-sized organizations, ranging from $10 million to $999 million in revenue, classify their transformation phase as 'building' - indicating they may still be in the throes of growing pains or haven’t quite figured out the right level of process to execute on their digital transformation journey effectively. They may have the challenge of lacking relatively deep pockets of big players, but being too large for the entry-level tooling that small organizations can use effectively.
CIO INSIGHTS REPORT
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