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Why do Digital Transformation projects fail or just not get started?

17 October 2019

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Around 20pct of large businesses in the UK have not managed to deliver their scheduled and budgeted digital transformation projects, according to a recent survey*.

The main reasons why some 70 pct. of digital transformation projects fail:-

  • Lack of understanding of technologies available
  • Incorrect vendor and/or platform choice
  • Budget holder concerns around making the wrong technology/vendor choice due to lack of knowledge

Digital transformation; a significant challenge for Enterprise CFO’s

CFO’s clearly understand that there is a need to change digitally and that Enterprise digital transformation is often about transforming the customer experience and meeting the clients evolving expectation.

Any digital transformation has to be customer centric but CFO’s and their finance teams don't have the necessary skills to choose the right technology or don't understand how technology can be deployed in a way that makes value of the investment tangible.

In short, very few businesses have finance teams have the skill set to support the digital ambitions of their Board.

THE ANSWER: get EXPERT ADVICE; specific to the project, business and industry.

*by Censuswide on behalf of IT firm Econocom

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