Whitepaper
Five dimensions of successful digital transformation
What leaders need to understand to enable success
July 13, 2023
Boards and senior executives know that technology needs to be a significant part of the DNA of their organizations in order to remain successful in the future. A 2022 survey from Gartner noted that almost 90% of board directors say that digital initiatives are embedded in their growth strategies [1]; yet the same survey showed that only 35% think their organization is on track to achieving successful digital transformation.
One of the keys to a successful digital transformation journey is a smooth transition from legacy business models to a technology-first strategy. From a generational perspective, there is still a significant lack of technology-first thinkers in board seats and senior executive positions in many organizations (especially organizations that aren’t technology companies).
As a result, digital transformation concepts can seem so abstract and unfamiliar to boards and senior leaders that they may end up depending on a too-narrow set of credible voices on digital transformation within their organization.
As worldwide IT spending is projected to total $4.5 trillion in 2023 [2], an increase of 2.4% from 2022, organizations are continuing to propel towards digital transformation. And with so many technologies, applications and services available, it's difficult to decide which path will provide the most value to an organization.
As these initiatives take both significant time and investment, board members and senior executives need to ensure they’re fluent in the following five dimensions of digital transformation to provide strong governance over these efforts and ensure their success.
Simplifying the language and concepts of digital transformation can help board members and senior executives better guide their organizations through the digital transformation journey. Digital transformation can be simplified into the following five critical business dimensions: