As other countries rapidly and seamlessly advance in their digital transformation journey, US enterprises will need to quickly ramp up their efforts to maintain a competitive advantage according to a new report from alliantgroup.
Managing to stay competitive in today’s uncertain IT landscape has become difficult for enterprises worldwide. In fact, as per a recent alliantgroup report “Innovation, R&D & IT Hiring Trends”, C-suite executives are taking steps to advance their digital transformation efforts but are still struggling to ramp up quickly and maintain a competitive advantage.
The online study conducted in collaboration with the neutral third-party research firm, YouGov, revealed not only the views of C-suite regarding digital transformation projects but also where IT consultants can find opportunities to partner with such organizations along their transformation journeys.
As per Dhaval Jadav, Chief Executive Officer, alliantgroup, “With the US lagging on innovation, many C-suite executives are now kicking digital transformation efforts into overdrive. Companies are poised to invest millions in digital transformation over the next 2-3 years, implementing cloud, AI, and Big Data technologies while bolstering their technical talent to make these rapid changes happen.”
Let’s take a look at some of the key findings from the alliantgroup report:
Enterprises cannot neglect investment in innovation and R&D projects
As the US finds itself out of the top 10 most innovative countries in Bloomberg’s 2021 Innovation Index, C-suite executives learned that they can no longer ignore investments in innovation and R&D Projects. In fact, as per a survey by alliantgroup, 29% C-suite executives stated the US is unable to embrace digital transformation like other countries and thus lagging behind at a global scale. 20% of them stated that the US is not embracing new technologies with as much intensity as other countries.
With the pandemic as well as fragmented supply chains making things worse, enterprises will require the expertise of IT consultants to bolster their digital transformation initiatives to catch up on a global scale.
Taking steps to cut through the red tape
Nearly half (46%) of C-suite executives understood that aggressively pursuing digital transformation projects will enable them to survive in the long-term. Yet, the internal bureaucracies are hampering their efforts. In fact, 29% of them stated that organizations capacity for digital transformation is taking a toll due to endless bureaucracy. Therefore, organizations should take the help of IT consultants to side-step these internal challenges.
Prioritizing recruitment of the required skills
As per the report, 42% of the C-suite executives said access to more talent is their top priority as the nation faces historic worker shortage. 31% admitted that not recruiting the right talent was one of the biggest mistakes they have made when undertaking a digital transformation project. According to Dhaval Jadav, “From my conversations with business leaders across industries, however, I’m hearing them talk about persisting challenges like a lack of tech talent, not finding the right technology and consulting partners, and even internal hurdles or resistance as major roadblocks to their digital transformation plans.”
“Companies need good talent to spur innovation, so they should look for it everywhere, expanding beyond the usual tech hubs. They also should look into finding the right third-party technology partners who have been successful at moving these initiatives along for clients. I’d also suggest companies take a focused approach, concentrating on areas in which digitization would create the biggest impact for their business,” added Dhaval Jadav.