According to an IDC InfoBrief and a survey commissioned by Insight Enterprises (NASDAQ: NSIT), a Fortune 500 solutions integrator focused on driving customer success through digital transformation, business leaders around the world have come to realize that despite the ongoing macroeconomic pressures and an increasingly uncertain, competitive business environment will need to invest in digital transformation to meet new innovation needs.
- More than eight in 10 (82%) believe companies need to invest in digital transformation to stay ahead of the curve.
- Nearly half (49%) see the ability to keep up with technological innovation compared to their competitors as one of the top risks facing their business over the next 12 months, compared to just two in 10 (20%) inflation and citing the potential for an economic recession.
The 2023 Insight Intelligent Technology Report1an IDC InfoBrief,
was created to provide insights into how the ongoing uncertainty in the global economy and ongoing geopolitical tensions, along with other business challenges, are influencing investment in digital technologies among senior executives. The data provides insights into the opinions of 1,000 executives from companies with 1,000 or more employees around the world.
“The question I get asked most frequently by my customers is: How can I ensure that my company will still exist in a few years’ time? For years, companies have been trying to eliminate the weaknesses of legacy systems and to optimize their business through deep digitalization in order to Increase productivity, gain share in limited markets and build organizational resilience,” said Matt Jackson, global chief technology officer at Insight. “Generative AI has now increased the pressure on business leaders to prepare their companies to stay ahead of the competition in the AI race.”
The most important results of the survey:
- 52% said operational resilience is one of the top challenges companies will face over the next year, along with cybersecurity (56%).
- 34% plan to invest in digital transformation within the next 12 months to scale sales and monetization of products and services; 33% strive for greater digitization of the customer experience.
- Most companies have recognized the need to evolve into a digital enterprise. 61% said they expect a tangible return on their investment by 2024.
- Top digital transformation challenges include privacy/security concerns (53%), a lack of basic technology skills (39%), and insufficient resources for change management (39%). All of these challenges will be exacerbated as companies determine how to implement more complex technologies like generative AI.
- Almost half (49%) of digital transformation projects fail due to IT infrastructure integration issues. 46% also stated that outdated technology / legacy technology is impeding their business strategy.
- 48% of respondents indicated that their organization’s C-suite review has become more focused on digital initiatives over the past year.
“Leaders should change their understanding of ROI if they truly want to become a digital business. They need to be consciously agile, shift capital costs from CapEx to OpEx to create an environment for continuous innovation, and they need to adopt technology quickly to create a gain a competitive advantage, and if they don’t, someone else will,” said Adrian Gregory, EMEA President, Insight.
To view the full IDC InfoBrief, 2023 Insight Intelligent Technology Report: Are We in a New Era of Innovation? to read, please visit insight.com/ITReport or uk.insight.com/ITReport. For more information about Insight, visit insight.com or 800-INSIGHT.
1 IDC InfoBrief sponsored by Insight, 2023 Insight Intelligent Technology Report: Are We in a New Era of Innovation? (Doc #EUR150678623), June 2023.
Survey methodology: IDC conducted the survey from January to March 2023. The sample comprised n=1,000 survey participants. The study was aimed at senior business leaders who work in large commercial companies with more than 1,000 employees, across all industry segments. It was also aimed at senior decision-makers in public sector organizations with more than 250 employees. Quotas were set by country: n=300 participants in North America, including the US and Canada, and n=100 participants in each of the following countries: Spain, Italy, France, UK, Belgium, Netherlands, Germany, Austria and Switzerland. The margin of error for the entire sample of n=1,000 is +/-3% at a 95% confidence level.
About Insight
Insight Enterprises, Inc. is a Fortune 500 solutions integrator with nearly 13,500 employees worldwide, helping companies accelerate their digital journey, modernize their business and maximize the value of their technology. We enable secure end-to-end transformation and meet our customers’ needs through an extensive solution portfolio, far-reaching partnerships and 35 years of in-depth IT expertise. Recognized by Forbes as a “World’s Top Female-Friendly Company” and a “Great Place to Work”, we complement our solutions and services with global reach, local expertise and a world-class e-commerce experience to meet our clients’ digital ambitions at all times to realize. Learn more at insight.com. NSIT-M
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