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Skill-Gaps And Budget Limitations Restricts Transformation Investments!

06/12/2020

Boomi’s new global research revealed that although organisations are reaping the rewards of IT modernisation, digital transformation and innovation, their efforts are being inhibited by various challenges, including restrictive budgets and lack of in-house skills.

According to “The State of Modernisation, Transformation, and Innovation in the Digital Age” report, 59 per cent of survey respondents reported that effectively using technology has been the key to transformational success. However, one in two decision makers admit their company is not innovating at a competitive rate. The top barriers for digital transformation and innovation efforts include insufficient in-house skills (41 per cent) followed by a restrictive budget (33 per cent).

Based on the survey of 1,200 business and IT decision-makers around the world, it has been found that despite their progress in modernising, 95 per cent of organisations are facing challenges. As business and technology leaders continue to institute technology-driven change, many are seeing initiatives fall behind due to internal skills gaps and challenging budgets, among other roadblocks.

Despite these outcomes, new and unexpected complexities introduced by the ‘new normal’ of work have placed further emphasis on the importance of continued modernisation, transformation and innovation. With this new research showing dividends in customer experience (CX) and streamlined operations, it is imperative business and IT decision makers turn their attention to connecting their digital assets to further reduce cost and accelerate time to value for internal and external stakeholders.

Though modernisation, transformation, and innovation have paid dividends in recent years, organisations cannot afford to rest on their laurels. Employees play a major role in business and drive every business process and interaction.

Therefore, Investing in your workforce today by improving their training, workflow, and resources with technology will position your company as the one to beat. It takes the right kind of culture and the right people to continuously out-change and get ahead of the competition.

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