For organizations in housing, a digital transformation plan can mean a number of things, yet is a critical part of tomorrow's success. Here, Information Age shares the obstacles to making it happen in an effective way and advice to avoid those challenges.
Half of companies are failing to execute on their digital transformation strategies, according to a study of 500 senior executives.
The research, by Wipro Digital, found that while 91% of executives are aligned on what digital transformation means, only 4% realise half of their digital investment in under one year.
The majority of respondents said it has taken their company two to three years to see at least half of these investments come to fruition.
Rajan Kohli, global head of Wipro Digital, said a ‘leadership issue’ has left companies short of achieving their intended ROI of digital transformation projects.
“Real digital transformation occurs when courageous leaders align goals in practice as well as theory, manage opportunity more than risk, and prioritise the future versus retrofit the present.”
Wipro Digital highlighted five ways in which it research identified leadership issues as a key factor in the widespread stall in digital transformation efforts.
1. Companies are aligned on what digital transformation means in theory, but not in practice