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Digital Transformation: Redefining Legacy Business Landscapes
Global spending on corporate Digital Transformation (DX) is expected to surpass $2 billion by 2019, according to IDC. The greatest portion of this spend will be on operating model innovations.
David Terrar, CEO of D2C, define digital transformation as “the process of shifting your organisation from a legacy approach to new ways of working and thinking using digital, social, mobile and emerging technologies. It involves a change in leadership, different thinking, the encouragement of innovation and new business models, incorporating digitisation of assets and an increased use of technology to improve the experience of your organisation’s employees, customers, suppliers, partners and stakeholders.”
Robert Parker, Group Vice President at IDC, said that “digital transformation is not just a technology trend, it is at the center of business strategies across all industry segments and markets. Enabled by the 3rd Platform, digital transformation represents a critical opportunity for companies to redefine their customers’ experience, achieve new levels of enterprise productivity, and create competitive advantage. Enterprise investments in digital transformation will constitute the majority of growth in technology markets over the next five years, making it a priority for technology vendors as well.”
Eileen Smith, Program Director, Customer Insights and Analysis, said that “digital transformation has altered, and will continue to alter, the landscapes of business, education, and government, making this one of the fastest growing areas of technology spending. Organizations must apply these technology-enabled changes to unleash productivity gains and significant competitive advantage across their organizations.”
Thanks for the mention and using my definition of digital transformation! However, Business Wire got the IDC numbers wrong. Actually their projected spend for the topic is 2.1 Trillion Dollars (not Billion).
See: http://www.idc.com/getdoc.jsp?containerId=prUS40978116