12 Digital Transformation Stats Every Company Should Know in 2021

Raise your hand if you’re sick of the phrase, “unprecedented times”. Us too.

It may be an irritating cliche, but it’s also accurate. The ripples of COVID-19 will be felt for generations, leaving every company to figure out how to prepare for an uncertain future.

For many, these preparations involve scrambling to embrace digital integration.

Before COVID, businesses commonly took a leisurely, phased approach to digital — ensuring every ‘t’ was crossed and ‘i’ dotted. But times have changed.

Most companies spent 2020 patching the dam with whatever they could find. And in 2021, they’ll need to replace the duct tape and chewing gum with scalable digital strategies.

To help you design a digital transformation strategy that allows you to create unique customer experiences, solve problems creatively, and collect quality data, we’ve compiled a list of stats you need to know during these...unprecedented times.

Companies move 2X faster on digital transformation when there is a shared understanding — among senior leaders, strategists and the organization as a whole — of the digital path ahead. (Gartner)

Getting company-wide buy-in is key to fast implementation and adoption. When internal stakeholders don’t understand the reason for, value of, or strategy behind your initiative, it’s hard to motivate them to participate. Talk to people. Treat them as collaborators. If your team feels like they have agency, they’ll do their best work.

More than 1/3 of CIOs anticipate difficulty finding talent with skills in cybersecurity, artificial intelligence, and data analytics. (IDG)

This year, expect most of your IT job posts to stay up longer, going largely unnoticed. Digital is expanding, and it’s hard to compete with the big tech firms for talent. The good news is you don’t have to. More companies are turning to technology partners to create solutions at scale without having to worry about filling or budgeting for internal positions.

76% of executives agree that organizations need to dramatically reengineer the experiences that bring technology and people together in a more human-centric manner. (Accenture)

Managers who focus solely on adopting the latest technology or increasing their bottom line tend to lose focus of the most vital aspect of successful digital transformations — their people. How does your technology bring value to your customers and employees? Start there.

87% of senior business leaders say digitalization is a company priority, but only 40 percent of organizations have brought digital initiatives to scale. (Gartner)

Few businesses bring their digital initiatives to scale and even fewer are able to call those finished projects a success. However, employing a few simple tactics can prevent you from becoming a statistic. According to research from the Harvard Business Review, there are 6 things all successful digital transformations have in common, including focusing equally on core initiatives and diversification, motivating from the top down, and experimenting with frontier technologies.

72% of strategists say their company’s digital efforts are missing revenue expectations. (Gartner)

The reluctance some executives have historically shown toward digital transformation initiatives comes from the hefty price tag attached. But that price is an investment in your growth. Your project plan should include how your new digital tools will counterbalance the cost and how long it will take to break even.

While 52% of companies plan to cut or defer investments because of COVID-19, just 9% will make those cuts in digital transformation. (PwC)

Digital is no longer the edge you have on your competition — it’s the life preserver keeping your head above water. Most executives realize that even when spending must be cut, it cannot be cut on digital transformation.

80% of businesses expect IT budgets to grow or stay steady over the next 12 months (SWZD)

As stated above, IT is not the place to cut your budget in 2021. But, the way you spend money on IT may need to change. Internal resources are high-cost and hard to scale. Your budget can go further by supplementing existing internal talent with outsourced experts.

64% of businesses enabled a remote workforce in 2020 and more than half of all companies plan to retain flexible work policies even after the pandemic ends — which will necessitate additional technology investment. (SWZD)

If your company implemented a patch solution to quickly pivot to remote work in 2020, you are not alone. In 2021, finding more robust and comprehensive solutions to the new work landscape will be key in maintaining and improving operational efficiency.

 At least 90% of new enterprise apps will insert AI technology into their processes and products by 2025. (IDC)

Along with IoT (internet of things), AI (artificial intelligence) is one of the fastest-growing technologies in 2021. If you’re unsure where to invest your money, researching these technologies is a good starting point.

 87% of companies think digital will disrupt their industry, but only 44% are prepared for potential digital disruption. (Deloitte)

Understandably, most companies are internally focused right now — just trying to catch up let alone get ahead. But it’s important not to lose sight of the competitors in your industry and how they’re responding to changing pressures. Rather than simply thinking about what could work in this moment, keep your eyes on the horizon and be sure to consider the greater trends as you design your transformation.

Less than 30% of the organizations’ technology vendors are currently active partners in their digital transformation initiatives. (Futurum)

Finding a trusted partner with the skills to create and implement the digital tools you need to meet demand can help protect the investment you make in transforming your business.

70% of customer interactions will involve emerging technologies such as machine learning applications, chatbots, and mobile messaging by 2022. (Gartner)

Your ability to compete is directly determined by your ability to meet customer expectations. And most customers these days — whether consumers or other businesses — expect companies to offer tech solutions to improve how they gather information or purchase products.

Looking for a digital partner with the skills to transform your business? We can help! Get in touch, tell us your story, and we’ll help you determine your next steps.

Jenn Consitt