Global Business Process Management (BPM) company WNS on Thursday announced the formal launch of its 'Business Transformation After the Digital Tipping Point' survey report with market research firm Corinium Global Intelligence.
The survey was conducted in April and May to understand how global enterprises are tackling business innovation and transformation as they adapt to an emerging digital-only world.
The respondents included over 100 digital transformation leaders across organisations in North America, Europe, and Australia, gauging their priorities, challenges, and progress in their digital business transformation journey. The findings were then combined with comments from 10 industry experts to put their insights into context and convey the state of global digital transformation projects in 2021.
The respondents stated the COVID-19 pandemic both expanded and accelerated digital transformation initiatives, including optimisation and automation of both client-facing and back-office business processes, and the migration of data, applications and services to the cloud.
“90 per cent of enterprises that didn’t accelerate their digital transformations in response to the pandemic have lost business as a result,” said Keshav R Murugesh, Group CEO, WNS.
“Clearly, advancing the digital agenda is ‘the’ priority in the new normal, with a focus on building AI and analytics-powered tools, capabilities and business models. WNS is a key strategic partner for organisations looking to drive true business transformation by deploying unique digitally led strategies, models, accelerators and critical skills,” he added.
The survey found that 100 per cent of respondents plan to adopt a remote or partially remote working model permanently, while 97 per cent have begun delivering their digital transformation strategies.
Over 52 per cent cite CX optimisation as a ‘high priority’ strategic objective for the next 12 months. Further, 90 per cent of enterprises that didn’t accelerate their digital transformations in response to COVID-19 lost business as a result.
Around 76 per cent said that lack of executive support for cybersecurity improvements is creating challenges for their digital transformation projects, while 1 per cent said their organisations have automated processes in place to streamline their data governance practices.
The study also showed how levels of digital adoption vary across industry verticals. While 28 per cent of leaders stated that digital is now part of their company’s DNA, 30 per cent are still in the process of scaling up successful digital transformation pilots.
Moreover, enterprises are increasingly focusing on AI, data-driven approaches and analytics, and social media intelligence to fuel their digital transformations, specifically to optimise customer experience.
However, the survey also found that many enterprises still lack strong data governance and cybersecurity foundations required to take advantage of leading-edge digital technologies.
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