Digital Transformation Journey
Every organization is on — or should be on! — a digital transformation journey. The heart of this transformation journey is understanding, anticipating, and redefining internal and external customer experiences.
Point 1: Over 53% of organizations are “living on the edge” in terms of a potential serious disruption in their business model.
Point 2: 81% of organizations believe that digital transformation”>digital transformation is important OR very important to their organization.
Point 3: Only 18 months from 2020, less than 1 in 5 organizations are near where they want to be in the core transformation challenge of “understanding, anticipating, and redefining internal and external customer experiences.”
Digital Transformation Effectiveness
Digital Transformation effectiveness is imperilled by a rising tide of information chaos and confusion.
Point 4: Despite major improvements in information management capabilities over the past 10 years, organizations have only marginally kept pace with the new wave of “Big Content” challenges.
Point 5: The average number of content systems in use continues to rise; the average number of systems has grown by nearly 30% over the past 5 years.
Point 6: While most organizations continue to increase the number of content systems they use, a rising portion of critical business content (now 54%) remains OUTSIDE those content management systems.
Demand for New Information Management Practices
Point 7: In just three years, we’ve moved beyond the cloud “tipping point.” Even for organizations that were initially sceptical, for over 8 in 10 organizations, cloud capabilities are now a key part of the solution.
Point 8: For 70% of organizations, the monolithic model of the ECM era has been replaced by a desire to consume content capabilities as needed — i.e., content services.
Point 9: 92% of organizations believe that something needs to change and that they must modernize their information management strategy.
Point 10: Pricing and purchase models are changing dramatically from CAPEX to OPEX — 57% of organizations prefer subscription pricing models.
So that’s the core message of the eBook: Organizations need to transform, and a modern approach to information management needs to be at the heart of that transformation.
+ 3 Bonus Data Points
In that context, I thought I might also share three bonus data points that I did NOT include in the “State of Intelligent Information Management – Getting Ahead of the Digital Transformation Curve“. They make the point that lagging organizations are at risk of falling even further behind as the waves of digital disruption accelerate.
In the survey, we asked organizations to evaluate their overall performance relative to other organizations in their peer group or industry. 66% of the poorest performing organizations believe they face a serious disruption in their business model in the next two years – but they struggle with what to do about it.
+ 1: Organizations with lagging performance DO understand they have a problem.
+ 2: But are three times more likely to be lagging in their digital transformation”>digital transformation journey (less than 25% of where they want to be by 2020) than leading organizations.
+ 3: Unmanaged information lies at the heart of the Transformation problem facing lagging organizations
|LEADING ORGANIZATIONS||LAGGING ORGANIZATIONS|
|% saying “chaotic” or “somewhat unmanaged”|
|Office documents (Word, Excel, etc.)||31%||68%|
|Design files & IP assets||27%||61%|
What organizations are doing with content and information has outgrown the traditional definitions. We need a new framework to think about the information management practices and methodologies that are critical to digital transformation”>digital transformation and to meeting the challenge of radically redefining experiences with customers, employees, and partners. We need a new way to talk about what organizations are doing with content and information, and how they are doing it. The framework is “Intelligent Information Management.”