The 2023 State of Digital Transformation

In this year’s State of Digital Transformation report, we set out to identify the key differences between the businesses that are succeeding at digital transformation, and those that are still struggling. We surveyed over 600 executives from North America, Europe and Asia across a range of industries to highlight not only their current digital capabilities but the key investments and choices they made that got them to where they are today. By separating the responses of high performers and average performers, we identified key characteristics of companies that successfully met their transformation goals. 

This report serves as a benchmark for what digital maturity looks like in 2023 and charts a path forward for businesses that are looking to drive growth and thrive in the next wave of digital transformation initiatives. 

Key Takeaways:

• The majority of companies (45%) chose business growth as their top goal for digital transformation, followed by innovation (45%) and efficiency (42%). 
• Top-performing companies tracked metrics like innovation (36%) and digital literacy (32%) to measure digital transformation success, while average performers tracked business performance (42%) and efficiency (40%). 
• Limited budgets (34%) and a resistant culture (27%) were the top obstacles to digital transformation success. 
• Despite challenging economic times, 42% of digitally mature companies were accelerating their digital transformation efforts this year. 
• Top-performing companies were more likely to have their digital transformation led by the CEO (33%), compared to average performers where the CIO or CTO (36%) were more likely to be in charge. 
• The top transformation priorities for companies were upgrading technology (50%), achieving operational efficiency (34%) and getting more value from data (32%)