Business modernization and delivering digital experiences have become critical for organizations globally who are seeking a competitive edge to reach the top. According to Digital Performance Global Survey 2018 by Riverbed, 98% of business decision makers agree that digital, including the delivery of digital services is very crucial for future business success.
Riverbed, the digital transformation company, surveyed 1,000 business decision makers (BDMs) worldwide at companies with $500 million or more in revenue, to understand the status of companies in their progression toward digital strategy execution.
“This survey underscores the tremendous opportunity that maximizing digital performance can have on the user experience and bottom line, while simultaneously highlighting the real challenges companies face today,” said Subbu Iyer, CMO, Riverbed Technology.
Key findings of the Digital Performance Global Survey 2018:
Digital performance optimization is key to business performance
Almost all (99%) of the BDMs said that in order to drive business performance, the optimization of digital performance is essential.
The expected benefits of the digital performance optimization included improved customer experiences and satisfaction (53%), greater market agility (49%), increased revenue and profitability (49%), increased employee productivity (49%), and faster time to market (48%).
Digital performance gap
Organizations understand that digital performance and digital strategies have a significant impact on business, however, the survey found that there is a significant digital performance gap.
80% of BDMs indicated failure of digital services and applications a few times every month, which impact the customer experience, diminishing productivity, and causing deadlines to push.
22% indicated failure of digital services and applications a few times a week or more.
Poor digital performance impacts organization’s ability to gain ground in market
Riverbed highlighted that poor digital performance impacts the ability of organizations to become a dominant player in the market.
95% respondents believed that their organizations face consequences in case the digital experience gets worse.
Top impacts of poor digital performance included loss of sales and revenue (42%), delayed product launches (41%), loss of customers (41%), loss of brand loyalty (41%), and loss of employee productivity (40%).
Budget constraints: Biggest challenge to drive successful digital strategies
The current state of digital services is not benefiting organizations as expected, and not helping them much to thrive in digital marketplace. The report states that achieving digital success is elusive for organizations.
95% of organizations face challenges in achieving successful digital strategy. The biggest challenges in driving success digital strategies for organizations included budget constraints (51%), complex legacy infrastructure (45%), and lack of visibility across digital or end-user experience (40%), and less skilled personnel (39%).
Cloud can optimize digital performance
Nearly all (99%) respondents believed that cloud technologies are important to their ongoing digital strategy, and will help them optimize digital business performance.
The same number of BDMs believe that visibility across the digital experience is crucial to its management, while 98% said that modern infrastructure can help in improving digital performance.
“The findings reinforce that forward-thinking companies are well positioned to lead their industries in the race towards digital transformation by prioritizing investments in modernizing their networks and tools to measure and manage the digital experience for their customers and employees. Those who hesitate to embrace digital strategies and processes will quickly fall by the wayside, and those who drive digital performance will see significant business outcomes.”
Download full report here.