Digital transformations of all shapes and sizes are occurring across business and service provider landscapes.
As far as service providers and enterprises go, digital transformations can include using open APIs for faster innovation, moving services and functionalities to the cloud and implementing disruptive technologies.
While "digital transformation" has gained status as a catch-all phrase for improving business practices and strategies, it can also include a brick-and- mortar store creating an online store, a company going "paperless," and a traditional utility company developing a smart home strategy, according to a recent report by MuleSoft.
According to a survey by MuleSoft, business and IT misalignment was the biggest speed bump (45%) in creating digital transformations followed by "time constraint" (43%), "legacy infrastructure and systems (39%) and "integrating siloed apps and data" (34%). Business and IT misalignment was even more pronounced (63%) for companies with more than 100,000 employees.
In another survey on digital transformations, IFS reported that an overwhelming number of senior executives (86%) in various business sectors agreed that digital transformations were crucial to their businesses going forward, 40% didn't have a strategy in place for them. (See Survey: 40% of Businesses Aren't Ready for Digital Transformation.)