This below content is part of Avant’s 2021 State of Disruption Report, originally posted here: https://ta.goavant.net/home.
Businesses live or die by their ability to meet constantly evolving conditions. Those that stay ahead of change — that anticipate it, evolve with it, and even help facilitate it — experience lasting success. In short: Transform or die.
Digital transformation maps to increased reliance on information technology as a means of solving real-world business problems, and as a means of building a competitive advantage.
We’ve now reached a point where companies in most verticals have developed their plan for digital transformation, even in circumstances where they might not be fully deployed. Among the highlights, Consulting/Business Services, Healthcare/Medical, Retail/eCommerce, and Financial Services are the most likely to have a plan for digital transformation. This is largely about the need for efficiency and accuracy, and sometimes the sheer volumes of data generated within these vertical markets. When viewed by company size, respondents from smaller organizations tended to be the ones that still need to build a plan.
The below figure shows the percentage of survey respondents whose companies have a defined digital transformation plan in place as opposed to the companies that do not.
The following shows the same comparison by end customer revenue band, as opposed to vertical market. Note the correlation between company size and the likelihood of having a defined digital transformation plan in place.
The Role of the Trusted Advisor
Nearly two thirds of the respondents report working with Trusted Advisors in support of their IT decision-making process. Half the time, the Trusted Advisors assist with selecting and operationalizing new technologies, though the ultimate go/no-go decision is made internally by company IT teams.
As technologies continue to grow more complex, especially in terms of integration with other products and services, the role of the Trusted Advisor is likely to increase over time. At Parallel, we fill the role of Trusted Advisor to countless organizations. Contact firstname.lastname@example.org to learn more, or download the full 2021 State of Disruption report.