Signposting the narrow path leading to a thriving digital enterprise
While the money spent on digital transformation has been rising steadily for the past few years, large companies that have embarked on the journey captured only 31 per cent of the expected revenue lift and 25 per cent of expected cost savings.
These figures and the oft-quoted failure rates of digital transformation projects exceeding 90 per cent are naturally seen by the majority of companies as a turn-off from becoming early adopters of state-of-the-art digital technologies.
The pandemic, however, showed how companies with higher risk appetite can reap the benefits of being leaders of the pack in terms of digital investment.
Companies that had already invested in unified communications prior to Covid had a much smoother shift to remote work and didn’t have to waste their resources on makeshift solutions only to scrap them post-pandemic to clear the way for more strategic deployments.
Wasting money on rash or patchy digital transformation projects and investing in technology for technology’s sake is not the only risk.
The opportunity risk, as the stellar rise of digitally enabled companies during the pandemic demonstrated, should also be factored into decisions about digital investments. So should technology debt – the implied cost of not fixing problems that, like time bombs, are bound to explode at some point.
To find the narrow path between futile investments in digital technology and becoming a dinosaur, there is a long list of questions that a business needs to find its own specific answers to.
How does the ideal IT stack for my business operation look? How do I make product-driven technological investment decisions? Who will help me cut through the AI noise? How can I enable real-time intelligence across all my business functions? Who can guarantee that my workplace toolset is intuitive, connected enough and utilised to its full advantage? How can I fight off cyber-attacks that may target my ecosystem?
The Digital Transformation and Unified Communication Expo (DTX+UCX) Europe 2023 – titled Preparing for the New Realm: Balancing Risk With Reward – will provide businesses with a two-day opportunity to meet representatives from leading brands, technological experts and creative minds to get relevant answers to these questions.
Participants can visit technology demos and exhibitions to gain some first-hand experience of the best digital solutions and platforms currently on offer. But this premier event is not only about technology, as it will also cover all aspects of digital transformation from data management to cloud computing to the human aspects of cybersecurity.
Participants can attend interactive panels and fireside chats to exchange ideas and connect with their industry peers. Keynote speakers will include digital pioneers, such as Martha Lane-Fox, President of the British Chamber of Commerce, who co-founded lastminute.com, and Kelsey Hightower, Principal Engineer for Google Cloud. What they have in common with other keynote speakers – for example, Hannah Fry, Professor in the Mathematics of Cities at the UCL Centre for Advanced Spatial Analysis or Dara Ó Briain, an Irish comedian and TV presenter – is that they have already proven that their storytelling power can make hard-to-grasp concepts accessible and fun, including the workings of the internet, Kubernetes, the mathematics of love and astronomy. Another speaker is Jenny Radcliffe, world-renowned social engineer, whose expert knowledge and vibrant personality have been a hit with TEISS Talk audiences and whose book, People Hacker, was published this year.
To resolve C-suite dilemmas and concerns about your digital transformation journey, visit DTX+UCX Europe 2023 on 4-5 October 2023 at ExCel London. Learn more about the speakers
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