In this thought-leadership paper, we delve into the significance of an elevated employee experience and its direct impact on customer satisfaction
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Gain insights about the latest trends and best practices in leveraging modernized techniques to accelerate your transformation initiatives.
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Discover how modern approaches to application delivery, integration, and testing are empowering organizations to achieve digital excellence.
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Learn how to capitalize on modern technologies for a seamless EX that places CX at the center.
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Explore the common hurdles and roadblocks faced by organizations on their digital transformation journeys.
Key Takeaways
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Of retail companies have lost between $1M and $50M due to unsuccessful digital transformation efforts.
Digital Transformation Failures
80%
Key Findings
6.40%
Organizational Silos with conflicting priorities
6.40%
7.30%
Change Resistance
Lack of technology skills or knowledge
10.90%
11.80%
The business and IT Leaders identified and ranked the top 5 challenges that contributed to poor execution of the digital transformation initiatives.
Lack of funding/budget
Employees availability of time devoted to digital transformation
Increasing our use of DevOps methodologies
36.70%
Moving applications to the cloud/deploying SaaS
36.70%
Training employees and executives to improve digital skills
48%
On the contrary, the survey also identified the top 3 areas in which retail organizations were largely successful in their efforts to transform their organizations digitally.
Top 5 challenges your organization faces in modern application development
Retailers prioritize DX and Robust Infra over AI
Surprisingly, the highest allocation, with 46.40% of the investment, is dedicated to Digital Experience. This suggests a significant emphasis on enhancing user experiences, optimizing digital interfaces, and improving overall engagement with customers and stakeholders.
Similar to Digital Experience, Technology Infrastructure & Operations also command 46.40% of the investment. This category covers the foundational elements of IT, indicating a strong commitment to maintaining and improving the organization's technological backbone.
A strong focus on fortifying the organization's digital assets, protecting against cyber threats, and managing associated risks and commitment to leveraging advanced technologies for automation, data analysis, and intelligent decision-making within the organization. This diversified investment strategy underscores a holistic approach to technology adoption and adaptation within the organization.
Collaborate with a strategic vendor while building your modern enterprise.
As your organization confronts challenges, the objective is to evolve into an adaptive entity capable of responding swiftly to the rapid changes in the age of the customer. Although many firms can attract creative talent, only a select few can establish the ideal environment, structures, and incentives for that talent to flourish flexibly. Forge a close partnership with a strategic ally who can guide your organization in approaching change management for people and skills in an unconventional manner, aligning with the modernization practices you aim to accomplish.
Top 5 application development areas do you expect your organization to work with a service provider over the next 12 months.
The digital transformation landscape in retail institutions highlights the pivotal role of strategic planning and collaborative endeavors. However, the persistent presence of organizational silos and a deficit in collaboration poses hurdles to seamless progress. Furthermore, advocating collaboration with strategic vendors sheds light on the indispensable nature of external partnerships in navigating the intricacies of modern enterprise building. The research suggests a complex landscape where retail organizations are grappling with challenges in digital transformation but are strategically investing in key areas like MAD, DX, and technology infrastructure to drive successful modernization and achieve their collective goal of becoming digital businesses.
Quinnox unlocks the hidden potential of your business across your digital value chain and helps you to accelerate success.
Quinnox commissioned Forrester Consulting to conduct a custom study to explore the evolution of digital transformation and the effectiveness of aligning their modernization efforts to business outcomes, especially in the areas of integration, testing, and modern application delivery capabilities. Forrester conducted an online survey with 546 businesses and IT decision-makers at organizations in the US and UK.
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Digital Transformation as a collaborative goal
A correlation emerges when examining the data points related to business priorities, IT priorities, enterprise architecture (EA), and delivery priorities. The overarching goal to "Transform our organization to become a digital business" resonates through all three pillars – business, IT, and EA and delivery priorities. Strengthening IT infrastructure, increasing IT operating model performance, and powering the business with platforms and partners collectively contribute to the organization's digital transformation journey.
Navigating the correlation, however, is not a straightforward endeavor. Aligning the priorities of diverse groups within retail organizations requires significant effort, akin to moving a mountain. This underscores the importance of addressing organizational silos and fostering collaboration as pivotal elements in achieving successful digital transformation.
Transforming Retail:
Strategic Modernization for Future-Ready Digital Experiences
Moderating madness in embracing MAD
The adoption of Modern Application Development (MAD) services is widely recognized as a pivotal step in the successful modernization of legacy systems. Leaders acknowledge the significant outcomes MAD can deliver, including heightened business efficiency and agility, improved employee and customer experiences, increased productivity, and substantial revenue growth. It is crucial to note that the landscape is evolving, and organizations are now placing a stronger emphasis on employee experience, a trend echoed in various research studies.
Nonetheless, leaders are cognizant of the fact that integrating MAD into existing systems is no simple feat and demands strategic navigation. This transformative process introduces a range of challenges, such as organizational silos and a lack of collaboration among development teams. By prioritizing open dialogue and inclusivity, organizations can unlock the full potential of MAD, ensuring a smoother transition and maximizing the benefits it brings to the forefront of modernized systems.