While Canadian organizations have clued in that digital transformation can be the key for future business success, many firms still lack the requisite digital expertise to compete on a global level, according to a recent report.
According to Toronto-based research firm IDC Canada — in sponsorship with SAP Canada Inc. — a whopping 83 per cent of Canadian enterprises still require the appropriate infrastructure to make nurturing and empowering digital talent a top priority as they prepare to do battle in the digital economy. This talent includes software development teams and will need skills around big data analytics, mobile apps, IT security and design thinking.
The report reveals that while 86 per cent of executives have discussed the implications of a digital economy —and 60 per cent feeling it to have a major impact on their business within five years — only 17 per cent of Canadian firms have considered digital transformation to be a key tenet of company strategy.
A mere 26 per cent of executives surveyed cited a lack of relevant workforce skill sets as one of the top three immediate concerns for their business.
In order for the process of digital transformation to occur, notes Tony Olvet, the research firm’s group vice president, first there needs to be a common understanding of what the concept means within the business along with a shared goal to initiate change.
“It’s time for an assessment of what expertise an organization needs to enter the digital economy and thrive in it – whether that talent is nurtured in-house or brought in more effectively from outside,” said SAP Canada’s president John Graham in a statement.