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Study: Organizations must accelerate their digital transformation

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Study: Organizations must accelerate their digital transformation

Technology evolving from an enabler to a driver of business change.

Global market trends are converging to accelerate the speed at which commercial and government organizations need to move from experimenting with discrete customer-facing digital projects to implementing enterprise-wide digital transformation. This is the overall finding of the CGI Global 1000, an annual outlook conducted by information technology and business process services firm CGI through in-person conversations with business and technology leaders in 10 industries and 20 countries.

"We have not seen such clarity of market dynamics since Y2K."

"In this year's CGI Global 1000, we saw tremendous alignment around organizations' need to implement more expansive digital transformation by modernizing and connecting their legacy systems to a digital business and operating model," said CGI President and Chief Executive Officer Michael E. Roach. "We have not seen such clarity of market dynamics since Y2K, which was a system-centric, point-in-time event that did not create competitive business value. Today, there is a need to create sustainable business model change that will help organizations better run, change and grow over the next decade."

In the CGI Global 1000, organizations identified five key trends that are intensifying their need to transform:

  1. Over 70% of leaders cite the rising influence of consumers' digital behaviors. Customers expect personalized and seamless digital experiences across channels, with banking, retail and consumer services, and communications leaders citing a digital-only trend.
  2. Security is starting to become a differentiator for 62% of organizations. Organizations' cybersecurity programs are maturing from reactive and compliance-based to proactive and focused on integrating security into part of the value proposition.
  3. Half of organizations across industries feel the burden of relentless regulatory demands. This perennial trend continues to accelerate, with leaders focused on material business impacts of privacy and data protection laws.
  4. One-third of executives note structural change of their business models is needed. For the first time, leaders said they must transform the way their organizations are structured to serve their stakeholders and spur growth.
  5. Nearly 30% of organizations are experiencing the emergence of IT as a driver of business change. Technology's role is shifting from being an enabler to a driver for achieving new business and operating models. Over 70% of leaders said they plan to increase or maintain their IT budgets to accelerate digital transformation.

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