if you’re heading up business transformation and change projects n 2022 and beyond, chances are you’re responsible for some of the most challenging yet influential projects your organisation has ever invested in. When all eyes are on you to deliver on expectations, a relevant, well-placed stat can be a valuable asset.
Here’s our quick pick of reliably-sourced transformation and change stats from the past two years.
Stats to drive momentum
- By 2024, 51% of IT budgets will be focused on digital innovation and transformation. (IDC, 2020)
- By 2025, 60% of enterprises will be deploying code to production at least once a day (compared to 3% in 2019) (IDC, 2020)
- More than 250 million new apps and services are being developed for deployment in or before 2024, meaning the same number of applications will be created in four years as the past 40 years. (IDC, 2020)
Stats for managing expectations
- While businesses are frequently undergoing big changes these days, about half of change initiatives fail, and only 34% report clear success. 16% of change initiatives report mixed results. (Gartner, 2020)
- 94% of IT and business decision makers believe digital transformation will have a positive impact on customer experience, yet only 7% say they have sufficient resources and budgets to meet implementation deadlines. (Cyara report of 1000 decision makers from companies with 1000+ employees in the US, Australia and the UK, 2021)
- IT decision-makers believe they are, on average, 4.7 months behind where they should be on digital transformation implementation, whereas business decision-makers put that estimate at 5.3 months. (Cyara report, 2021)
Stats about transformation and teams
- Businesses that focus on the cultural aspect of change are 5x more likely to attain breakthrough performance than those that overlook it. (BCG)
- Change champions play a crucial role, according to 67% of respondents who had change champions and whose projects successfully delivered quantifiable objectives (Google, 2019)
- Change initiatives which are created with involvement from employees and management have higher lasting success rates – up to 58% compared to 34% for top-down changes. (Gartner, 2020)
Stats to support adoption of change delivery software:
- 70% of companies stated that “using tech to simplify workflow and manual processes” to reduce costs is the utmost priority in the future. (Open Text, 2020)
- 80% of CEOs are speeding up efforts to digitise work processes and implement new technologies. (World Economic Forum report, Oct 2020)
- 11.4% of all resources are wasted due to inferior project management processes. (PMI, 2020)
- Companies with a connected project delivery process have greater success rates compared to those with fragmented processes. They’re more likely to meet project goals (77% vs. 56%), stay within budget (67% vs. 46%), and deliver on time (63% vs. 39%). (PMI, 2020)
If you’d like to know how Sharktower can help your teams get better outcomes from your transformation projects, get in touch today.