Digital Transformation Success Requires an API-Centric Approach: IDC Report Findings

IDC report Findings: Digital Transformation Success Requires an API-Centric Approach, and digitalML is the answer
  • Embedded digital transformation into their organizational structure
  • Digital transformation (DX)funding from their capital budget
  • Enterprise-wide integrated digital platform

Digital transformation is worth the investment: digital leaders see increased revenue and operating profit

IDC’s research shows publicly traded companies that are digitally determined and have realized digital transformation maturity have grown their revenues by 92.9% and operating profits by 97.1% on average, from 2013 to 2018. In contrast, digitally distraught organizations have seen their revenues and operating profits contract, on average, by 3.3% and 1.1% respectively.

Digital transformation success depends on 3 central qualities

What’s also interesting is that there’s three central qualities that digitally determined organizations share:

1. Comprehensive digital strategy: 37% of enterprise organizations have a cohesive digital strategy spanning the entire business.

A company’s digital transformation approach goes beyond the current financial year with a multiyear commitment; there is also an emphasis on change management and integrated and continuous enterprise wide DX innovation. Additionally, there is a longer-term investment plan, and the enterprise strategy is to use DX to transform markets and customers by creating new business models and product/service experiences.

2. Enterprise implementation plan or roadmap: 55% of digitally determined organizations have this roadmap versus 20% of digitally distraught organizations.

Business transformation is aligned with a set of comprehensive digital transformation technology investments that organize, align, and prioritize the sequence of integrated technology and business transformation.

3. Integrated digital platforms: 66% of digitally determined organizations are investing in solutions versus only 20% of digitally distraught organizations.

Continue Reading to find out the last central quality and what kind of platform will help you on your journey of digital transformation here.

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Large enterprises use our ignite Platform for digital recombination, APIs & Services at scale, Rapid IT Modernization, and Business & IT alignment