We joined 15 senior IT executives from leading Financial Services organizations at an exclusive dinner arranged by the Chief Wine Officer.
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Bored with Reading about Digital Transformation?
Digital Transformation seems to be one of those phrases that’s been around for a long time and no one really pays any attention to it anymore. If you’re of this mindset, think again and read this blog!
The global digital transformation market is growing at over 18% and, according to MarketWatch, could be worth $462b by 2024. Yet half of U.S. executives polled said their company isn’t successfully executing against their digital transformation strategies and, unbelievably, one in five said, “it was a waste of time.” So, while we may be under the perception that digital transformation is “old hat,” from this poll it seems to be growing at a rapid rate. There are many technical and cultural challenges to overcome in order to drive the right digital outcomes, and many projects are failing to be executed successfully. Arguably some of the most important hurdles are linked to IT Operations. But it doesn’t have to be like this.
IT leaders are under so much pressure - they have to support the business demands for continuous innovation while delivering services faster, cheaper and often with fewer staff. Couple this with the growing complexity within IT, it’s no wonder some digital transformation projects fail. Building a house, you start with the foundation - same for IT - you need to get the basics right. For IT the basics start with having visibility into your entire IT ecosystem. Without visibility into performance of the systems, early stage problems can be missed and they end up snowballing into major incidents. We’ve all seen the high-profile IT outages reported in the media, unfortunately these seem to occur on a regular basis. Gartner estimates the cost of an outage, depending on the size of the organization, can be anywhere from $5600 per minute to as much as $540,000 per hour. Not only do you have the financial loss but there’s brand reputation damage too. Consumers are not loyal and will happily jump ship to your competitor if they face any issues online.
Read the full report to take your steps towards unified IT monitoring.
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The results of this survey have been analyzed and the key findings are detailed in this comprehensive report.