Digital transformation projects continue to make progress, but Turkish businesses have spent an average of $4,21 million on projects that have failed, overdue or are shrinking in scope.
SANTA CLARA, California – Leader of modern databases designed for enterprise applications Couchbase Inc. (NASDAQ: BASE) today announced the results of its fifth study examining the digital transformation performance of businesses. A worldwide survey of 650 IT leaders* shows that Turkish businesses have maintained their momentum despite the challenges of the past two years. 88 percent of the businesses participating in the study say that they have made remarkable, transformative and even revolutionary improvements in the end user experience through the digital transformation they have carried out in the last year. Moreover, they remain optimistic about the future: Turkish businesses plan to increase their investments in digital transformation by 12 percent in the next 78 months.
But these businesses need to raise awareness of the challenges posed by digital transformation. Turkish businesses spent an average of $4,21 million last year on failed, overdue or narrowed digital transformation projects. Due to factors such as access to the needed data (32%), lack of resources (26 percent) and relying on old technologies that cannot meet new digital requirements (24 percent), 84 percent of these enterprises have not been able to realize their desired digital transformation projects.
The results of failed or delayed projects point to more than just wasted funds. 47 percent of Turkish businesses struggling with problems in digital transformation projects had to postpone their strategic goals for three months or longer or completely reset them. Other responses from survey respondents include losing IT workers (54 percent) and employees in other business areas (40 percent) to more innovative competitors, as well as being unable to keep up with market dynamics (50 percent) and having trouble going public or securing corporate finances. 30 percent) have.
Matt Cain, CEO of Couchbase, says, “It's easy to see the enthusiasm of corporations for their digital transformation in the past year, and it has the potential for a bright future.” Otherwise, the investments of the vast majority of 78 percent who allocate money to digital transformation will be wasted.”
At the end of 2019, 100 percent of Turkish businesses participating in the study have implemented unrealistic practices in digital transformation: replacing old technologies and processes (58 percent), creating new business offers (56 percent), changing business operations (46 percent).
- 100 percent of Turkish businesses say they have learned lessons from the pandemic: Continuously research and invest in digital transformation (76 percent), modernize applications (60 percent), and hire better developer teams (56 percent).
- The way they work has changed: 90 percent of Turkish businesses participating in the study say they have made fundamental changes in their digital transformation goals in the past two years. While 98 percent have accelerated their application modernization strategies, 94 percent have changed their budget for digital transformation. On the other hand, 98 percent of Turkish respondents say that the digital transformation projects in the last two years have left permanent changes in the way they work.
- End users in the center: 92% of Turkish businesses state that they focus on user behavior rather than creating new business opportunities in their digital transformation projects.
“We are in an exciting time for the IT industry. Organizations are taking a proactive approach to digital transformation with external factors such as the pandemic environment or the development of their competitors, and this is a sign that we have reached the peak of creativity in the context of business ideas," said Matt Cain, CEO of Couchbase. possible with the inclusion of the floor. Digital transformation should not be limited to strategic goals only. In a transformative business entity, not only the IT department should be taken care of, but also the responsibility of all senior executives. If these businesses can implement the lessons learned from the past two years, the future is very bright.”
*Online survey conducted by independent market research firm Vanson Bourne between February and April 2022, in organizations with more than 50 employees in the US, UK, France, Germany, Spain, Italy, Israel and Turkey (650 respondents from Turkey). It was done with XNUMX executives such as CIO, CDO and CTOs responsible for digital transformation.
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