UK firms are unable to scale digital transformation plans to the fullest

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February 21, 2022, 3:57 PM GMT+0

Neo Networks surveyed 247 medium-to-large UK organisations and data, cloud and network infrastructure service providers.

The study found that four in five UK firms cannot scale plans to their fullest potential with current connectivity arrangements. In contrast, only 20% of businesses said they are in a position to undertake digital transformation plans.

These numbers indicate that UK businesses struggle to maintain growth due to a lack of investments in core IT connectivity systems. 98% of companies said digital transformation is important for their future strategy.

81% of companies saw a “highly successful” digital transformation success rate when they devoted up to 20% or more of the digital transformation budget to connectivity or networking. In contrast, for companies allocating 10% or less of their budget to connectivity or networking, the success rate dropped to 19%, and the number of unsuccessful initiatives rose to 62%.

As a result, companies are expected to increase their investments in connectivity systems. Moneypenny CTO Pete Hanlon said, “I believe we will see an unprecedented level of investment in digital transformation over the next few years as more and more companies adopt a similar digital-first approach.”

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