Lack of expertise is the greatest barrier in the digital transformation process of Hungarian companies

Spark Institute at IBS has just revealed the results of their Big Digital Transformation Survey made last fall, 2017. In Hungary this was the first survey conducted among corporate decision-makers that provides us an overview on how the companies are with digital strategy and disruptive technologies. Digital transformation is essential for survival, but the attitude and business plans associated with it show little gaps: half of the respondents do not have a digital strategy and only one out of five company executives feel that they are prepared for it. It is encouraging that all the respondents consider it important to use digital devices, and 91% consider it as a significant business potential. You can see the most important findings of the survey in the following infographic (infographic is in Hungarian).

Between October 2017 and January 2018, Spark Institute at IBS conducted the Big Digital Transformation Survey – both  in-depth and online questionnaire – and received responses from 117 of corporate decision-makers of Hungarian companies. The Budapest-based international leadership training institute investigated what the Hungarian C-level leaders and middle managers think about digital transformation. The aim of the survey was to provide a more subtle picture of the scale of digitization culture in the domestic corporate segment and to explore where companies are in the digital transformation process.

The survey revealed that there is no unified picture in the minds: 30-30% of company executives interpret the digital transformation as a technology-IT issue or as a novel approach. For a quarter of respondents, the concept is equal to digital culture building, and every sixth participant considers it as a methodology. To this extent, the majority expects revenue growth, or cost reductions, one third thinks that the solution for the introduction of new services or products is digitization, and the rest believes they will be able to conquer new markets.