Newgen Software, a global provider of low code digital transformation platform, released its 2022 State of Digital Transformation Research, which shows 100% of surveyed enterprises are now engaged in digital transformation (DX), with most (77%) starting their journey within the past two years. Most are at an early stage, with a fourth (24%) at the discussion stage and half (49%) currently transforming.
According to the research, enterprises are engaged in DX to achieve growth, gain competitive advantage, and provide a better customer experience. But DX is not easy. The top three challenges cited by survey respondents include lack of management support, cyber security concerns, and lack of in-house digital transformation experience.
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“Newgen has consistently seen its customers embrace digital transformation over the past several years,” said Virender Jeet, CEO, Newgen Software. “The research illustrates that most enterprises are in the thick of it. It’s a complex process, and only a quarter have completed their transformation. With our NewgenONE platform, we are well-positioned to capitalize on this huge market opportunity,” Jeet added.
Key Findings
- Most enterprises (68%) are transforming front-end processes (i.e., those processes that face the customer). Sixty-one percent are transforming back-end. And just 38% are transforming both (end-to-end).
- Enterprises are more focused on transforming complex parts of their business than simple ones. 50% see transforming simple business processes as important, while nearly all (93%) cite transforming complex business processes as important. It is the same with complex business information (91% versus 57%) and complex customer engagement (92% versus 6%).
- Enterprises that are the most successful in their DX efforts are more than seven times as likely to be digitally transforming end-to-end (80% versus 11%).
- Top-tier enterprises use a rich set of tools for DX. The tools they use vary depending on whether the business application is simple or complex with regards to the business process, business information, and style of customer engagement.
Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen’s industry-recognized low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and for many more use cases across industries. Newgen unlocks simple with speed and agility.