Comtrade survey finds digital transformation spend at €455K in next year

Business, Technology | Thu 21 Sep | Author – Business & Finance
Dejan Cusic
Dejan Ćušić, Business Director, Ireland & UK, Comtrade Digital Services

Comtrade survey finds the average Irish business will spend €455,000 on digital transformation projects in the next year.

The independent survey took 133 Irish IT decision-makers and found 62% of businesses that have started their digital transformation have seen profits increase.

More and more companies are taking up digital means of doing business as the current paradigm becomes more tech based, all the way from cloud computing to developing their own online applications and platforms. Comtrade‘s research discovered that 44% of businesses list increasing revenues as a top-three goal when immersed in new digital transformation.

The top aims for digital transformation according to IT leaders in the survey are improved business processes (68%), better customer satisfaction and user experience (65%) and better employee productivity (47%). The survey also found that Irish businesses are struggling to incorporate a technology-first environment. 89% sees a lack of in-house and digital skill sets hindering progress.

The top barriers to digital transformation include financial limitations (56%), company culture (49%) and securing proper management and board-level support (41%), while 50% believe their companies aren’t doing enough to take on digital transformation.

Ireland & UK Comtrade Digital Services’ Business Director, Dejan Ćušić, said: “Digital transformation helps businesses to improve the agility of their organisation, allowing them to quickly and effectively roll out new digital products that focus on the user experience. In doing so, businesses gain competitive prowess and can carve out significant new revenue streams.

“At Comtrade Digital Services, we work with organisations on their digital transformation journeys to help them innovate faster. In Ireland, many of these companies have committed millions of euro each year to their digital transformation projects and we expect the average spend amongst Irish businesses will increase in the coming years.

“As more and more businesses adopt a technology-first approach, those that have held back will be left behind. The time for investment in digital transformation is now. That means not only investing in new technologies, but also having the right people and processes in place to make digital transformation a success. Companies that act now will find themselves reaping the rewards for years to follow.”

Comtrade is hosting Quest for Quality on 4 and 5 October where discussions will take place on software testing in the platform economy.