Editorial & Advertiser disclosure

Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home > Business > PROGRESS SURVEY FINDS BUSINESSES HAVE UNDER TWO YEARS TO MAKE DIGITAL INROADS BEFORE SUFFERING FINANCIAL AND COMPETITIVE LOSSES

PROGRESS SURVEY FINDS BUSINESSES HAVE UNDER TWO YEARS TO MAKE DIGITAL INROADS BEFORE SUFFERING FINANCIAL AND COMPETITIVE LOSSES

Published by Gbaf News

Posted on May 16, 2016

5 min read

Last updated: January 22, 2026

PROGRESS SURVEY FINDS BUSINESSES HAVE UNDER TWO YEARS TO MAKE DIGITAL INROADS BEFORE SUFFERING FINANCIAL AND COMPETITIVE LOSSES - Business news and analysis from Global Banking & Finance Review

More than 700 decision makers surveyed on the current state of digital business– results indicate significant digital denial

Progress (NASDAQ: PRGS) today announced the results of its recent global survey, “Are Businesses Really Digitally Transforming or Living in Digital Denial”. Businesses today are faced with pressures to optimise customer experience and improve business outcomes across all channels, connecting the dots between people, information and systems. The survey, conducted in Q1 2016 by Loudhouse, the specialist research division of Octopus Group, aimed to better understand how business leaders view digital transformation and learn their plans to address its challenges.

Survey respondents included a mix of more than 700 geographically dispersed C-Level/VP decision makers; heads of marketing, digital and IT; as well as developers, IT architects, directors, engineers and line of business managers. These individuals represent organisations ranging from SMBs through large global enterprises.

While most businesses recognise the inherent benefits of “going digital,” the majority of respondents are hitting roadblocks—lack of internal alignment, lack of adequate skills and plenty of cultural resistance. Coupled with technology constraints and an overall inability to execute, the result is a growing state of anxiety about embarking on digital transformation, with some fearing it may already be too late.

Key findings from the survey concluded:

96% of organisations see digital transformation as important or critical, yet 62% say their organisation is in denial about the need to transform digitally
86% say they have two years to make inroads before suffering financial or competitive consequences (55% say a year or less); 59% are worried they may already be too late
In the UK, the key advocates for digital change are CEO’s at 52%, compared to just 36% of CMO’s
72% feel IT is more likely to be the final decision maker/budget holder for digital initiatives; 78% say better alignment of IT and marketing is needed to deliver on digital transformation efforts
70% of UK respondents consider a reliance on the IT team as being the biggest barrier to delivering compelling customer experience

“Digital technologies are radically transforming business as we know it today and the driving force of change is based on the customer experience. Yet, many organisations continue to resist change. There needs to be a rapid awakening and acceptance that organisations must digitally transform to survive—and do it now,” said Mark Troester, Vice President, Digital Solutions, Progress. “This survey brings to light the reality of today’s digital transformation challenges, helping to educate and equip businesses with the information they need to succeed. Broad ‘digital’ concern has been palpable, but now we have data to prove it.”

More than 700 decision makers surveyed on the current state of digital business– results indicate significant digital denial

Progress (NASDAQ: PRGS) today announced the results of its recent global survey, “Are Businesses Really Digitally Transforming or Living in Digital Denial”. Businesses today are faced with pressures to optimise customer experience and improve business outcomes across all channels, connecting the dots between people, information and systems. The survey, conducted in Q1 2016 by Loudhouse, the specialist research division of Octopus Group, aimed to better understand how business leaders view digital transformation and learn their plans to address its challenges.

Survey respondents included a mix of more than 700 geographically dispersed C-Level/VP decision makers; heads of marketing, digital and IT; as well as developers, IT architects, directors, engineers and line of business managers. These individuals represent organisations ranging from SMBs through large global enterprises.

While most businesses recognise the inherent benefits of “going digital,” the majority of respondents are hitting roadblocks—lack of internal alignment, lack of adequate skills and plenty of cultural resistance. Coupled with technology constraints and an overall inability to execute, the result is a growing state of anxiety about embarking on digital transformation, with some fearing it may already be too late.

Key findings from the survey concluded:

96% of organisations see digital transformation as important or critical, yet 62% say their organisation is in denial about the need to transform digitally
86% say they have two years to make inroads before suffering financial or competitive consequences (55% say a year or less); 59% are worried they may already be too late
In the UK, the key advocates for digital change are CEO’s at 52%, compared to just 36% of CMO’s
72% feel IT is more likely to be the final decision maker/budget holder for digital initiatives; 78% say better alignment of IT and marketing is needed to deliver on digital transformation efforts
70% of UK respondents consider a reliance on the IT team as being the biggest barrier to delivering compelling customer experience

“Digital technologies are radically transforming business as we know it today and the driving force of change is based on the customer experience. Yet, many organisations continue to resist change. There needs to be a rapid awakening and acceptance that organisations must digitally transform to survive—and do it now,” said Mark Troester, Vice President, Digital Solutions, Progress. “This survey brings to light the reality of today’s digital transformation challenges, helping to educate and equip businesses with the information they need to succeed. Broad ‘digital’ concern has been palpable, but now we have data to prove it.”