Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2026 GBAF Publications Ltd - All Rights Reserved. | Sitemap | Tags | Developed By eCorpIT

    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 > Top Stories > Why There’s No Such Thing As Digital Transformation
    Top Stories

    Why There’s No Such Thing As Digital Transformation

    Published by Gbaf News

    Posted on January 24, 2020

    4 min read

    Last updated: January 21, 2026

    Why There’s No Such Thing As Digital Transformation
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    By Alistair Sergeant, CEO of London based Equantiis

    According to the MCA, Management Consultancy has grown by an additional 7% over the last year, now being at the forefront of digital opportunities, with the sector worth an estimated £10.6bn.

    However, despite its exponential growth, recent research revealed that 79% of executives admitted they do not review internal processes before setting KPIs for a transformation process. This supported by the fact an average of 84% of digital transformation strategies fail, due to lack of leadership and clarity on purpose.

    Alistair Sergeant

    Alistair Sergeant

    Because of this, the majority of transformation programs are at a great disadvantage from the start, with no clear direction or strategy, from both the business in hand and for the consultancy or contractor carrying out the work.

    In turn, business leaders continue to fail to understand what digital transformation is, its purpose and how it can drive meaningful change.

    This comes from short-sightedness. A belief that a transformation project is just that – a one time thing or ‘technology project’. In reality, business leaders need to change their perception of digital transformation, discarding their foggy understanding of its value or meaning, and replacing it with the concept of business evolution – a process that enables business leaders to constantly strive for meaningful change, with consistent, positive and measurable outcomes. Here’s why:

    Focus On Outcome, Not Process

    The term ‘transformation’ in itself means to make a change and though change is incredibly valuable, there needs to be a concrete understanding as to what the outcome from that change should be.

    On average, 84% of digital transformation strategies fail, and although this will be the result of multiple different errors, for many it will be the failure to diagnose and understand the complex challenges faced by the organisation in hand. In understanding these challenges, you can focus on what the outcome should be, before honing in on the process.

    Change Perceptions, Question Everything

    Many organisations call on digital transformation for a single project, without understanding how to fully utilise the process to bring about transformative, long-term change.

    To maximise transformation, businesses and leaders need to question everything – their operations, processes and current ways of working – to really understand what is and isn’t working, gaining a clear insight into what needs to be changed and why.

    In understansding how damaging the phrase ‘but we’ve always worked this way’ can be, business leaders start to shift their perceptions and focus on what they want their business to look like and why. Business leaders believe conventional digital transformation is about technology – in replacing it with ‘outcome realisation’, they will understand it’s not just about digital. It’s about people, hearts and minds – everything.

    Future Growth

     A core part of ‘outcome realisation’ is having objectives, goals and targets; knowing exactly what you want from transformation and change.

    These goals – your outcomes – should be aligned with the future longevity of your business, its continued and successful operation and resulting growth.

    The business leaders that try to uphold stagnant, unproductive processes are those more likely to impact the continued growth and development of their business. Those constantly moving forwards, evolving and questioning what isn’t working and why, are those with an admirable future in their hands.

    For too long, business leaders have thought out ‘digital transformation’ as a complex term that is hard to understand and even harder to execute. Yet, the concept of evolution and fresh-thinking outcome realisation overcomes this, forcing leaders to really look at their business on a consistent basis, question everything, and deliver valuable outcomes with resulting growth.

    More from Top Stories

    Explore more articles in the Top Stories category

    Image for Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Lessons From the Ring and the Deal Table: How Boxing Shapes Steven Nigro’s Approach to Banking and Life
    Image for Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Joe Kiani in 2025: Capital, Conviction, and a Focused Return to Innovation
    Image for Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Marco Robinson – CLOSE THE DEAL AND SUDDENLY GROW RICH
    Image for Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Digital Tracing: Turning a regulatory obligation into a commercial advantage
    Image for Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Exploring the Role of Blockchain and the Bitcoin Price Today in Education
    Image for Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Inside the World’s First Collection Industry Conglomerate: PCA Global’s Platform Strategy
    Image for Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Chase Buchanan Private Wealth Management Highlights Key Autumn 2025 Budget Takeaways for Expats
    Image for PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    PayLaju Strengthens Its Position as Malaysia’s Trusted Interest-Free Sharia-Compliant Loan Provider
    Image for A Notable Update for Employee Health Benefits:
    A Notable Update for Employee Health Benefits:
    Image for Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Creating Equity Between Walls: How Mohak Chauhan is Using Engineering, Finance, and Community Vision to Reengineer Affordable Housing
    Image for Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Upcoming Book on Real Estate Investing: Harvard Grace Capital Founder Stewart Heath’s Puts Lessons in Print
    Image for ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    ELECTIVA MARKS A LANDMARK FIRST YEAR WITH MAJOR SENIOR APPOINTMENTS AND EXPANSION MILESTONES
    View All Top Stories Posts
    Previous Top Stories PostLogistics of the Future: Where Freight, Smart Transport and Environmental Responsibility Meet
    Next Top Stories PostThe case for real-time reporting