Business complexity continues – GuruFocus.com
Global survey suggests companies need to re-examine their approach to digital transformation to better help employees adapt to change
CAMBRIDGE, Mass., May 23, 2022 /PRNewswire/ — A new global study from Pegasystems Inc., (NASDAQ: PEGA) on the state of business complexity found that nearly three in four employees (71%) believe that the complexity of their work continues to increase. increase as customer demands increase. At the same time, employees at all levels report feeling overloaded with information, systems and processes, making it difficult for them to adapt to these new challenges and meet the growing needs of their customers.
As the pandemic dragged on, most companies rushed to roll out digital transformation projects to help deal with this new reality. But survey results from more than 4,000 employees in the Americas, EMEA and APAC suggest that these initiatives either didn’t go far enough or were implemented in silos without a unified vision. In fact, 42% of respondents believe that digital transformation can even have increase the complexity of their work, a surprising perception that should lead some organizations to review their digital approach.
But before they can redefine a new strategy to reduce business complexity, organizations must first understand the key factors that are rapidly increasing it. Survey respondents identified a mix of organizational, technological and societal factors that add complexity to their work, the main ones of which include:
- Manage information overload, reported by 90% of respondents
- Navigate internal processes and bureaucracy (89%)
- Managing projects, teams and people (88%)
- Keeping pace with rapid change (87%)
- Lack of resources (86%)
How can companies better manage these complicating factors? According to survey respondents, they should start by breaking down technology silos. Having too many/different systems was the top technology issue driving complexity in their organization, selected by 43% of respondents. When asked what companies could do to make their technology experience less complex, their top remedy was to deploy systems that integrate more easily with other technologies (selected by 40% of respondents). This suggests that companies need to take a more unified approach to digital transformation, as opposed to piecemeal projects implemented in isolation.
The survey also highlighted how the pandemic has specifically contributed to accelerating business complexity in several ways:
- Overall, most employees (56%) believe the pandemic will make business more complex in the long run.
- One in three employees (35%) think hybrid work arrangements make business more complex. When asked why, 38% said hybrid working made it harder to draw boundaries between their work and personal life.
- Nearly one in three employees (32%) think the pandemic is making it harder to find the right people to hire, while 61% say their company can’t attract talent with the technical skills to do the job right .
With the pandemic triggering rapid change, many employees want their organization to adapt even faster: one in three said their organization is moving too slowly to respond to change. But despite its own complexity, technology remains the key to streamlining their job functions, as 98% agree that technology is essential to doing their job well.
The global survey was conducted by research firm Savanta in January and February 2022 understand the evolving nature of business complexity. For more information, download the full Demystifying Complexity in the Modern Workforce report at www.pega.com/business-complexity.
Plus, learn more about the survey tomorrow at PegaWorld iNspire, Pega’s annual conference, being held virtually at May 24 of 09:00 – 11:30 a.m. EDT for the Americas and Europe and again on May 25 of 10:00 a.m. – 12:30 p.m. AEST for Asia Pacific.
Quotes and comments:
“With the growing complexity of businesses, business leaders need to rethink their digital transformation strategies,” said Tom Libretto, chief marketing officer of Pega. “Too many companies applied quick fixes at the start of the pandemic that were siloed in nature and simply didn’t go far enough. Now is the time to step back and implement a smarter, holistic and unified – an approach that simplifies and streamlines workflows so employees can thrive and customers succeed Our new survey helps companies understand why they continue to suffer from complexity so they have the information they need to reset their digital transformation agenda and better cope with change, no matter where it comes from.
Pega provides innovative software that crushes business complexity so our customers can make better decisions and get their jobs done. We help the world’s biggest brands solve their biggest business challenges: maximizing customer lifetime value, streamlining customer service and improving operational efficiency. Pega technology is powered by real-time AI and intelligent automation, while our scalable architecture and low-code platform help businesses adapt to rapid change and transform for tomorrow. For more information, please visitwww.pega.com.
All trademarks are the property of their respective owners.
View original content for multimedia download: https://www.prnewswire.com/news-releases/business-complexity-continues-to-accelerate-at-a-rapid-pace-according-to-pega-study-301552778 .html