CANADA CIO 2020 - Priorities | Digital Transformation | Innovation by IDC

Take a look at the latest survey findings of CANADA CIO 2020 - Priorities, Innovation and Digital Transformation.

n = 161 respondents based in Canada

It is very clear from the report that “Canadian Organizations Need Help in 2 areas majorly i.e. Digital roadmap creation and infusing an Innovation culture” .  

Key insights are

1. By 2025, over 50% of all IT spending will be directly for digital transformation and innovation (up from 25% in 2018).
2. CIO Pain Points: Limited Expertise and Lack of Tactical Plans or Roadmaps are Most Common Obstacles to Digital Transformation
3. CIOs need further guidance with their digital transformation strategy and in developing a holistic enterprise roadmap to respond to changing customer demands and industry dynamics. i.e. 1/3 of Organizations have no plans to establish a Digital Transformation Roadmap while majority work through early stages of DX Strategy. And those (48%) without a DX Road Map were the least likely to expect an Increase in Technology Spending 
4. Only 5% of Canadian executives believe their Digital Business are “Best in World”
5. 42% IT Executives see Business Agility (Ability to change/adapt in a timely manner) as being the top Concern in supporting the Organization
6. Only 1 in 3 Enterprises are “Digitally Determined” meaning
• Integrated, continuous enterprise-wide DX innovation is in place with operations and customer/service experiences
• The enterprise strategy is to use DX to transform markets and customers by creating new business models and offerings
7. Formal innovation groups are becoming more common in Canadian enterprises to enable DX, yet many organizations struggling to foster an innovation culture.
8. IT Buyers are confused about tech industry terms: and they need clarity
• Edge computing, Digital Transformation, Blockchain, AI, IOT
9. 60% of B2B buyers have already made their purchase decision before speaking to a sales person

How to capture Accelerating the Buyer’s Journey using the below 5 steps

1. Identify the buyer’s problem – e.g.
•  “I want to reduce my corporate office energy costs.”
• “I need to reduce errors & increase manufacturing  efficiency.”
2. Discover the buyer’s questions at each stage of the journey

1. Explore	Evaluate	Purchase
   What are other companies like me doing about this challenge? Why do I want to solve this problem? Who are the suppliers?	Do the solutions they offer meet or exceed my needs? Better than competitors? Are their customers achieving the success they expected? How can I easily demo and evaluate this vendor's solution?	Can I afford to buy and implement this solution from this vendor? Why should I buy now? How can I get purchasing assistance?

3. Identify information that addresses each question
4. Develop appropriate service offerings/solutions/assets that address the buyer’s questions
5. Distribute service offerings/solutions through stage-appropriate channels

Courtesy & Inspiration!

1. CIOCAN Association - https://www.ciocan.ca/idcs-top-executive-survey-results-2019/
2. IDC CIO Study - https://www.ciocan.ca/?wpfb_dl=194
3. Webcast - https://goto.webcasts.com/starthere.jsp?ei=1283069&tp_key=351643569d