TMCnet News
Sensei Labs Shares the State of Transformation 2024 Survey ResultsToronto, Canada, May 13, 2024 (GLOBE NEWSWIRE) -- TORONTO, CANADA, May 13, 2024 (Globenewswire) -- Sensei Labs today shared the results from their first State of Transformation Survey, reaching more than 150 business transformation leaders in large enterprises globally. The survey was conducted in partnership with in partnership with the Process Excellence Network’s OPEX Week Business Transformation World Summit event. Enterprise transformation is one of the critical disciplines that will drive the growth and success of large businesses globally. IDC forecasts spending on the digital transformation subsegment alone will reach nearly $3.9 trillion in 2027 with a five-year compound annual growth rate (CAGR) of 16.1%1. A recent HBR article2 highlighted the extraordinary failure rate of these programs, showing that only 22% of companies in their analysis successfully transformed themselves. McKinsey’s research supports that conclusion, finding that the more transformation actions a company takes, the greater its chances for success, but less than one-third of companies they've studied say their transformations have been successful at both improving organizational performance and sustaining those improvements over time3. In our current era of rapid technological advancements and significant market volatility, understanding the dynamics of business transformation is critical. The State of Transformation 2024 survey explores the demographics of participating companies, the scale of their transformation teams and efforts, the types of programs they’re executing, and the people, platforms, and processes that enable them. Some critical findings:
“The ever-increasing rate of volatility, uncertainty, complexity, and ambiguity in today’s enterprise environments means transformation skills and maturity are critical predictors for long-term success,” said Jay Goldman, Co-founder and CEO of Sensei Labs. “Benchmarking your transformation efforts against other large enterprises enables transformation leaders and management offices to understand how they should adapt their spending, focus areas, and teams. These survey results are an indispensable tool and source of reliable data to understand the current state of enterprise and business transformation.” A complimentary copy of the full report, including more than 30 questions and analysis, is available from https://www.senseilabs.com/state-of-transformation/. ________________________________________________________________________________ ABOUT SENSEI LABS INC. Conductor® by Sensei Labs® brings clarity to complexity at every stage of your transformation journey to accelerate benefits and de-risk execution. Conductor is an enterprise-grade, AI-powered transformation platform that creates harmony from strategy through execution, delivering KPI/benefits tracking, accountability, and governance on your terms. Conductor empowers transformation journeys for the world’s largest companies, government agencies, professional service firms, and private equity funds. Learn more at https://www.senseilabs.com. Sensei Labs and Conductor are registered international trademarks of Sensei Labs, Inc. and cannot be used without expressed permission. 1 https://www.idc.com/getdoc.jsp?containerId=prUS51352323 2 https://hbr.org/2021/09/the-secret-behind-successful-corporate-transformations 3 https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/successful-transformations 4 https://www.constellationr.com/research/how-transformation-platform-reimagines-success Attachment Collin Cooper [email protected] +1 (855) 736-7345 |