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Read Our eBook: The Board's Role in Digital Transformation
Most large organizations and their boards know they must digitally transform processes that are overly reliant on manual tasks, and keep innovating in order to remain competitive and meet the expectations of the marketplace.
As digital infrastructures expand, large enterprises are under increasing pressure to transform "analog" processes and continually innovate to keep up with consumer demands, evolving regulations, and competition from established companies and digital upstarts alike.
Large enterprises have additional challenges to overcome on the road to digital transformation. Enterprise IT projects are notoriously expensive and risky, with the average project coming in at 45% over budget, 7% over time, and delivering 56% less value than expected. Even scarier, studies have demonstrated that larger budget projects actually have a higher rate of failure than their less expensive counterparts.
Because of the significant risk and investment associated with digital transformation at the enterprise level, board members must take an active role in helping implement new development approaches that mitigate these challenges. The time has come to evolve the way enterprises transform, and board members must lead the charge to embrace new development paradigms such as no-code and platforms like Unqork, which lower the risk of transformation.
By championing these shifts, the board lays a foundation for successful digital transformation by encouraging and fostering its uptake across the organization. But it doesn't just stop there.
Let's take a closer look at why board members are integral to driving transformational change at large organizations today.