What Is the Average Cost of Digital Transformation?

What Is the Average Cost of Digital Transformation?

[Jason Chisholm] Digital transformation sounds like it could be a very expensive undertaking. I don't know if that's true, right? I think it probably all depends on the organization. I think what I'd like to know, and I'm sure a lot of our customers would like to know, is there a general cost when you're thinking about doing this? What's a perceived budget for something like this?

[Chandler Stevens] Well, Jason, I think it's important towhen you talk about cost and digital transformationfor me, it's more about, what is the cost of not doing it? There's definitely cost if you decide as an organization that we're not going to embrace this new capability or these new services, even though perhaps our competitors are. And so there is this notion that to stay ahead or stay in step with industry norms or norms within the marketplace, it's important to have a digital transformation story and strategy. So costs are important to consider, and certainly, we recognize that not every organization has huge budgets for digital transformation. But it's important to look at it more from the lens of what do we do to really kind of think about cutting costs initially, and then have a digital transformation lead-in?

[Jason Chisholm] Can you definitely spend money the wrong way?

[Chandler Stevens] You can. You can spend money in the wrong ways in areas of looking at technologies that are, quite honestly, maybe very short-lived, or perhaps haven't been quite true tested in the environment or in the industry. I think that when you're looking at cost control, and you're looking at where to place your money, it's important to think about the fundamentals. Think about the ability to have employees able to perform work anywhere on any device, as an example. So definitely an investment there would make sense because you're raising the productivity and giving your organization a better chance to have—not be constrained by not being able to access email or not being able to access resources at any given time.

[Jason Chisholm] Ok, thank you. Great answer.

Get the Latest IT News

Stay a step ahead in the ever-evolving world of IT. From security tips to tech trends, our newsletter brings you fresh insights and updates—no fluff, just valuable content to keep you informed and empowered.

Related Insight

Evolution of Ransomware: How Threat Actors are Using Regulatory Compliance Against Businesses

Ransomware is a type of malicious cyber attack that encrypts the victim's data and demands a ransom in exchange for the decryption of the data. In false

Understanding the Risks and Legalities of Decentralized VPNs in Cybersecurity

In today's dynamic cybersecurity landscape, Peer-to-Peer (P2P) Virtual Private Networks (VPNs) have gained popularity for their decentralized false

How to Create the Right Cyber Insurance Policy for Your Business

If you're a small to medium-sized business owner, you're at risk for a cyber attack. Almost half of cyber attacks target SMBs because they know false