More than half of respondents said they have deployed, or are in the process of deploying, digital initiatives. That is, they are working to convert manual, paper-based or offline business processes to online, networked, computer-supported processes that facilitate a real-time operating and decision-making environment.
While such efforts are widespread, they continue to be hampered by cumbersome legacy systems, a lack of internal expertise, a resistance to outsourcing and a lack of management support.
AVERAGE AMOUNT MIDDLE MARKET COMPANIES SPENT ON DIGITIZATION PROJECTS OVER THE PAST 12 MONTHS: 12% OF REVENUES
As a result, company leaders say they have a long way to go before digitization can deliver on its promise of business transformation.
The statistics, tables and charts on this page offer a look at where middle market companies stand on the road to digitization, what efforts they’re making to travel it and which obstacles stand in their way.