Enterprises waste $5.5 million on failed DX projects

2021-01-04 04:00

The number of failed, delayed, or scaled-back projects is still high, at 79 percent.

This potentially represents a significant waste of resources: enterprises spent an average of $5.5 million on failed DX projects over the year.

Key findings Pandemic reaction supports spending increase: Average digital transformation spend grew from $27 million per organization in 2019 to $27.5 million in 2020.

The need to divert resources in response to COVID-19 was the most common factor either preventing organizations from pursuing new digital transformation projects, or causing those projects to fail, suffer delays, or be scaled back.

Disrupted projects don't only have a financial cost, but can have a significant effect on business strategy.

72 percent of organizations have had to push their strategic goals back by more than a month or even reset them completely because of delayed, scaled-back or cancelled digital transformation projects.

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