88% of Aussie firms feel threatened by start-ups

Over six in 10 (63%) Australian business leaders have experienced digital disruption to their industries, and 88% consider digital start-ups a current or potential threat.

These are among the findings of a survey of business leaders in 12 industries across 16 countries, commissioned by Dell.

The survey also shows that the majority (57%) of Australian business leaders are unsure what their industry will look like in three years’ time as a result of disruption.

Digital disruption is putting Australian businesses under pressure to transform, with 77% making a centralised technology strategy a priority and 71% seeing the importance of investing in IT infrastructure and digital skills leadership.

But progress is lacking, with 74% of business leaders admitting that digital transformation efforts could be more widespread.

Major barriers to fully embracing digital transformation include data privacy and security concerns (37%), lack of senior management support (36%) and insufficient resources (32%).

“Australian organisations that have, or are, digitally transforming will be those that stay ahead of the competition as the fourth industrial revolution unfolds,” Dell EMC Enterprise Lead for Australia and New Zealand Mark Fioretto said.

“The survey results give a good indication that local businesses are making significant strides in their digital transformation journey as 47% look to integrate digital goals into all departmental and staff objectives and 38% assign a dedicated executive committee to assess progress.”

Image courtesy of Stefan Rheone under CC