An End User Perspective on Navigating Digital Transformation in Finance, Banking, and Insurance, Global, 2017

Gain a Competitive Advantage Using Insights from IT Buyers

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The overall research objective is to measure the current use and future decision making behavior toward information technology (IT) in Finance, Banking, and Insurance, specifically: Enterprise Mobility Management, eCommerce/mCommerce, Unified Communications & Collaboration (UCC), Infrastructure and Data Centers, Big Data and Analytics’ Omnichannel Marketing, Customer Experience Management, Cyber Security, Internet of Things, Enterprise Content and Business Processes Management, Fintech, and API/CPaaS (Application Programming Interface/Communications Platforms as a Service) Strategy.

Frost & Sullivan aims to:
• Understand the IT-related challenges organizations face today
• Monitor the status of digital transformation including newer solutions such as Artificial Intelligence (AI), Augmented Reality/Virtual Reality
(AR/VR), and mCommerce
• Assess the current and future use of business communications technologies
• Evaluate factors that drive investments in communications technologies
• Gauge IT and communications trends
• Appraise available IT budgets

The top IT investment drivers include improving productivity (45%), improving customer experience (38%), and reducing operational costs (35%).

Big data and analytics is the leading technology to have the greatest impact on both, revenue growth and cost reduction efforts.
About 47% of respondents who implemented IoT believe that its key benefit is to boost customer service and marketing.
Social media allows organizations to stay in better touch with customers through customer feedback and identify user trends. It also helps them to improve collaboration.

The optimism around being an early adopter and the high growth in IT investments bodes well for IT solutions providers. Companies that are able to effectively help end user industries to implement a digital transformation strategy will be the winners.

Table of Contents

1. Research Objectives and Methods
Research Objectives
Survey Methodology
Navigating Digital Transformation—Respondent IT Decision Maker Profile, Finance, Banking, and Insurance, Global, 2017
2. Summary of Key Findings
Summary of Key Findings
3. Perceptions of IT Solutions
Navigating Digital Transformation—IT & Communications Investments Today, Finance, Banking, and Insurance, Global, 2017
Navigating Digital Transformation—Top Challenges for IT, Finance, Banking, and Insurance, Global, 2017
Navigating Digital Transformation—Top Drivers for IT Investment Over Next 2 Years, Finance, Banking, and Insurance, Global, 2017 to 2019
Navigating Digital Transformation—Top Technologies to Impact Revenue Growth, Finance, Banking, and Insurance, Global, 2017
Navigating Digital Transformation—Top Technologies to Impact Cost Reduction Efforts, Finance, Banking, and Insurance, Global, 2017
Navigating Digital Transformation—Top Security Concerns Regarding IT, Finance, Banking, and Insurance, Global, 2017
4. Digital Transformation—Technology Trends
Navigating Digital Transformation—Top Benefits of IoT Investments, Finance, Banking, and Insurance, Global, 2017
Navigating Digital Transformation—Decision-Making Factors When Selecting a Cloud Provider, Finance, Banking, and Insurance, Global, 2017
Navigating Digital Transformation—Benefits of Cloud for IT and Communications Solutions, Finance, Banking, and Insurance, Global, 2017
Navigating Digital Transformation—Percent of Mobile Devices Used for Job Functions, Finance, Banking, and Insurance, Global, 2017
Navigating Digital Transformation—Benefits of Social Media, Finance, Banking, and Insurance, Global, 2017
5. Digital Transformation—IT Budgets and Plans for Investments
Navigating Digital Transformation—Budget Change Expectations, Finance, Banking, and Insurance, Global, 2018
Navigating Digital Transformation—Plans for Investment Over Next Two Years, Finance, Banking, and Insurance, Global, 2017 to 2019
Navigating Digital Transformation—Critical Investments for Digital Transformation Over next Five Years, Finance, Banking, and Insurance, Global, 2017 to 2019
6. Digital Transformation—Strategic Imperatives
Strategic Imperatives for Success and Growth
7. The Last Word
Three Big Predictions
Legal Disclaimer
8. The Frost & Sullivan Story




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