Compared to their international peers, more Canadian organizations reported falling behind in implementing their digital transformation strategies. Half of Canadian technology leaders (51%) reported their programs were delayed or slowed despite support and funding from senior leaders, compared to just 40% internationally.

This data is consistent with the results of previous KPMG studies, which found that many such programs were on hold or were on the verge of being put on hold as the company preferred to prepare for a possible recession in the near future, also due to employee burnout and a lack of skilled talent.

Technology leaders also cited skills shortages as one of the two biggest barriers to adopting new digital technologies in their organizations. The other barrier is risk aversion, or their organization’s reluctance to abandon existing practices.

“During times of economic downturn, the companies that will be the leaders are those that continue to invest in core business priorities, develop use cases for breakthrough technologies and encourage the acquisition of the necessary skills,” explains Kathy Penner, partner and national leader. Technology – Business Solutions, KPMG in Canada. So when a recovery comes, they can make the most of those investments, leading to solid growth. »

All survey respondents agreed that their digital transformation efforts have had a positive impact so far, leading to increased profits and higher performance.

Over the past two years, a quarter of respondents (26% vs. 38% globally) reported that profits increased by 6-10% due to transformation. In addition, 19% of companies (20% globally) reported an increase in profitability of 11% or more, and more than half (54% vs. 42% globally) reported a profit increase of 1% to 5%.

“Executives are now closely monitoring their investments in technology and digitalization,” says Penner. “The majority of them actually have to prove that the return on investment is positive and that the delivery models are scalable.”

You have access to further commentary on cloud computing, business technology and cybersecurity in The Global Technology Report – A Canadian Perspective.