Digicel Business 2024 report: 60% delayed in digital transformation

DIGICEL Business launched its third Digital Transformation Report, in collaboration with Symptai Consulting Ltd, and delved into the progress and challenges faced by businesses across the region.

Evolving from the need for digital transformation that the pandemic highlighted, a Digicel release said, this report provided an understanding of the current regional state of readiness and actionable insights to navigate this journey.

More than 2,500 businesses across the Caribbean were surveyed and while there’s been an increase in the number of organisations that have a strategy in place (77 per cent in 2024 vs 61 per cent in 2022), 60 per cent of those surveyed reported being delayed in the roll out of their digital transformation plan.

The top three barriers to success that came up were systems not being properly integrated (35 per cent), key resources being consumed with operational issues (34 per cent) and inadequate priority setting and lack of focus from the senior level of the organisation (31 per cent).

Marcelo Cataldo, Digicel Group CEO said, “Understanding how important digital transformation is to the business life cycle, this report helps by providing data that can be used to drive transformation journeys. Our aim is to reach businesses at various stages of their journey ­– whether they are initiating, progressing, or reassessing their strategies – to provide them with valuable insights and support.”

This report also contains key insights for specific industries and groups, including hospitality, financial services, government/public sector and small and medium sized enterprises.

With the importance of digital technology growing from 44 per cent in 2021 and expected to reach 95 per cent by 2025, it’s critical that the various industries leverage their digital capabilities to serve their customers and citizens effectively.

Cataldo continued, “Transformation doesn’t happen overnight, but is a process of ongoing evaluation and improvement. By working with best-in-class global partners we’re able to provide better solutions for better business.”

Marlon Cooper, Symptai’s CEO added, "The goal of digital transformation is to provide better conditions in the everyday lives of people, businesses and stakeholders. In a digitally transformed Caribbean, we could be an exporter of technology products and services and a contributor to innovation.

"Doing business is easy, because almost all services are online, which leads to an explosion in entrepreneurship, hassle-free tax collection and trust in e-solutions. We’re all in a large interconnected digital ecosystem and this report provides clear opportunities and steps to achieving this future."

The release said that Digicel Business remains committed to supporting businesses across the region in their digital transformation journeys. Recognising its role as a catalyst for digital advancement, Digicel Business offers organisations access to expert strategists and consultants, as well as worldclass hardware and technology to equip them to deal with the ever-changing digital landscape.