MuleSoft, provider of the world’s #1 integration and API platform, today announced the findings of The State of Business and IT Innovation report. The global survey1 of 1,739 line of business (LoB) employees in organizations with at least 250 employees revealed only 37% of organizations definitely have the skills and technology to keep pace with digital projects during the COVID-19 pandemic.
The vast majority (82%) of LoB employees believe they need quick and easy access to data, IT systems and applications to do their jobs effectively and remain productive. Access to data is critical as more than half (59%) of LoB users are involved in identifying, suggesting or creating new ways to improve the delivery of digital services externally, such as building an online self-service portal or a customer-facing mobile application. Yet less than one-third (29%) think their organization is very effective in connecting and using data from multiple sources to drive business value.
“Every industry faces immediate change, and every organization needs to respond to the needs of its customers faster than ever before in a digital-first world,” said Brent Hayward, CEO, MuleSoft. “This research shows data is one of the most critical assets businesses need to move fast and thrive into the future. Organizations need to empower every employee to unlock and integrate data — no matter where it resides — to deliver critical time-sensitive projects and innovation at scale, while making products and services more connected than ever.”
The State of Business and IT Innovation report highlights the challenges and opportunities businesses need to address to digitally transform:
Data silos increasingly slow down digital initiatives
According to McKinsey, businesses that once mapped digital strategy in one to three-year phases must now scale their initiatives in a matter of days or weeks. This report also sheds light on the COVID-19 pandemic leading to an increase in digital initiatives by an average 11-23%2, highlighting what is hampering the pace of business and the ability to meet customer expectations:
Integration challenges directly impact revenue and customer experiences In light of increasing operational inefficiencies, it is not surprising that more than half (54%) of LoB respondents say they are frustrated by the challenge of connecting different IT systems, applications, and data at their organization. Many view this weakness as a threat to their business and the ability to provide connected customer experiences.
Organizations must unlock data to empower everyone to go digital, faster As demands for digital initiatives grow, organizations across industries need to move faster than ever before. Business users are frustrated by data silos, slowing their ability to meet customer demand and innovate in today’s all-digital, work from anywhere world. The report highlights the need to democratize these capabilities by giving business users the tools they need to easily and quickly unlock data, connect applications and automate processes.
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