The Open Group launches new digital transformation forum

The Open Group announced the formation of The Open Group Open Digital Transformation™ Forum (ODXF). The initiative aims to support enterprise digital transformation by developing and popularizing pragmatic, open standards.

By establishing clear guidelines for digital transformation initiatives and enabling cross-industry collaboration to share insights and best practices, ODXF will ensure that greater share of digital transformation investment delivers global results and drives positive impacts on cultural, workforce and technological changes, according to the announcement.

The Open Group is a vendor-neutral technology consortium that enables the achievement of business objectives through technology standards and open-source initiatives by fostering a culture of collaboration, inclusivity and mutual respect among a diverse group of 900+ memberships.

Making digital transformation more agile and responsive

Key focus areas for ODXF include developing standardized frameworks for digital transformation initiatives, ensuring consistency and producing reference architectures which organizations can incorporate to make their own digital transformation journeys more agile and responsive, stated a press release.

“The vast majority of enterprises today are engaged in digital transformation initiatives, with significant global spend in digital transformation,” said Rashed Al-Yami, governing board member of The Open Group and manager digital platforms and architecture design division at Aramco. “By developing open standards through vendor-neutral collaboration, ODXF can influence the digital transformation agenda towards more rigorous and successful practices.”

The forum will also collaborate on establishing a body of knowledge, incorporating a range of documents designed to help users operationalize the standard, as well as delivering a certification program for practitioners to demonstrate that they understand and can apply best-in-class approaches to digital transformation.

“Digital transformation is not a new term, but the emergence of a range of disruptive technologies, from [artificial intelligence] AI to quantum computing, has made it more urgent than ever for businesses to find a clear guiding path towards proven approaches to this challenge,” said Steve Nunn, president and CEO of The Open Group. “Our track record of bringing industry stakeholders together in a neutral, collaborative space means that The Open Group is well placed to add value to one of the world’s major areas of investment.”

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Digital transformation projects cost over $10 million but 37 percent still fail

Digital transformation projects cost an average of US$10.9 million, with 37 percent of projects failing. That’s according to the Unlocking the Power of Digital Transformation report by VML Enterprise Solutions.

The research paints a rather damning image of digital transformation success rates, revealing that while initiatives are frequent and costly, they often fall short of expectations. The findings are based on a survey of 4,000 business leaders across eight countries and highlight the need for a more strategic and holistic approach to transformation efforts.

One of the primary reasons for the high failure rate is the lack of a clear strategic vision and effective leadership. Almost two-thirds (64 percent) of digital transformation projects start without a clear roadmap, while 56 percent of respondents claim that senior leadership does not effectively support initiatives.

What’s more, customers are often being overlooked in the digital transformation process, which is another common cause of failure. More than three-quarters (76 percent) of those polled say that digital transformation projects aren’t aligned with customer needs, with many businesses being too internally focused.

Meanwhile, 69 percent of businesses say existing systems hinder transformation efforts, with 81 percent reporting that cloud technology has fundamentally changed their approach.

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