December 8, 2022

  67% of enterprises are under ‘incredible pressure’ to accelerate digital transformation, but 60% say change management programs are ‘no longer fit for purpose’

SAN FRANCISCO , Aug. 10, 2022 /PRNewswire/ —  WalkMe Ltd. (NASDAQ: WKME), a leading provider of digital adoption solutions, today released ” The State of Electronic Adoption 2022-2023 ” report, showing enterprises’ struggle to give employees the ability to use digital tools as they are intended and in order to their fullest extent. 1   It found a lack associated with uptake of digital technology means enterprises over-spend by more than $32 million in order to reach their strategic goals. In addition, 67% of organizations are below “incredible pressure” to speed up digital change. Yet, they cannot guarantee that employees will fully use the technology at their disposal and so maximize its value.

Sixty percent associated with enterprises say that change management applications are “no longer match for purpose, ” while 70% could not identify exactly who is responsible for managing the particular adoption of new technologies in their organization. Enterprises plan to spend a lot more than $30 million addressing these challenges in the next three years. The right approach could greatly reduce almost $100 mil in costs caused simply by organizations’ inability to fully realize the value of their own technology investments.

“Technology is the lifeblood of organizations, with most saying it’s more important than a head office. Yet by failing to make full use of the resources at their disposal, enterprises are constantly subjecting themselves to needless losses, ” said Ofir Bloch , Vice President of Strategic Positioning, WalkMe. “Whether it can projects faltering to meet expectations, an failure to maximize the particular value associated with application opportunities, falling behind on tactical goals, compensating for employees’ lack of electronic dexterity, or employee churn caused by frustrations with technologies, the costs all add up. Every enterprise has the potential to take full control of their particular digital purchases, but they need the right strategy in order to do so. inch

Additional findings from the statement include:

Counting the particular cost of a lack of uptake

A lack associated with uptake expenses the average enterprise with ten, 000+ employees greater than $96 million , including:

  • $32. 48 million from additional spending needed to meet strategic goals missed due to a lack of adoption associated with technology
  • $26. 19 million from digital modification projects that will did not meet their objectives because end users failed to use the technology as expected
  • $16 million from declining to understand the full value of their application investments
  • $21 mil through spending on training, support and other ways of paying for employees’ lack of digital dexterity
  • $1. 14 million from replacing employees leaving due to worries with technologies

Technology is at the heart of the particular employee experience

Businesses recognize that technology is key in order to satisfied workers:

  • 64% state that technology and end user experience are more important than office facilities when it comes to attracting and retaining talent
  • 61% say that poor employee experiences with IT are likely to add to the “Great Resignation”
  • At the same time, training plus support have to be tailored in order to the individual: 63 % say an one-size-fits-all approach to technology assistance and training “isn’t applicable”

Maximizing uptake is the priority, but businesses lack focus

Maximizing ownership of digital technologies will be a clear priority with regard to businesses:

  • 40% say application utilization is a top priority, with only security higher
  • In 71% of businesses, the C-suite takes a strong interest in the particular adoption associated with new systems
  • In 68 % , there is usually an person or team of individuals with responsibility for ensuring adoption of digital technology happens, whilst the same percentage say they make use of adoption because a measurement of alteration success
  • However as seen, most corporations do not know exactly who these individuals are. And maximizing subscriber base does not always appear in enterprises’ strategic targets or KPIs:
  • 60 per cent of businesses do not yet have a clear strategy to increase adoption associated with digital technologies
  • 59% lack specific KPIs designed to measure digital re-homing

“With enterprises planning to invest over $30  million to  increase  the use of electronic technologies over the next 3 years, the right approach will certainly have a major impact, inches continued Bloch. “We can see that there’s the potential to save tens of millions in costs and to free up employees’ period so that they are usually happier and more productive. If enterprises can strategize effectively, coordinate with external partners, and the majority of importantly, understand what plus where they need to coordinate their own efforts to be able to increase usage, they may be able to maximize the cost of the $4. 4 billion invested inside IT every year. ”

Download the entire “The Condition of Digital Adoption 2022-2023” report here .

About WalkMe

WalkMe’s cloud-based Electronic Adoption Platform enables companies to measure, drive and act to ultimately accelerate their digital transformations plus better recognize the worth of their particular software assets. Our code-free platform leverages our proprietary technology to provide visibility to an organization’s Chief Information Officer and business leaders, while improving user experience, productivity and efficiency for employees and customers. Alongside walkthroughs and third-party integration capabilities, our platform can be customized in order to fit a good organization’s needs.

Special   Note Regarding Forward-Looking Statements:

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Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following:   the ability to manage our growth efficiently, sustain our own historical growth rate within the future or achieve or maintain profitability; the particular impact of the COVID-19 pandemic or adverse macro-economic changes on our business, financial condition and results of operations; the growth plus expansion from the markets for our offerings and our ability to adapt plus respond successfully to evolving market conditions; our estimates of, and future anticipations regarding, the market opportunity; our capability to keep pace with technological and competitive developments plus develop or otherwise introduce new products and solutions and enhancements to our existing offerings; our ability to maintain the interoperability of our offerings across devices, operating systems and third-party applications and to maintain and expand our own relationships along with third-party technologies partners; the effects of increased competition in the target markets and our ability to compete effectively; our own capability to attract and retain new customers plus to expand within the existing customer base; the particular success associated with our sales and marketing operations, including our capability to realize efficiencies and reduce customer acquisition costs; the percentage in our remaining overall performance obligations that we expect in order to recognize as revenue; our ability to meet up with the service-level commitments under our client agreements and the effects on this business if we are unable to do so; our own relationships with, and dependence on, various third-party service providers; our dependence on our management team along with other key workers; our capability to maintain and enhance awareness of our brand; our ability to offer high quality customer support; our ability to effectively develop plus expand the marketing and sales abilities; our capability to keep up with the sales prices of our offerings plus the effects of pricing fluctuations; the sustainability of, and fluctuations in, our gross margin; dangers related in order to our international operations plus our ability to increase our worldwide business operations; the effects of currency exchange rate variances on our own outcomes of procedures; challenges and risks related to the sales to government entities; our capability to consummate acquisitions at our historical rate and in acceptable costs, to enter into other strategic transactions and relationships, and in order to manage the particular risks related to these dealings and arrangements; our ability to protect our own proprietary technology, or to obtain, sustain, protect plus enforce sufficiently broad intellectual property rights therein; the capability to preserve the security and availability of our system, products and solutions; our ability to comply with current and upcoming legislation plus governmental regulations to which we are subject or might become subject matter in the future; changes in applicable tax law, the stability of effective tax rates and adverse outcomes resulting from examination of our income or some other tax returns; risks associated with political, economic and security conditions in Israel ; the particular effects associated with unfavorable problems in our industry or the global economy or even reductions within information technology spending; factors that may affect the future trading prices of our own ordinary shares; and additional risk aspects set forth inside the section titled “Risk Factors” within our Annual Report on form 20-F filed with the Securities plus Exchange Commission on March 24, 2022 , and other documents filed along with or furnished to the particular SEC. These statements reflect management’s present expectations regarding future events and operating performance plus speak just as of the date of this pr release. You should not put undue reliance on any forward-looking statements. Although we believe that will the objectives reflected in the forward-looking statements are usually reasonable, all of us cannot guarantee that future results, levels of activity, efficiency and occasions and circumstances reflected in the forward-looking claims will end up being achieved or will occur. Except while required by applicable legislation, we undertake no obligation to update or revise publicly any kind of forward-looking statements, whether like a result of new information, long term events or perhaps, after the particular date upon which the statements are made or in order to reflect the particular occurrence associated with unanticipated activities.

one Survey of 1, 475 senior company leaders from enterprises throughout North America , Europe , Australia and New Zealand

SOURCE WalkMe

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