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SYDNEY – June 20, 2018 – Riverbed®, The Digital Performance Company™, today announced new research revealing the extent to which poor performance of digital services and applications is impacting business performance in Australia.
The Riverbed Digital Performance Global Survey 2018 found that while business decision-makers in Australia almost unanimously (99%) agree that optimising digital performance is essential to business performance, nearly 80% of respondents reported critical digital services and applications are failing, diminishing productivity and impacting the customer experience, at least a few times a month.
The global survey, which includes responses from 1,000 business decision makers at companies with $500 million or more in revenue, including 100 in Australia, also found 95% of Australian businesses acknowledge significant challenges when it comes to achieving a more successful digital strategy. The most common barriers to advancing digital strategies and delivering the performance and customer experience required in today’s digital world were buget constraints (55%), complex and rigid legacy IT infrastructure (41%) and lack of visibility (46%).
“Nearly all Australian business decision-makers we surveyed acknowledged the tremendous opportunity that maximising digital performance can have on the user experience and bottom line, while simultaneously highlighting the real challenges they face when it comes to making their digital visions reality,” said Keith Buckley, VP of Riverbed Technology ANZ.
“The findings reinforce a sense of urgency amongst these leaders to prioritize investments in modernizing their networks and tools to measure and manage the digital experience for customers and employees. What’s clear is that those who hesitate to embrace digital strategies and processes will quickly fall by the wayside, and those who drive digital performance will see significant business outcomes,” said Buckley.
To download the full Riverbed Digital Performance Global Survey 2018, please visit here.
Awareness is High, Need is Immediate
The need for companies to provide a successful digital experience for customers, partners and employees is well recognised, and it continues to grow in importance. Almost all (97%) of Australian business decision makers believe their company would benefit from improving the performance of their company’s digital services and applications. They see this happening primarily through:
- Improved customer experience and satisfaction (49%)
- Greater market agility (52%)
- Increased revenue/sales and profitability (46%)
- Increased employee productivity (41%)
- Faster time to market (55%)
Hurdles to Implementing a Digital Strategy are Real
It is widely recognised inadequately performing systems today are a key limitation to a successful digital strategy. Of the nearly 70% reporting that critical digital services and applications are failing at least a few times per month and impacting productivity and the end user experience, nearly one in five experience failures at least several times a week. And when critical digital services fail, every minute matters. Just under half (46%) of the survey respondents say the maximum acceptable time to resolve digital performance issues is within an hour, and nearly 15% said within minutes, recognising a digital service failure can cost companies millions of dollars in lost revenue, and significantly impact customer loyalty and brand reputation.
Business leaders are, however, also well aware of the impact these failures can and are having on their businesses. The consequences expressed include:
- Loss of sales and revenue (43%)
- Loss of employee productivity (41%)
- Loss of brand loyalty (40%)
- Loss of customers (39%)
- Delayed product launches (30%)
Investing to Maximise Digital Performance
Smart business leaders are looking to put greater emphasis on the management tools and infrastructure underlying digital services. In fact, 97% say that visibility across the digital experience is critical to measure and manage it successfully; and the majority (97%) of Australian business decision makers believe that a modern IT architecture that delivers greater agility is important to improving digital performance.
More than half (57%) of Australian business decision makers agree time is of the essence and say it is critical their company invests in improving the digital experience for users or customers in the next 12 months. 43% of respondents believe that not investing will cause a loss of sales and revenue.
The key areas business decision makers see themselves making investments in the next 12 months include:
- Ability to better monitor and manage the end user’s digital experience (65%)
- Improving service desk capabilities (56%)
- Modernising networks and infrastructure to drive greater agility (54%)
- Accelerating development of applications (54%)
A significant number of business decision makers also identified cloud solutions and emerging technologies as key drivers of the digital experience moving forward. Nearly all, 96%, of Australian business decision makers believe the use of cloud technologies is important to their companies ongoing digital strategy, and business leaders would like their companies to invest in emerging technologies such as:
- Data Analytics (51%)
- Internet of Things (57%)
- Blockchain Technology (41%)
- Machine Learning (41%)
- Artificial Intelligence (38%)
- Virtual Reality (35%)
- 5G Networks (24%)
For the full Riverbed Digital Performance Global Survey 2018 report that also includes regional and vertical insights, please visit here.
Riverbed is focused on delivering solutions to help organisations maximise digital performance. The Riverbed Digital Performance Platform brings together a powerful combination of Digital Experience and Next-Generation Infrastructure – Cloud Networking and Cloud Edge – solutions, delivering new levels of visibility to measure and manage the digital experience and operational agility to maximise digital performance and dramatically accelerate business performance and outcomes:
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Riverbed®, The Digital Performance Company™, is united in our purpose of Advancing the Human Experience in the Digital World. Behind every digital experience is a human one, and Riverbed enables organizations to measure digital experiences and maximize digital performance so they can deliver better and more powerful human experiences— for customers, employees, partners, patients, and citizens. Riverbed’s Digital Performance Platform includes a combination of Digital Experience Management and Digital Networking solutions that ensure superior digital and user experiences, provides new levels of operational agility and accelerates business outcomes. Riverbed’s 30,000+ customers include 100% of the Forbes Global 100. Learn more at riverbed.com
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