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Report: Orgs wasted $4.12M on failed digital transformation projects

According to a new report by Couchbase, 88% of IT leaders said their digital transformation projects had been driven more by changes in user behavior than by creating new business opportunities. The research, done in partnership with Vanson Bourne, also found that although digital transformation projects are improving, enterprises still wasted on average $4.12 million per organization on failed, delayed or scaled-back initiatives. Moreover, 82% of enterprises were prevented from pursuing digital transformation projects in 2021, and 80% had projects fail, suffer delays or be scaled back.

While some of this was due to external factors made worse by the pandemic, many issues were caused by a reliance on legacy technology, problems accessing or managing relevant data or a lack of skills to deliver digital projects. These results indicate a clear need for change in organizations’ tech stacks, especially given that 89% reported that their organizations are at risk if they fail to modernize in the next 12 months (with consequences including losing valuable staff to more innovative competitors or simply going out of business).


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