Digital transformation has been foundational to any forward-looking business and organizational strategy for many years, but never more so than today. In the digital era, centering an innovative approach to technology at the heart of your business is essential to credibility, impact, growth and efficiency. However, ensuring readiness to adapt to future market, customer or employee needs demands continuous effort and re-appraisal.
More urgency required: technology needs to be at the core of business strategies
The latest market study from Digital Enterprise Journal, 24 Key Areas Shaping IT Performance Markets in 2022 - based on interviews with tech practitioners, managers and business execs at over 3,300 organizations – speaks directly to this, noting that while “organizations are understanding the benefits of digital transformation, many of them didn’t have a sense of urgency for putting technology in the core of business strategies.”
“The study shows that organizations that fall behind their competitors when it comes to modernization and using technology to create a business value are experiencing rapid declines of their competitive position. The business pressures are causing organizations to understand that using technology to create differentiating customer experiences is no longer optional and that it requires changes to their mindset, strategies, technology capabilities and processes.”
Indeed, according to DEJ, ‘technology as a business advantage is not optional.” Our CEO recently spoke to exactly this in a podcast with the CIO Executive Council as he shared his insight into the urgency of embracing digital. Mehdi saw this firsthand in his interactions with the luxury market over the last two years, which have had to pivot from an almost non-existent digital culture to one in which by the end of 2021, 92% of interactions were online. Simultaneously, we are also seeing long-standing customers pivot towards ever greater heights of web performance, new types of customer personalization in their apps and sites, and a heightened commitment to service reliability.
DEJ highlights Catchpoint as a leader across multiple areas
In DEJ’s follow up report, Top 20 Vendors for Managing IT Performance in 2022, aimed at helping end-user organizations pinpoint the right solution for their needs, Catchpoint was Identified as a leader across multiple areas.
Vendors were evaluated based on how they align with key user requirements and challenges (as reported in the market study) in relation to their core strengths and capabilities.
The 8 areas highlighted are:
- Enabling unique customer experiences
- Enabling a cloud native journey
- Managing innovation
- Balance between speed and reliability
- Changing the importance and definition of “visibility”
- Everything in the business context
- Impact of change
- Focus on high-value work
“In addition to the 8 areas listed," says DEJ, "Catchpoint’s capabilities are well aligned with user requirements in nearly all other 14 key areas identified in the study.”
Changing the importance and definition of “visibility”
The #1 capability organizations say they need, according to DEJ, is “correlating IT performance to business outcomes.” To do this, the market study points to “data management and analytics capabilities” as “key focus areas” in relation to key business/tech initiatives such as managing complexity, innovation management and modernizing IT service delivery organization.
Related to this are DEJ’s findings linked to the changing definition of visibility. 64% of organizations said they are deployed or were about to deploy observability capabilities. Further, 58% of organizations reported that they “lost visibility into the digital service delivery chain after conducting modernization projects.”
Observability has become a “hot term”, DEJ, says, because “having full visibility has become more important, more difficult to achieve, and requires a new approach.” Organizations should assess their environments and key needs, the report advises, and importantly, “ensure they eliminate ‘blind spots’ that can deteriorate business performance.”
In a virtual panel led by DEJ, Mehdi observed, "the majority of the problems that customers face today are in one bucket which is the unknown unknown. I don't know I have a problem, number one, and I don't know how to solve it." The panel agreed organizations should strive to take an approach in which they first identify their problems, how they can solve them, and then apply the tools that will help them do so.
Watch the video below in which Mehdi, along with two CEOs from the other highlighted vendors, discuss the value, potential, and confusion around observability with the president of DEJ, Bojan Simic.
“Catchpoint’s platform enables a unique approach to Observability by bringing together visibility into user experience, network and applications. The company’s global observability network allows organizations to address the key ongoing challenge for managing IT performance – proactively prevent performance issues before users are impacted. Catchpoint’s key differentiator is that it enables two key missing elements for true Observability: 1) managing digital experiences; 2) providing business context around IT performance.”