RSM US LLP – the nation’s leading provider of audit, tax and consulting services to the middle market – today announced select retail results from its Digital Transformation Survey that assesses organizations’ approaches to digital transformation in various industries. The retail data reveals middle market retailers must properly invest in comprehensive digital transformation strategies to step – and stay – ahead of the competition.
Digital Transformation: A Universal Priority
Digital transformation has become a priority for the entire C-suite at middle market retailers, reflecting the importance of digital transformation across an entire retail organization. A majority of CEOs take ownership for leading strategy (53%), trailed by CFOs and CIOs (31% and 14% respectively).
However, whereas CEOs often take authority for digital transformation strategy, implementation still “lives” with technology-related leaders, with CTOs assuming the most responsibility for execution (72%). CIOs and Chief Digital Officers (CDOs) also play critical roles in implementation, assuming 68% and 64% of responsibility respectively. This trend is expected to grow, with 89% of CEOs and 83% of CIOs, CDOs and CTOs anticipating their roles expanding and in this field. Conversely, only 53% of CFOs see an expansion in digital transformation responsibility, highlighting a potential risk in today’s competitive markets.
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