Digital Transformation in Greece 2019 report: How far have the Greek firms advanced?

Most Greek businesses, nowadays, recognize the need for digital transformation. However, this does not mean that they are confident in identifying the steps towards the right direction. Research published in the extensive report produced by Found.ation, in collaboration with EIT Digital (part of the European Institute of Innovation and Technology) for the third consecutive year, reveals some interesting aspects of the corporate reality.
In the report titled “Digital Transformation in Greece 2019” (available in English), an in-depth analysis of the dimensions of digital transformation is provided, in line with the latest global trends while at the same time the status quo for both the public and the private sector in Greece is outlined. Additionally, examples of good practices from the Greek corporate world from firms like Alpha Bank and L’Oreal Hellas are presented. The participants of the survey are experienced business executives who understand the needs and challenges of digital transformation.
As the Minister of Digital Governance, Kyriakos Pierrakakis, notes in his statement, technology plays an important part: “We want to build our economy on top of innovation. The development of the startup ecosystem has been one of the biggest success stories of the last 10 years. We believe there is a need to change the Greek economy’s components, become more outward-looking, attract foreign direct investments (FDI) and export more products. Digital technologies are the catalyst for this venture. This report plays an important role in helping us and the entire Greek tech community to achieve this goal.”

Some of the report’s highlights:

• The majority of executives involved in Found.ation’s survey (90% in 2019, up from 82% in 2018) said their company is running a digital transformation project. According to them, these projects have been running for the last 5 years on average.
• The percentage of companies focusing on digital innovation is also increasing (54% in 2019, up from 49% in 2018). However, when asked which department of their company is responsible for digital transformation projects, the answers are quite divided: 36.5% have a department with the words “Digital” or “Innovation” in its title, while 30.8% say that this part is played by the CEO, upper management or a business development department. 21% of the companies seem to assign this process to the IT / Operations department.
• In 2018, “resistance to change” has emerged as the number one barrier to a company’s digital transformation. In 2019, the “need for new skills” is at the forefront, demonstrating that everyone now recognizes the importance of reskilling and upskilling employees. Along the same lines is the high percentage of those who responded that their company provides some kind of training program or offers personal development opportunities (70.59%).

You can read the full report (in English only) by clicking this link.