Enterprises losing more than $1M a week through inefficient technology use, WalkMe report reveals

Investment in digital adoption technology rises 63% year-over-year, as employees spend 44 working days a year compensating for technology issues

SAN FRANCISCO, Feb. 07, 2024 (GLOBE NEWSWIRE) -- WalkMe Ltd. (NASDAQ: WKME), a leading provider of digital adoption solutions, today released its flagship report, The State of Digital Adoption 2024 (SoDA 2024). The report shows that, while digital adoption is a rising priority for enterprises, a lack of best practice is still costing many organizations dearly¹. The research, based on a survey of more than 4,000 executive and employee respondents, found that an inability to correctly and fully utilize technology costs enterprises on average $1.14M a week in lost productivity, with employees wasting 44 working days a year. However, enterprises realize the challenge, with 70% of organizations listing digital adoption as a strategic priority and with investment in digital adoption up 63% year-over-year, according to the study.

Prioritizing digital adoption has shown proven results for enterprises. 6% of respondent organizations have fully embraced all recommended digital adoption best practices, saving on average $4.9M a month in reduced costs. With happier employees and higher ROI, they’re leading the way in the journey towards HyperProductivity.

This success explains why 69% of enterprises say those that don’t embrace digital adoption will be in an unsustainable position by 2028. The cost of doing nothing is clear — with 46% of medium enterprises’ digital investment missing ROI due to lack of uptake, amounting to $13M wasted spend. Many enterprises still lack control over their IT estate, underestimating the number of applications they use by ten to one.

"SoDA 2024 is our most extensive report yet, highlighting the critical juncture at which we stand with global IT spend anticipated to reach $5 trillion and a 13% growth in software spend. This makes optimizing technology investments more crucial than ever," said Ofir Bloch, vice president of strategic positioning at WalkMe. "Digital adoption is now indispensable, especially as artificial intelligence becomes pervasive, affecting every aspect of our business workflows. With 93% of enterprise leaders stressing the need to enhance productivity to stay competitive, fully leveraging digital adoption strategies is essential for addressing emerging challenges."