As the saying goes, the future belongs to the fast.

But organizations are struggling to innovate and reduce time to market while still keeping IT systems running — often in a cost-constrained environment. The reality is that IT needs to maintain and nurture the systems that run the business while also preparing to innovate and adopt the tools and practices that will allow a company to thrive.

“Agile, flexible IT is the key to a successful digital transformation. That means the right mix of on-premises and public cloud, and managed infrastructure,” says Rick Einhorn, worldwide vice president, data center consulting, part of HPE Pointnext, Hewlett Packard Enterprise’s newly branded services arm.

The digital imperative has gained urgency. HPE studies show that more than 67 percent of technology leaders surveyed at Forbes Global 2000 enterprises expected their top initiatives to be related to digital transformation. By 2018, these companies will have digital transformation at the core of their IT strategy.

Indeed, the average lifespan of a company listed in the Standard & Poor’s 500 index has decreased by more than 50 years in the last century, from 67 years in the 1920s to just 15 years today, according to Professor Richard Foster, executive in residence at the Yale Entrepreneurial Institute. “There is no question that companies need to use technology to protect and enhance their position in the market. Without a plan to adopt and use flexible IT to innovate, they will get left behind,” adds Einhorn.

“Offering customers new, improved experiences requires new ways of thinking aligned with flexible, fast and resilient infrastructure,” says Flynn Maloy, vice president of services marketing for HPE. For example, at sports stadiums around the world, attendees can use their smartphones to buy snacks and merchandise — and even check the length of the line to the bathroom. “This app opens up new revenue streams,” says Maloy.

HPE Pointnext is advising clients on how to embrace digital technology as the catalyst for positive change. “With limited resources, companies are wondering how to prepare for the new generation of apps and data that will move their business forward while meeting the needs of the business today,” Maloy adds.

Read all https://www.technologyreview.com/s/603990/a-field-guide-to-digital-transformation/?utm_source=The+Herd+Locker&utm_campaign=70b1b6bf36-RSS_EMAIL_CAMPAIGN_DIGITALTRANSFORMATION&utm_medium=email&utm_term=0_9bed869fdd-70b1b6bf36-164829161

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