Yesterday Forrester published its 2019 predictions. One of the key priorities for 2019 is the evolution of digital transformation projects from ambitious to pragmatic. But looking at the most active blockchain sectors, many of these are in fact digital transformation projects. Supply chain, trade finance and insurance blockchain initiatives aim to share digitalized paperwork across organizations.
In 2018 according to Forrester more than 50% of digital transformation efforts stalled. Often the challenge was for CIOs to get their organisations to see and act differently. But many were also not ready as the result of underestimating the work required, the need for new back office technology, a lack of cohesion, and concern over the impact on quarterly performance.
“In 2019, digital transformation moves from super-wide enterprise efforts to a
pragmatic, surgical portfolio view of digital investments with the goal of making
incremental and necessary changes to operations,” the report states.
One of the initiatives the report highlights is the automation of processes to improve margins. And for now many enterprise blockchain projects fall in this bucket.
“The CIO sits at the center of a storm, waging a three-front battle: addressing aging
systems and long-standing data issues; driving a business strategy that harnesses
the value of a wide range of new, powerful technologies; and maximizing the
value and security of today’s environment.”
The report singles out blockchain for advertising. Forrester’s estimate is that by 2021 money spent on invalid ad impressions will reach $10.9 billion. The online advertising sector shows poor performance as a result of a lack of transparency, hidden fees and high margins. Major advertisers are experimenting with blockchain to improve transparency and target fraudulent bots.
Forrester doesn’t envision impression level reporting will happen in 2019 but believes the initiatives are a step in the right direction. They anticipate duplicated expenditure on intermediaries and hidden fees will be exposed in 2019. And some adtech players won’t survive the scrutiny.