According to the report, 54 per cent respondents said building digital skill sets is a major challenge for organisations, highlighting the lack of digital skill set available.
Transforming from a low-risk organisation to one that rewards experimentation (43 per cent) and lack of change management (43 per cent) were other barriers highlighted by the respondents.
This showcases the turbulence and resistance to change associated with digital transformation, the report added.
"...more than half of all respondents surveyed, rank focus on digital skillset as the most important factor in successful transformation, followed by senior leadership commitment and change management, implying the need for a conducive organisational culture," the report said.
The research identified three clusters of respondents based on the business objectives behind their digital transformation initiatives -- Visionaries (22 per cent), Explorers (50 per cent) and Watchers (28 per cent).
While Watchers and Explorers are primarily focusing on emerging technologies like Artificial Intelligence (AI), Blockchain and 3D printing for digital transformation initiatives, Visionaries are not only looking at emerging technologies, but are also focusing strongly on core areas such as mainframe and ERP modernisation, the report said.
Also, building in-house capabilities was on the list of 76 per cent of Visionaries, who were keen on acquiring digital native firms, to quickly gain the digital skills that 71 per cent of the Visionaries believed were lacking in-house.
Thereby, showcasing the increasing trend towards acquisitions and development of a sustainable ecosystem. Comparatively, the proportion of Explorers and Watchers looking at the acquisition and ecosystem options was negligible, the report said.
"Navigating the digital disruption requires companies to drive a holistic approach to transformation and foster a digital culture that brings together leadership commitment and a renewed approach to skill building," Infosys Chief Operating Officer Pravin Rao said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)