A majority of business leaders are worried that their companies are in denial about the need for digital transformation.

A survey of marketing, digital and IT department heads, company directors, developers, IT architects and engineers found that 96% believe such a transformation to be critical to their business.

However 62% said their organisation is in denial about this need – and 86% claimed they have two years to make inroads before suffering financial or competitive consequences.

The survey was conducted by Progress Software.

“Digital technologies are radically transforming business as we know it today and the driving force of change is based on the customer experience,” said Progress digital solutions VP Mark Troester.

“Yet, many organisations continue to resist change.

“There needs to be a rapid awakening and acceptance that organisations must digitally transform to survive - and do it now.”

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A majority of those surveyed - 59% - said they are worried it may already be too late for their firm to make the necessary changes.

The issues highlighted by the survey included cultural resistance alongside a lack of internal alignment and adequate skills.

Government research recently revealed that two-thirds of large businesses in the UK have been targeted by cyber attacks in the past year.

The Cyber Security Breaches Survey found that a quarter of those who suffered an attack did so at least once a month.