94 percent of Indian organizations are ready to tackle digital disruption in the next five years
CA Technologies (NASDAQ: CA) today released the findings of its “Digital Impact and Readiness Study” with India set to lead the wave of digital disruption in the next five years across Asia Pacific and Japan (APJ). Currently, 73 percent of Indian business and IT leaders surveyed believe that the digital order has already impacted their organizations and the same number agree that their markets have been directly affected due to it. In a study commissioned by CA Technologies, over 900 business and IT leaders representing mid to large organizations across India, Australia, China, Hong Kong, Japan, Malaysia, Singapore, South Korea and Thailand concur that the digital transformation journeys of most organizations have just started. The study shows that only 17 percent of organizations across APJ have fully formed digital transformation strategies. In India, while this figure is higher at 22 percent, but it shows that 78 percent of organizations do not have fully formed digital transformation strategies today.
According to the survey findings, 88 percent consider that they are equipped to tackle the digital disruption in the ensuing three years while indicating strong leadership as a crucial element in contributing to the success of digital transformation. The objectives of the study were to measure the impact of digital disruption in the region and understand how organizations are managing their digital transformation. They agree that the impact of digital disruption will be greater in the next five years. In India, it is a 13 percentage point increase.
“Business and technology leaders need to start creating the organizational foundation for a digital era, where for companies to be built to last, they have to be built to change,” said Sunil Manglore, Managing Director- India, CA Technologies. “India is set to go through a drastic change in the next five years with more organisations embracing digital disruption. Businesses need to display stronger leadership in planning, organizing and executing the digital transformation strategies of their organizations.”
India being one of world’s fastest growing major economies, business and industry leaders sense that the impact of the digital wave hasn’t affected the overall industry yet, and its bearing will be felt in the next five years. However, the dynamic socio-economic conditions are creating a unique window of opportunity for disruptors and next generation of competitors to emerge.
The survey findings also revealed that improving workforce productivity and collaboration, enhancing customer experience and optimizing operational efficiency are the top three priorities for Indian businesses during this period. Other crucial elements such as attracting and retaining workforce, reducing operational costs and creating different business models and/or revenue streams are less significant. Respondents from India do not have confidence that their organizations have strong digital transformation capabilities and values. Indian businesses are placing greater focus on improving customer experience, which is contrasting when compared to the APJ respondents who are likely to concentrate on operational elements.
“Software is now the centre of all businesses. This study reinforces the need for technology to be part of a holistic business strategy that starts from the boardroom and progresses through every facet of an organisation, rather than considered as an afterthought. Ensuring organisations are working in an agile and collaborative environment sets them up for success today and into the future,” concluded Manglore.