Businesses need to start thinking about how to futureproof both their infrastructure as well as their workforce, as every organization is transforming into a technology-driven one.
By 2030, we are expected to enter an era of human-machine partnerships, and every organization will need to be a technology organization. Therefore, businesses need to start thinking of how to futureproof both their infrastructure as well as their workforce.
According to Dell Technologies’ Digital Transformation (DT) Index II that examines the state of digital transformation in Asia Pacific, Japan and Greater China, close to half of companies in the region were concerned about meeting their customers’ demands in the next five years. In fact, a significant proportion of them are also worried that their organization might be left behind in the digital future.
Clearly, digital transformation has become a prerequisite for all businesses, large and small. With emerging technologies reshaping the way we live, work and conduct business. While being surveyed for DT Index II, business leaders in the region revealed that they are focusing on innovation to differentiate from competition and meet changing customer demands.
- Tempering digital transformation with design thinking
- Impact of smart manufacturing in Asia Pacific
- Technology and the changing role of CFOs
- Smart postal service for a smart nation
While there is no one-size-fits-all approach to help organizations adapt to a fast-changing world, one thing remains certain: organizations must start to act now while a huge opportunity remains in play. Prioritizing people and developing a robust digital strategy and processes are steps in the right direction.
The findings from the study indicated that business leaders in the region believed that the top three enablers for digital transformation are:
- Data-driven strategy – The goal for businesses is not to amass as much data as possible, but rather, build a data-centric architecture capable of storing, cataloguing, processing, and applying useful data to add value to the business.
Strategic data assets, when paired with the right analytics models and IT infrastructure, can significantly enhance business intelligence and decision-making capabilities. This can also pave the way for the workplace adoption of many frontier technologies – Internet of Things, Artificial Intelligence, Machine Learning – among others. On this front, businesses in the region are going down the right path in terms of leveraging new levels of connectivity and emerging technologies to unlock the power of data and fuel business growth.
- Security – Cybersecurity and privacy risks stand out as top concerns for both businesses and customers. Organisations face the challenge of providing customers with a smooth digital experience at multiple touchpoints while ensuring all data is kept safe. The increase in the number and severity of data breaches in the past year alone has become a cause of concern for many customers. This has prompted customers to demand greater levels of transparency and accountability from organisations when it comes to protecting their customers’ privacy.
Clearly, data access management and end-point security are key investment areas of a robust enterprise defence. By addressing concerns from the business and their customers, companies will be able to significantly improve their business outlook.
- Digital talent – Companies can explore implementing internal policies such as employee upskilling and increased access to innovative tools to combat this problem. A recent PwC report points out that only 50% of staff are satisfied with the available technology at the workplace – proving a need for companies to provide employees with more digital and training resources.
Organizations must create greater opportunities for their employees to develop the technical skills that will lead to fostering a culture of innovation, and closer collaboration between IT and the business.
By equipping employees with digital know-how, organizations can be more prepared to keep up with the pace of digital transformation. In the age of imminent change and disruption, strategic investments in talent and technology will set a strong foundation for a more resilient, confident, and future-proof organization.