About 92 percent of business leaders in India believe that every organisation needs to be a ‘digital organisation’ to enable growth for their business, a study has revealed. This is ahead of the Asian average of 80 percent, the ‘Microsoft Asia Digital Transformation Study 2016’ said. Also Read - Ola to offer free oxygen concentrators to the needy
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Indian executives also led their Asian colleagues in placing Cloud Computing as an important element of their digital transformation strategy, it said. The study polled business leaders working in mid-sized and large organisations from 13 Asia Pacific countries. Among Indian respondents, there was a high number CEOs, followed by Chief Digital Officers. Also Read - OnePlus India partners American Express for cashback deals, EMI offers and more
“Digital transformation is not just about digitization of processes it is about business leaders re-envisioning existing business models and embracing a different way of bringing together people, data, and processes to create value for their customers through systems of intelligence,” Microsoft India President Anant Maheshwari said.
He said, today, cloud powered technologies such as IoT, AI and advanced data analytics are creating limitless possibilities in transforming the way people work, live and play.
“This is ushering in societal and economic changes at an unprecedented pace and organisations need to embrace this transformation to stay relevant,” he added.
Further, the study said, 87 percent Indian respondents feel that new insights from data could lead to new revenue streams compared to the Asian average of 79 percent. In Asia (49 percent) and India (53 percent), respondents indicated that their organisation had specific digital transformation strategy in place, and were progressing in their journey to add digital elements, the study said.
It found that security, lack of digitally skilled workforce, lack of supportive government policies and Information and Communications Technology (ICT) infrastructure, uncertain economic environment and lack of leadership were ranked as the top five barriers to an organisation’s digital transformation journey in India.