Digital transformation has reached a critical juncture, said a recent CA Technologies study. While firms understand the advantages clearly, many are failing to transform their infrastructure quickly.
According to the CA Technologies Asia Pacific & Japan Digital Transformation Impact and Readiness Study, which examined 900 business and IT leaders across the region in late 2017, 80% of respondents agreed that digital disruption is impacting their industries.
The survey found that fast-evolving economic conditions, meeting of changing customer expectations and using digital transformation as a new edge in winning against traditional competitors were the most significant pressures for digital transformation in the region.
However, only slightly more than half (51%) of surveyed organizations have digital transformation projects with clear corporate goals, such as increasing productivity and boosting revenue. Only 17% surveyed have "fully-formed digital transformation strategies," and only 9% said they are looking at entirely digitizing their entire organization.
The results show misalignment of business priorities. The survey showed that priorities such as creating different business models and revenue streams; developing new products and services; improving customer experience; and attracting and retaining workforce were less critical.
The discrepancy, according to a press release, is largest between business priorities and the pressure to change when it comes to customer experience. "Although changing customer expectations is highlighted as one of the main drivers for digital transformation, improving customer experience has been ranked sixth out of the seven priorities," it noted.
"In an era where brands are defined by the digital experiences they offer, it is imperative that companies put customers at the heart of their business," Martin Mackay, President, and General manager, Asia Pacific & Japan, CA Technologies said.
"When software is built into their business strategies, organizations will be able to deliver an enhanced customer experience; and have the insights and tools to shape and predict new customer demands, create new services, revenue streams, and business models."
"To thrive in the application economy, organizations need to move IT, especially software, from a supporting role to a central enabler by reinventing their software development and delivery processes so that they can consistently develop high-quality applications that can enhance customer experience and deliver business value at scale. In short, organizations need to build a Modern Software Factory where agility, automation, insights, and security work together to power their digital transformation," MacKay added.