Indian businesses are most matured across the globe: Survey
For all those of us who believed that Indian enterprises aren’t really digitally savvy, it is time to think again. A recent research done by Dell Technologies seems to suggest that a majority of Indian companies, who are considered digital leaders, are being driven towards transformation by customer demands with 42% of those polled claiming that they were pressured to change from their own leadership teams while 90% felt threatened by the entrance of new competitors in the digital technology space.
However, on the other end of the spectrum, those surveyed weren’t too excited by the level of digital transformation that their organizations were going through and listed out a variety of factors that contributed to it. The research, conducted jointly by Dell Technologies and Greyhound Research, reached out to 150 organizations to assess what they were doing differently. Some of its findings are listed below:
- Those surveyed reiterated that Disruption is the new Normal with more than 90% of the enterprises reporting that they had experienced it and 26%of them admitting that they really had little clue about how their industry would look like in three years time.
- More than half of those survey reported that customer demands forced them to transform while 42% said they faced pressure from the leadership team in doing so.
- As barriers to progress, those surveyed listed out immature digital culture (33%), lack of budgets and resources (30%), lack of right technologies (32%) as key obstacles while close to half of the companies felt that they really do not measure their digital transformation success.
- Indian companies said the focus on converged infrastrucure and analytics was critical with 62% planning to invest over 30% of their IT budgets in the transformation projects. Investment areas include converged infrastructure (80%), analytics, big data and data processing (78%), ultra high performance computing technologies (82%) and next generation mobile apps (76%). All these investments would happen in the next 12 months, they said.
- A major challenge that Indian enterprises faced related to insufficient IT skills sets with 87% suggesting that there was an ongoing need to invest in reskilling their internal teams to support transformation. However, half of those surveyed rated available training resources internally as fair to average with only less than 10% suggesting that internal skills were excellent to achieve digital transformation.
The Global Outlook
The survey said 78% of the businesses believed that start-ups were in the game as a threat to their organizations, either in the current scenario or in the future, from a specifically technological perspective. Of the total number of enterprises surveyed, 45% felt that they had a fear over their companies getting obsolete within the next three to five years.
Only a small percentage admitted to having completed their digital transformation. While parts of many businesses are thinking and acting digitally, the vast majority (over 75%) believe that digital transformation could be more widespread throughout their organization. Over 52% of the business leaders said they had experienced disruption in their industries over the past three years due to Internet of Things and other innovations.
Given the acute threat of disruption, businesses are starting to escalate a remedy. To advance their digital transformation:
· 73% agree they need to prioritize a centralized technology strategy for their business
· 66% are planning to invest in IT infrastructure and digital skills leadership
· 72% are expanding their software development capabilities
These results derived, were from a research by Vanson Bourne, which included 4,000 business leaders, from mid-size to larger enterprises, across 16 countries and 12 industries. It also included the inputs of 300 leaders from India itself.
Additionally, between a quarter to a third of businesses have created a full digital P&L (36%); are partnering with start-ups to adopt an open innovation model (35%); have spun-off a separate part of the organization or intend to acquire the skills and innovation they need through M&A (28%). Just 17% measure success according to the number of patents they file and nearly half (46%) are integrating digital goals into all department and staff objectives.
With reference to the developments in the country, Rajesh Janey, the President and Managing Director of Dell-EMC India Enterprise, said, “With a vibrant startup ecosystem, keen government focus on digitally transforming India, and a tech-enabled consumer base, it’s not surprising that Indian enterprises have sensed the urgency to transform digitally. While transformation is not pervasive, it is critical for organizations to follow the leaders and adopt practices that can enable them to ride the wave of the fourth Industrial Revolution. India has high potential to lead the world in digital transformation, and at Dell Technologies we are in a unique position to accelerate this progress.”
Alok Ohrie, the President and Managing Director India Commercial for Dell-EMC, said “India is considered among the most digitally mature economies today and credit to the Indian government and India Inc. on driving our country’s digital transformation agenda. Dell Technologies, will collaborate with customers, partners and consumers to drive human progress and create a technology enabled future. With a proactive government, digitally inspired business leaders and an advanced partner ecosystem, India has the required potential to lead the world’s digital transformation journey.”
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