MUMBAI: About 92 per cent 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 per cent, the ‘Microsoft Asia Digital Transformation Study 2016’ said.
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.
“Digital transformation is not just about digitisation 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 per cent Indian respondents feel that new insights from data could lead to new revenue streams compared to the Asian average of 79 per cent.
In Asia (49 per cent) and India (53 per cent), 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.