Singapore CIOs are well ahead in maturity and adoption level of digital transformation with prompt investments to support top-line growth while driving productivity and innovation developments to meet demands.
Findings of NCS SURF Emerging Technologies Maturity Index 2014, a research commissioned by NCS (conducted by IDC) to evaluate Singapore companies’ adoption of emerging technologies in Big Data, Digital Engagement and Smart Computing (M2M).
Digital transformation – how it is managed and applied is becoming increasingly important to how business succeed in today’s economy.
A recent survey from NCS’ SURF Emerging Technologies Maturity Index 2014 polled 240 senior information technology (IT) executives found that a majority (75%) of their organisations are well ahead of technology investments, citing Digital Transformation as an extremely important or important contributor of their companies’ worldwide strategy.
Singapore businesses acknowledged the benefits of using multiple technology assets.
Half of respondents (50%) expressed that they are proactively assigning resources to emerging technology and investing in technology-led transformation initiatives over the next 24-36 months to drive business growth.
With the adoption of emerging technologies, organisations strive to improve profitability, operational efficiency and meet customers’ requirements.
The senior IT executives specified that there are ongoing and scheduled investments in technology assets related to cloud (87%), mobility (88%), big data and analytics (79%), social (86%) and situational awareness (84%).
However, in terms of having the right resources and structure for digital transformation initiatives, less than 1 in 5 businesses have initiatives and resources in co-ordination and less than 1 in 10 have established structured innovation groups.
In addition, price (23%) and complexity (27%) are also mentioned as the main hindrances for slow adoption.
An increasing number of organisations (50.4%) recognised the importance of future investment in Situational related Intelligence and Big data & analytics (42.5%) assets to derive timely and intriguing insights to cope with varying business situations.
These insights can enhance enterprise responsiveness through the ability to make more informed decisions, to effectively manage changing business situations, mitigate risks, exploit opportunities, and attain the best outcomes.