Singapore CIOs Are Well Ahead In Maturity and Adoption Level of Digital Transformation with Prompt Investments
Singapore, May 23, 2014
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.
“CIOs need to work closely with business stakeholders to increase work space productivity and collaboration. They should take advantage of real time intelligence to enhance service delivery and operational excellence,” said Lai Weng Yew, Vice President of Business Application Services of NCS.
“As the leading ICT provider, NCS is well positioned to advise and assist its clients in the construction of operational platforms. These would tap into a variety of real time data sources seamlessly and securely for situational intelligence.”
The Way Forward With Key Technology Led Transformation Imperatives:
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.
“We are ready to help our clients deliver their next generation class of systems. These would be woven together by ubiquitous and secure networks, integrating sensors, structured and unstructured data to enhance situational awareness. This class of operational systems optimises collaboration and accelerates decision-making and responses to a rapidly changing environment,” said Lai.
About NCS SURF Emerging Technologies Maturity Index 2014
The NCS SURF Emerging Technologies Maturity Index study is based on a survey of 240 companies and government agencies from Singapore to understand their maturity levels in adoption of emerging technologies. Commissioned by NCS and conducted by IDC Asia/Pacific, the index takes into consideration alignment of strategy and vision, organisation and execution, measurement, data and technology, as well as the current penetration rate of each emerging technology in Singapore.
Respondents include COO/ CEO, CIOs, heads of IT departments, Senior IT Directors, Senior IT Managers overseeing local and regional IT initiatives from companies with company revenue between SGD 70 million to 1 billon.
Industries surveyed include government, financial institutions & insurance, healthcare & pharmaceuticals, transport/ logistics, education, discrete manufacturing, process manufacturing, energy & utilities, media & communications and retail & wholesale.
The study is part of NCS’ efforts in tracking the maturity levels of companies to enable Solutions for an Urbanised Future (SURF). SURF is NCS's vision of the smart, sustainable city through emerging technologies.
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NCS is a member of the Singtel Group and the leading information, communications and technology (ICT) service provider with presence in over 20 countries. NCS delivers end-to-end ICT solutions to help governments and enterprises realise business value through digital transformation and the innovative use of technology. Its unique delivery capabilities include consulting, applications development, systems integration, outsourcing, infrastructure management and portal solutions.