Facts About India Inc On Its Digital Transformations
Hari V S Kollipara
Helping MSMEs by smoothing their business process for faster and economic growth
Although 92% of India Inc. believes that digital transformation is the future, only 37% of respondents in India have achieved or are on their way to achieving the desired outcomes of digital transformation. Overall, of the four pillars of digital transformation, people-first approaches are being adopted by organizations in India at 36% followed by optimizing operations at 26%. This trend seems to be unique to selected Asia markets.
Those 4 pillars are
1.?????Employee Empowerment
2.?????Operations Optimization
3.?????Customers Engagement
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4.?????Real-time Data Operations
India Inc. is divided on whether it is the CEO, the CTO, or a Chief Digital Officer that should drive digital transformation at the organizational level. While some believe that leadership is an accelerator for digitization, others see it as a potential barrier.
Access to the best technology does not guarantee success in digital transformation. The right mix of talent is essential to lead and execute a successful transformation. Therefore, it is not surprising to see corporate leadership cited as both an accelerator and a barrier to digital transformation.
CEOs are driving the digital transformation strategy in India’s organizations today but more respondents felt that Chief Digital Officers (CDOs) are the future drivers of digital transformation in the country. This is good news! The fact that data is being recognized as a driver of digital transformation is a positive development. However, it's important to remember that data should be viewed as part of the Chief Digital Officer's portfolio, and not as a standalone function. This will help ensure that data is used effectively to drive transformation.
As the digital age challenges the traditional organizational structure, these leaders of digital transformation must not only launch the organization on its digital trajectory but also help it fundamentally evolve. Those leaders that succeed, will truly have earned their place in the already-crowded C-suite. This is a great accomplishment that will help the organization succeed in the long term.
Chief Operating Officer @ NSL Infratech | Certified Independent Director and Executive Coach
2 年Well said. Digitisation of simplified solutions will accelerate the growth of the organisation As digital platforms provide real time data enabling timely decisions , which enhances productivity and timeliness . MSME must catch up along with big corporates to be future relevant .
FCA, MFM, START UP & MSME Mentor, ESG Practitioner , Qualified Independent Director -IICA , Aravinda and Associates, Ex PwC ,
2 年Digitalisation benefits should be grabbed by MSME and by the Indian Inc which helps them to be more transparent which in turn helps them in getting more funding and helps in compliances . The productivity can be improved as the manhours can be more effectively used due to digitalisation.