India leads in business impact of digital transformation: Survey
Hyderabad, Nov 8 (IANS) India leads the world in the digital transformation business impact scorecard, according to a global survey conducted by CA Technologies with Coleman Parkes.
It reveals that firms in India are seeing the greatest business impact from their digital transformation investments.
Sunil Manglore, Managing Director, CA Technologies India, on Tuesday released India results of the global survey while addressing media through video conference from Mumbai.
The findings were based on the Digital Transformation Business Impact Scorecard (BIS), a global ranking of countries and industries across 14 key performance indicators (KPIs) critical for digital transformation success.
India ranks first on the list for the BIS. With a score of 79 (out of 100),the impact driven from digital initiatives in India is higher than the global BIS average score of 53 and Asia Pacific and Japan (APJ) score of 56.
Conducted in May and June 2016, the survey covered 1,770 senior business and IT executives from large enterprises, across 21 countries and 10 industry sectors.
A total of 799 respondents were from APJ area, including 78 in India.
“India is at the cusp of a major revolution, as we see digital technologies being at the center of business strategy for leading businesses.A Our survey results are a testimony to a strong correlation between business performance and smarter technologies that underpin digital transformations,” said Manglore.
The survey found a strong correlation between businesses adopting digital transformation and their business performance.
However, despite leading the digital transformation initiatives, only 46 percent of Indian decision makers believe they are disrupting their respective industries with advanced digital initiatives. This ranks India at the bottom of the list amongst the countries in APJ.
Manglore said Indian businesses were seeing the greatest improvement (55 percent) in generating new revenues as a result of digital transformation.
He underlined the need for Indian companies to collaborate with a strategic partner and ensure adoption of digital technologies and practices that helps them grow their business revenues while enhancing customer satisfaction and retention.
According to the survey, as many as 84 percent of Indian businesses were seeing moderate to significant improvements in their ability to differentiate from their competition through digital transformation
Almost all India-based businesses (97 percent) showed moderate to significant improvements in customer experience post digital transformation
Indian businesses were seeing (35 percent) improvement in time-to-decision and time-to-act on new opportunities (business agility) post digital transformation.
They showed the greatest gain (56 percent) in terms of impact on employee productivity as a result of digital transformation.
From a vertical sector perspective, the top 5 industries in APJ were telecom (BIS score of 45), public sector (45), banking & financial services (41), retail (40) and healthcare (37).