Listen : Audio version of this article
The top three, most digitally mature countries, are emerging economies with India gaining the highest digital maturity score. Globally, 78% (vis-a-vis India: 91%) report digital transformation should be more widespread throughout their organization. 51% leaders globally, (India: 48%) believe they’ll struggle to meet changing customer demands, while one in three worries they’ll be left behind in five years.
According to the latest Dell Technologies Digital Transformation Index, released today, India is the most digitally mature country in the world. However, businesses in India still have a lot of work to do. Leaders in India are more aware of the need to prioritize digital transformation throughout their organization: 91% of the business leaders believe that digital transformation should be more widespread, compared to 78% globally. Almost half (48%) (51% globally), believe they’ll struggle to meet changing customer demands within five years.
Dell Technologies, in collaboration with Intel and Vanson Bourne, surveyed 4,600 business leaders (director to C-suite) from mid to large-sized companies across the globe to score their organizations’ transformation efforts.
The study revealed that emerging markets are the most digitally mature, with India, Brazil and Thailand topping the global ranking. In contrast, developed markets are slipping behind: Japan, Denmark and France received the lowest digital maturity scores. What’s more, emerging markets are more confident in their ability to ‘disrupt rather than be disrupted’ (53%) compared to just 40% in developed nations.
Ahead of the curve
The DT Index II, builds on the first ever DT Index, launched in 2016. The two-year comparison highlights that there has been steady progress in India. The percentage of Digital Leaders and Digital Adopters has increased in India, whereas globally, there’s been no progress at the top and almost four in 10 (39%) businesses are still spread across the two least digitally mature groups on the benchmark (Digital Laggards and Digital Followers).
“In the near future, every organization will need to be a digital organization, but our research indicates that the majority still have a long way to go,” says Michael Dell, chairman and CEO of Dell Technologies. “Organizations need to modernize their technology to participate in the unprecedented opportunity of digital transformation. The time to act is now.”
Barriers to transformation and confidence
However, these achievements have not been easy. The findings suggest business leaders around the world are on the verge of a confidence crisis, with 91% held back by persistent barriers.
The top five barriers to digital transformation success in India:
- Data privacy and security concerns
- Regulation and legislative changes
- Lack of the right in-house skill sets and expertise
- Information overload
- Weak digital governance and structure
Forty-four percent of business leaders in India believe that their organizations will struggle to prove they’re a trustworthy organization (global: 49%). Almost three in ten (28%) don’t trust their own organization to comply with regulations such as the EU General Data Protection Regulation (32% globally). And 31% don’t trust their organization to protect their customer data (33% globally).
Plans to realize their digital future
Leaders across the globe have reported common priorities and investments to aid future transformation, including an increased focus on workforce, security and IT. In India, 61%are developing in-house digital skills and talent, by teaching all employees how to code for instance, up from 26% in 2016 (Globally: Currently 46%, 27% in 2016).
Top technology investments for the next one-three years in India
2. Internet of Things tech
3. Multi-cloud environment
4. Artificial Intelligence
5. Compute Centric Approach
“Organizations in India have reached a momentous intersection where technologies and business meet together to create a new and improved digital world,” said Rajesh Janey, President and Managing Director- Enterprise, Dell EMC, India. “I am delighted with India’s steady progress towards adopting a digital strategy. Emerging technologies will reshape the way we work and live. Being at the centre of this will deliver manifold benefits to the business. Hence why digital transformation should be the linchpin of any organisation – driving growth and success.”
Most digitally mature countries:
Least digitally mature countries:
In the summer of 2018, independent research company, Vanson Bourne surveyed 4,600 business leaders from mid- to large-size companies across 42 countries/sub-regions to gauge their organizations’ place on the Dell Technologies Digital Transformation Index. Vanson Bourne classified businesses’ digital business efforts by examining their IT strategy, workforce transformation initiatives and perceived performance against a core set of digital business attributes.
Press release by BusinessWireIndia