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Digital Transformation: Indian Organizations Most Digitally Mature Globally

Most companies in India are in advanced stages of digital transformation as compared to their compatriots globally.

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Adeesh Sharma
New Update
Digital transactions are easier to track and audit, making it easier for the authorities to curb illegal transactions. This ensures that you never lose track of money or checks owing to human error on your part or on the part of the bank.

78% of businesses believe digital start-ups will pose a threat to their organization, either now or in the future, according to new research from Dell Technologies . Almost half (45%) of global businesses surveyed fear they may become obsolete in the next three to five years due to competition from digital-born start-ups.

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Only a small minority of surveyed companies have almost completed their digital transformation. While parts of many businesses are thinking and acting digitally, the vast majority (73%) admits digital transformation could be more widespread throughout their organization. Some companies are feeling badly bruised by the pace of change. More than half (52%) of business leaders have experienced significant disruption in their industries over the past three years as a result of digital technologies and the Internet of Everything, and 48% of global businesses don’t know what their industry will look like in three years’ time.

Given the acute threat of disruption, businesses are starting to escalate a remedy. To advance their digital transformation:

73% agree they need to prioritize a centralized technology strategy for their business

·         66% are planning to invest in IT infrastructure and digital skills leadership

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·         72% are expanding their software development capabilities

Additionally, between a quarter to a third of businesses have created a full digital P&L (36%); are partnering with start-ups to adopt an open innovation model (35%); have spun-off a separate part of the organization or intend to acquire the skills and innovation they need through M&A (28%). Just 17% measure success according to the number of patents they file and nearly half (46%) are integrating digital goals into all department and staff objectives.

The above findings result from an independent survey by Vanson Bourne of 4,000 business leaders -- from mid-size to large enterprises -- across 16 countries and 12 industries, 300 from India.

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