Thursday, 05 November 2020 20:44

IDC sees 65% of firms in Asia-Pac region digitising operations by 2023

IDC sees 65% of firms in Asia-Pac region digitising operations by 2023 Pixabay

The technology analyst firm IDC has predicted that more than 65% of firms in the Asia-Pacfic region will digitise operations between 2020 and 2023.

This would result in expenditure of US$1.2 trillion (A$1.66 trillion), the company said in a statement issued on Wednesday as part of its annual predictionevent, IDC FutureScape - Future Enterprise: Building Resiliency to Thrive in the Next Normal.

“As organisations accelerate their race to recovery, we will see three waves to market dominance in 2021 (and beyond)," said Sandra Ng, group vice-president for ICT Research at IDC Asia/Pacific.

"Organisations will leverage technologies to adapt for survival, accelerate for growth and reimagine to lead.

"APAC is already leading the race with digital core investments to strengthen organizational foundation and digital innovation initiatives to overcome COVID-19 pandemic exposed gaps as well as acceleration projects that introduce new business/operating models and help to gain market shares."

idc asiapac

She offered the following predictions for how organisations would adapt to survive, accelerate to grow, and/or reimagine to lead:

  • "Leadership matures: By 2023, 70% of leaders in A2000 (top 2000 APAC-based) organisations will have shifted their management orientation from processes to outcomes, establishing more agile, innovative, and empathetic operating models;
  • "A digital-first approach in employee engagements: While "digital first" prevails in every experience, 60% of enterprises will invest heavily in digitising employee experience (EX) in 2021, transforming the relationship between employers and employees;
  • "Increasing digitisation to deliver customer empathy at scale: By 2021, 65% of organisations will have shifted to digital-first through automated operations and contactless experiences, as physical interactions become an amenity of the past;
  • "Acceleration requires digital resiliency: In 2022, enterprises focused on digital resiliency adapt to disruption and extend services in response to new conditions 50% faster than ones fixated on restoring existing business resiliency levels;
  • "Risk management and growth acceleration can (and should) co-exist: By 2022, driven by board level agenda, 50% of A2000 companies will formalise human oversight of AI-based decision automation to combat distrust of auto generated recommendations and reputational risk;
  • "Growth will rapidly shape permanent work models: By 2021, 25% of organisations will leverage employee productivity software to monitor and improve the digital workflows of their full-time, work-from-home employees.
  • "Business model re-invention is the crown jewel: By 2021, at least 50% of organisations will accelerate innovation to support business and operating model reinvention, fast-tracking transformation programs, to future proof their businesses; and
  • "The rise of digital and connected extended ecosystems: By 2025, driven by volatile global conditions, 75% of business leaders will leverage digital platforms and ecosystem capabilities to adapt their value chains to new markets, industries, and ecosystems."

Ng added: “A key pillar to becoming a future enterprise in a post-COVID outbreak era is digital resiliency. We now know that resiliency as we knew it pre-COVID is not good enough.

"We need a new benchmark to future-proof us from forward crisis and disruptions, be it the next infection cycle or the next economic crisis.

"Digital resiliency is the ability of an organisation to rapidly adapt to business disruptions, leverage digital capabilities to maintain continuous business operations, and quickly adjust to take advantage of changed conditions."

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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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