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Survey: majority of HK CMOs and CDOs expect disruption in 2019

According to a recent report, A survey of almost two dozen Hong Kong-based CMOs and CDOs across 11 industries revealed that two thirds (68%) believe that their industries will be disrupted within the next 12 months, according to the Hong Kong-based arm of global digital transformation agency Isobar.

The survey was conducted a major event ( the Hong Kong “Disruption and Transformation – Why and How” event), which saw Hong Kong and APAC executives come together to accelerate their transformation agenda using Isobar’s customer-centric approach.

And though budget is the top business challenge, respondents also cited elevating experience design thinking and creative thinking to create value and revenue streams for the current business as important.

Indeed, 56% are focusing their digital transformation efforts on exploring new markets and customers, while a third (28%) are concentrating their efforts on designing new business models. A mere 16% are using their transformation effort on securing current business revenues.

Notably, there is a focus on customer-centric solutions to driving growth was evident in survey findings, which revealed that 41% of CMOs are seeing the most innovation efforts in the area of brand experience. A third (38%) see their innovation efforts in product and services, while a mere 6% said they were looking at improving operational efficiency.

The chief strategy officer at a global agency that delivers digital transformation stated that in order to win in the digital economy, focusing solely on designing and deploying digital strategies and tactics to drive the current business no longer allows companies to address these challenges.

He also pointed to the importance of having a digital transformation strategy and roadmaps to unlock exponential growth and creating meaningful customer experiences by approach starting with experience and working backwards through the different parts of the value chain.

In another report it was noted that is Asia closing digital gap with the West.

The report noted that with the mission to develop advanced technologies, Asian governments usually leave no stone unturned in terms of policy and direction.

Such has been the case in the past with 4G mobile technology and fibre broadband, and more recently with smart manufacturing technologies, the report noted. Fostering digital transformation, however, requires more than deploying new technologies.

Asian leaders aspire to create environments in which businesses and other organisations can leverage a range of assets to achieve far-reaching change through digitisation. Comparing their progress is the objective of the Asian Digital Transformation Index.

According to the white paper, Singapore retained its top spot in the Index in 2018, with Japan and Hong Kong overtaking South Korea to take second and third place.

Other major findings of the Index analysis include the finding that fibre take-up is unsurprisingly high in Hong Kong and Singapore, which have a highly built-up environment on a relatively small land mass.

It was noted that fibre deployment will continue to be prioritised elsewhere in the region, as it underpins the nations’ plans to build out 5G mobile networks over the next five years.

It was also noted that, with regards to human capital and talent, while Singapore outpaces the other Asian economies on this measure, Hong Kong, India, South Korea, Taiwan and Malaysia also boast sizeable pools of technology professionals relative to their overall workforce.

When comparing the ways in which Asia and the West stack up, it was noted that the region’s five high-income economies (one of which is Hong Kong) compare favourably with their western peers in several areas covered by the Index.

The whitepaper concluded by noting that the growing prominence of Asian companies in global markets suggests that their senior managers are as able as their western counterparts to bring about such change. The increasingly favourable digital environments in which they operate ought to give them confidence, as well as the concrete tools, to make transformation a success.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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