Accelerating Digital Transformation to Drive Uncommon Growth
With the backdrop of the COVID-19 crisis, there is more pressure for digital transformation to perform than ever. Altimeter, a Prophet company surveyed more than 600 key executives about how they are pursuing digital transformation and the impact of the pandemic (see our global report “The 2020 State of Digital Transformation”), including 100 in Southeast Asia (SEA) across Singapore, Indonesia and Vietnam. The study reveals interesting differences between digital transformation effort and sentiment in SEA and the rest of the world.
While the rest of the world is becoming more risk-averse, SEA expresses optimism about the future outlook – in fact, a significantly higher number of companies have accelerated their digital transformation initiatives and are focused on growth.
There are five key takeaways regarding digital transformation in Southeast Asia:
- Top drivers of digital transformation in SEA is more growth-oriented, focusing on improving efficiency to go after new markets and customers while adopting more agile and flexible operation.
- SEA experiences less financial impact due to COVID-19 than the rest of the world, and they have accelerated investments in digital transformation, especially in marketing operations.
- Budget cuts are less of a digital transformation challenge to SEA than rigid infrastructure, data quality, ROI articulation as well as digital literacy and expertise within the organization.
- The focus of digital transformation investments in SEA leans towards connectivity, social and consumer platforms followed by AI & Analytics.
- There is stronger leadership, culture and optimism of digital transformation in SEA thanks to the consistent and visible efforts driven by top executive in C-Suites, especially CEO & Board of Directors, and CDO
What are the opportunities and challenges for companies to accelerate digital transformation in Southeast Asia? Download the full report to learn more.
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