APAC companies prioritise cultural change, technology modernisation to accelerate digital transformation
08 Jul 2020
Red Hat Inc, the world’s leading provider of open source solutions has announced a commissioned study results by Harvard Business Review Analytic Services, on behalf of Red Hat, exploring Asia Pacific’s (APAC) transformation and innovation trajectory against a global backdrop.
The study, titled ‘Understanding APAC’s Success in Digital Transformation’, surveyed 143 business executives from APAC from various industries including financial services, IT and manufacturing sectors.
The study findings state that Asian firms have latched on to digital transformation as a strategy, not just for growth but also survival, according to a statement.
The APAC difference in transformation effectiveness translates into important business benefits for the region’s firms, including helping them bring new products and services to market faster than their global counterparts.
The report’s highlights include 95 per cent of APAC executives said digital transformation gained in importance over the past 18 months; 80 per cent of APAC business leaders ranked cultural change and technology modernisation of equal importance for digital transformation; and 40 per cent of APAC executives are quickly developing and delivering new applications to market.
According to APAC executives, cultural change stood out as one of the three building blocks of modernisation, along with technology and business processes thus creating significant impediments to transformation success.
The study also revealed that companies looking to digitally transform successfully will need to support their cultural change initiatives with efforts to modernise their infrastructure and application architecture.