The other half of India heads of business believe they’ll disrupt rather than be disrupted – according to the Dell Technologies Digital Transformation Index
Just 12% of Indian businesses are Digital Leaders, according to the Dell Technologies Digital Transformation Index (the DT Index). The DT Index, which was completed in collaboration with Intel, maps digital transformation progress of mid to large-sized companies and examines the digital hopes and fears of business leaders. The study reveals that 48% of India heads of business believe their organization will struggle to meet changing customer demands within just five years and a quarter (25%) fear they’ll be left behind (although this is better than the situation in China, where 38% of business leaders are worried they’ll be left behind).
The DT Index’s calculations are based on companies’ perceived performance in the following areas: delivering against the core attributes of a digital business, their existing IT strategy, workforce transformation strategy and planned investments.
While there has been minimal growth in the Digital Leadership group, the DT Index has tracked movement across other groups. For instance, 34% of businesses now are categorized as Digital Adopters (a 5% rise on 2016). These companies have advanced digital plans and innovations in place to power their transformation. The percentage of Digital Followers (a digitally immature group) has also dropped, from 21% in 2016, to 14% in 2018.
However, too many companies are either coasting in the Digital Evaluator group or stuck in the bottom two groups, meaning they’re either moving too slowly or don’t even have a digital plan in place. According to the research, 93% of Indian businesses are facing major impediments to digital transformation today.
The top five barriers to digital transformation are Data privacy and cybersecurity concerns; Regulation or legislative changes; Lack of the right in-house skill sets and expertise; Information overload and Weak digital governance and structure.
These barriers are hampering digital transformation efforts. For instance, 91% of Indian business leaders believe that digital transformation should be more widespread throughout the organization (compared to 84% in 2016).
“It’s an exciting time to be in business. We’re at a crucial intersection – where technology, business and mankind meet to create a better, more connected world,” said Rajesh Janey, President and MD – India Enterprise, Dell EMC. “However, only technology-centered organizations will reap the rewards offered by a digital business model, including the ability to monetize the data, identify actionable insights, move quickly and automate everything to delight customers. This is why digital transformation needs to be a number one priority.”
A small but significant number of businesses are even planning to experiment with nascent technologies. 37% will be investing in blockchain, 31% in quantum computing and 42% in VR/AR.