By Anneliese Schulz, VP- Asia, Software AG
Headquartered in Germany, Software AG proffers the modern software platform-driven IT architecture that delivers speed & agility needed to enable digital real-time enterprise.
Digital transformation has been one of the biggest trends across the globe in 2015 and Asia is set to be on the forefront of this digital wave in 2016. With 8.6 billion connected devices and a strong digital infrastructure, most enterprises in the region are already implementing digital initiatives so as to transform their business and in turn their nation, into smart economies.Digitalization in indeed here and it’s happening across every industry in Asia – from banking, manufacturing to retail and more. With the evolving business landscape in Asia, more and more enterprises are moving towards adopting new technologies such as data analytics, IoT and behavioral analytics to remain profitable and stay ahead of the competition.
Is Digitalization Really Necessary?
As enterprises rush headlong towards a digital future, there is a growing consensus that the blueprint for digitalization needs to be subjected to continuous digital evolution and proactive customization. Enterprises need to develop digital agendas in line with their business objectives and operational requirements, carefully calibrating strategies to ensure optimal digital success. With legacy systems relegated to providing back office efficiencies and dated programs lacking the flexibility to fully exploit voluminous data, enterprises need to evolve digitally by stripping off their stiff corset of standard software and start adopting personalized, multifunctional platforms instead. Against the backdrop of data expansion and the proliferation of mobile usage and broadband connectivity in the region, enterprises ought to fashion robust, tailored digital solutions by working with the right partners and commit to a process of continuous innovation.
Achieving Success through Co-Innovation
Harnessing an ecosystem that is fueled by a free exchange of ideas and unbridled innovation is the cornerstone of digitalization. Increased collaboration between technology providers, software vendors and enterprises will not only empower businesses with opportunities to tap on a wealth of expertise and revenue, but will also help to develop a robust digitalization roadmap, in line with the rapidly evolving business landscape in Asia. A key thrust in the blueprint for collaboration is developing a digitalization stratagem that includes an organization’s digital strategy, business objectives and models, as well as the appropriate strategy for apps, IoT and cloud computing. This roadmap will provide enterprises with a snapshot of their future digital capabilities and new IT structure.
The route to digital transformation might start with something as simple as designing business processes or analyzing customer data that a company has collected. As such, there is no clear sequence here: Companies sometimes want to discover the starting point with their IT and business teams and the IT service provider stands by their side as a software expert, while the other times, the technology vendor chooses starting point themselves that is most in line with the business goal.
Most importantly, enterprises must focus on planning, realizing and later autonomously developing the minimum of innovation needed. However, there must be constant communication between technology providers and enterprises, with both parties following the digitalization roadmap as previously set out. In the long run, these agile methods give the team a certain leeway to familiarize themselves with the digital processes on their own. In the face of growing digitalization, firms in the region must commit themselves to a continuous process of reinvention. The typical process involves developing digital strategies, business models, as well as the appropriate strategy for IoT and cloud computing, through the lens of digital transformation.
Time to Move Away from Off-the-Shelf Technology!
In order to navigate the whirlwind of digitalization purposefully, adopting standard digital solutions no longer suffices. While employing the typical out of the box/off the shelf technology may seem like an easier way to embrace digitalization, it won’t help the businesses stand out in the crowd. To stay ahead in the digital game, what enterprises need are tailored technology solutions that are in line with their business needs and goals. With the customized solutions, business models become more flexible and agile. This can be highly beneficial in the long run with the constantly changing business parameters.
It is not about software packages anymore, but rather about flexible, changeable, individual applications that are customized for specific needs. The ability for businesses to coalesce multiple platforms and other functions in modular core components that can be implemented and expanded individually is the key for unlocking the potential of emerging technology. Such flexibility enables companies to remain competitive while focusing immediately on known weak points and expanding the platform incrementally over the long term.
Is Asia Ready to be a Frontrunner in Digital Evolution?
In the emerging Asian landscape, the opportunities are immense and enterprises must act quickly to capitalize on them by choosing the right business-technology mix. With almost 50 percent of Asian enterprises still at a nascent stage of digital transformation, factors such as employing the right technology and working with strategic partners in the region could be very crucial for enterprises to succeed in their digital journey.
Digital business is not just a one-off process of replacing the old with the new. It is rather a continuous process of harnessing technology to enhance every aspect of an organization – reshaping and redefining businesses from the ground up. The adoption of tailored technology solutions bolstered by co-innovations vis-à-vis technology vendors would give enterprises a competitive edge over other players as well as position them as frontrunners in the digital revolution landscape.