May 2018 smartGOV_eMagazine_May2018 - Page 21

14% today. Business leaders expect to see more than 40% improvements in those key areas by 2020, with the biggest jump expected in productivity, customer advocacy as well as profit margin. Unlocking the Economic Impact of Digital Transformation in Asia Pacific conducted with 1,560 respondents in 15 markets: 15 Asia Pacific markets were involved: Australia, China, Hong Kong, Indonesia, India, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam. Business and IT leaders from organizations with more than 250 staff were polled. Industries polled included education, financial services, government, healthcare, manufacturing and retail. Respondents are decision makers involved in shaping their organizations’ digital strategy. Digital Leaders in India to Gain Lion’s Share of Economic Opportunities The study indicates that while 90% of organizations in India are in the midst of their digital transformation India is clearly on the digital transformation fast track. Within the next four years, it is estimated that nearly 60% of India’s GDP will have a strong connection to the digital transformation trends.” the rapid impact and widespread disruption that digital transformation is having on traditional business models. The study identified five key benefits from digital transformation. According to the research findings, organizations are seeing significant and tangible improvements from their digital transformation efforts across these benefits in the range of 11% to Anant Maheshwari, President, Microsoft India. journey, only 7% in the entire region can be classified as Leaders. These are organizations that have full or progressing digital transformation strategies, with at least a third of their revenue derived from digital products and services. In addition, these companies are seeing between 20 – 30% improvements in benefits across various business areas IDC study commissioned by Microsoft predicts that approximately 60% of India’s GDP will be derived from digital products or services by 2021 By 2021, digital transformation is expected to add 1.0% CAGR GDP growth annually Digital transformation has increased productivity, customer advocacy, and cost reduction, revenue from new products & services as well as profit margin. These benefits will also improve by at least 40% in three years. Leaders in digital transformation reap double the benefits compared to Followers. from their initiatives.The study indicates that Leaders experience double the benefits of Followers, and these improvements will be more pronounced by 2020. Almost half of Leaders (48%) have a full digital transformation strategy in place. The Study identified key differences between Leaders and Followers, which contribute to the improvements 21 | May 2018 | www.smartgovernance.in