Thirty-seven percent of organisations in Singapore are still lagging in digital agility despite increasing their technology adoption, according to the IDC-Workday Digital Agility Index Asia/Pacific 2022.
For the majority of such companies, technology adoption is often driven by functional requirements and business needs such as for e-commerce, safety measures, and remote work during the pandemic.
The report also reveals that organisations in Singapore lack data-driven insights to drive digital agility. Less than half (36%) of them are supported by an integrated HR and finance platform with predictive analytics.
Only 37% of the surveyed finance leaders also say their organisations ensure resiliency by using automated detection of financial disruption based on predictive capabilities.
Moreover, 83% of the HR respondents claim their organisations lack a holistic talent strategy supported by data analytics to identify training needs and growth areas as well as drive employee engagement.
Just 32% of organisations in Singapore have enterprise talent systems and policies to maximise talent attraction and retention. This is a critical area requiring attention as it enables organisations to successfully execute digital initiatives and become more agile in capturing new opportunities.
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“With agility now a key source of competitive advantage in today’s digital-first economy, organisations supported by data-driven processes and imbued with digital skills and work cultures are best positioned to thrive in today’s changing world,” says Sandeep Sharma, president for Asia at Workday.
Lawrence Cheok, associate research director of Digital Transformation at IDC, adds: “The unprecedented disruptions brought on by the COVID-19 pandemic forced many organisations to fast-track their digital transformations. It is not surprising to see increased technology adoption driving agility improvement.
“However, true digital agility is about capitalising on change in order to thrive. To do so, organisations need to emulate agility leaders and make the leap from tactical to strategic enterprise-wide transformations in their culture, people, processes, and technology implementation.”
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Source: IDC July 2022 Infobrief sponsored by Workday- Thriving in Uncertainty: How Digital Agility Maximises Business Success
