Time to worth, measurable enterprise outcomes, industrial flexibility, and innovation are most valued by CEOs in deciding on know-how companions.

SINGAPORE, Jul 17, 2023 – According to the current IDC report Investing for Growth Amidst Uncertainties with Digital Business Transformation, digital transformation (DX) is now a prime company agenda.72% of Asia/Pacific together with Japan (APJ) CEOs say that digital initiatives are long-term enterprise transformation commitments going past the present monetary 12 months, primarily based on knowledge from IDC APJ CEO Sentiment Survey 2023. In exiting the pandemic, CEOs anticipate continued unsure macroeconomic situations in 2023 and past. CEOs’ know-how focus has shifted from effectivity to utilizing tech for sustained development whereas positioning their organizations towards exterior macroeconomic shocks. Digital enterprise transformation is seen as the answer to attain each enterprise resilience and allow development in in the present day’s digital-first market.

“Technology’s role has been elevated from a back-office function to a source of competitive advantage. Unlike past recessions, CEOs are increasing technology budgets despite belt-tightening pressures driven by ongoing recessionary risks,’ says Lawrence Cheok, Associate Research Director, AP Digital Business Strategies, IDC Asia/Pacific. “CEOs are embracing know-how because the enabler for enterprise resilience and development to counter persistent exterior dangers driving volatility, uncertainty, complexity, and ambiguity,” added Cheok.

CEOs are investing in enabling digital business models and using technology to grow their digital share of revenue from 21% in 2023 to 41% by 2028. According to IDC’s FutureScape : Worldwide Digital Business Strategies Predictions – Asia/Pacific (excluding Japan) Implications, by 2027, 80% of APJ organizations will accurately quantify the value of their digital capabilities and assets and significantly improve their market valuation.

About half of the CEOs are adopting scenario-based budgeting and dynamic monthly budget cycles to respond more effectively to unfolding macroeconomic uncertainties while ensuring that technology investments deliver incremental business outcomes along their multi-year transformation journeys. At the same time, CEOs are challenged by the C-suite’s lack of digital know-how, the workforce’s lack of digital skills, line-of-business (LOB) leaders’ lack of trust in technology, and ineffective enterprise-wide change management. These organizational hurdles top the challenges in realizing digital value creation.

“Beyond know-how options, know-how distributors should assist CEOs speed up time to worth, obtain measurable enterprise outcomes, allow industrial flexibility, and catalyze innovation to be perceived as strategic companions of their enterprise transformation journeys,” ends Cheok.

A digital business creates and captures value through digital products, services, and experiences. The ongoing shift toward digital business models marks the next digital transformation era, where organizations use technology to compete, grow digital revenue, and disrupt the marketplace with new digital innovations. IDC’s Asia/Pacific Digital Business Strategies program studies the transformation of organizations in their use of digital technologies to run a viable digital business. This program examines organizations’ maturity, market trends, competitive landscape, and end-user buying behavior from the IT, LOB, and C-suite standpoints. The research looks at the impact of digital businesses on people/skills, processes, and technology, including business priorities, challenges, and technology investments. Technology vendors can expect quantitative data and qualitative insights to identify key areas of growth, position relevant messaging, and inform go-to-market and product strategies.

To learn more about this IDC survey or the research program, contact Lawrence Cheok at lcheok@idc.com or click on HERE. For media queries, please contact Michael de la Cruz at mdelacruz@idc.com or Miguel Carreon at mcarreon@idc.com.

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International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC’s analysis and insight help IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world’s leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDCAP and LinkedIn. Subscribe to the IDC Blog for trade information and insights.

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