The success of outcomes from digital transformation projects hinges on six factors, namely leadership, people, agility, business integration, ecosystem and value derived from data according to the latest Fujitsu Future Insights Global Digital Transformation Survey Report 2018. It outlines the perspectives of 1,535 C-level executives and decision-makers at enterprises of various sizes across 16 countries including Singapore, Indonesia, Australia, Japan, Korea and Thailand.
The survey found that the in-house grasp of digital capabilities among staff and leadership played a critical role in the success of digital transformation, with respondents involved in each stage - planning, trial, implementation, and post-implementation - citing that a 'lack of skilled staff' stunted progress. The problem can be rectified with internal investments towards raising the digital index while on the external side, a company that is not digital-first can work with a technology partner
Secondary factors slowing down each phase of digital transformation included the absence of the required funds, undefined return on investment (ROI), weak leadership, resistance to change, and cybersecurity risks.
All secondary concerns, except cybersecurity risks, are a spillover factor linked to 'lack of skilled staff', with the survey finding that on the flip side companies with skilled staff are adept at building the business case that shows ROI, which in turn helps to raise or allocate necessary funds, and helps define the benefits to the organization that lower the resistance to change.
Companies that lead in digital transformation can be categorised by five verticals namely finance, retail, transport, manufacturing, and healthcare. While transforming marketing was the main focus of the retail industry, the remaining verticals undertook transformation for core business services.
In building a business case for digital transformation, all sectors cited reasons such as reducing long-term costs, responding to disruption, and growing revenue. Respondents from the healthcare, retail, and manufacturing industries additionally cited 'innovation' as a factor in the investment.
