“As economies open, trust and security are core to the competitiveness and agility of enterprises seeking growth. The scale of digitalisation will be the new barometer of success for enterprises irrespective of the size or industry.”
A digital-first operating model is a must for enterprises in the new world order, says AS Lakshminarayanan, MD & CEO, Tata Communications. “As economies open, trust and security are core to the competitiveness and agility of enterprises seeking growth. The scale of digitalisation will be the new barometer of success for enterprises irrespective of the size or industry.”
Recently, Tata Communications unveiled its “Leading in a Digital-First World; Enabling Success with the Right Mindset, Ecosystem and Trust” report which finds 90% of enterprises are yet to achieve their digital-first goals with 49% admitting that cyber security is the top most priority for their business. It also brings to light, 45% of enterprises lost productivity during the crisis due to problems of connectivity and 41% enterprises attribute the shift to digital-first operating models for maintaining market share during the course of the pandemic. The survey was conducted among business leaders across 750 enterprises in 11 countries and classifies them into three distinct categories as per their digital maturity stage.
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Digital Trailblazers: Only 10% enterprises have the most advanced digital operating models, connectivity platforms and strategies ensuring secure and trusted operations, while 63% attribute revenue growth to their digital-first strategy.
Digital Migrants: About 52% of enterprises have limited digitalisation in their business, but still need to improve in several areas of digital capability.
Digital Aspirants: Around 38% of enterprises are at a nascent stage of digitalising their business, unable to achieve growth due to lack of digital maturity.
The report states the current shift to digital-first operating models is a defining moment in the evolution of businesses and rethinking the new world. A digital-first strategy enables secure, connected and digital experiences. The sooner organisations start to accelerate their digital transformation journeys up the digital maturity curve, more likely they are to empower themselves for the digital era.