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Thailand to be the Most Digitally Disrupted Market in Asia Pacific and Japan

95 percent of respondents in Thailand indicated that their organization has been impacted today by digital disruption

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CA Technologies Research Finds Thailand to be the Most Digitally Disrupted Market in Asia Pacific and Japan
97 percent of Thai respondents state their organizations are equipped to be competitive but only seven percent have fully digitalized their organizations

CA Technologies (NASDAQ:CA) today revealed results of an Asia Pacific & Japan (APJ) study that showed that Thailand is the most digitally disrupted market in the region.

With 95 percent of business and IT leaders in the country stating that the market has been impacted today, as compared to 80 percent average across the region.

In addition, 95 percent of respondents indicated that their organization has been impacted today by digital disruption and almost all of them (98 percent) said that their job has been changed by it.

Thailand ranked the highest in APJ for these two aspects as well, scoring well above the APJ average of 78 percent.

The study also showed that there is a high level of confidence – amongst the 97 percent respondents surveyed – that their organizations are equipped to be competitive in the next three to five years.

Despite the positive outlook, businesses have yet to capitalize on the potential of digital transformation today.

Only 44% of the respondents surveyed, the lowest percentage in the region, indicated that their organizations have digital transformation projects launched with clear corporate goals.

Furthermore, only seven percent of the respondents shared that they are fully digitalized their organization and another 17 percent have fully-formed digital transformation strategies.

“Digital transformation can disrupt the competition when it is approached holistically and used to create new products and services, improve customer service and even build different business models or revenue streams,” said Nick Lim, vice president, ASEAN & Greater China, CA Technologies.

“To succeed in today’s digital economy, business and IT leaders have to be bold in harnessing disruptive technologies such as artificial intelligence, automation, data analytics and microservices, while ensuring that everyone in the organization is aligned and working collaboratively towards a common goal.”

Mismatched Pressures and Priorities for Digital Transformation

In a new world that is defined by digital engagement, the competitive differentiation for organizations, and even governments, is increasingly determined by their ability to transform themselves digitally and build software into their business strategies.

The survey found that 1) meeting of changing customer expectations, (2) fast evolving economic conditions, and (3) using digital transformation as a new edge in winning against traditional competitors were the biggest pressures for digital transformation in the region.

This finding mirrors the top three business priorities that organizations in Thailand are focused on solving today, namely optimizing operational efficiency, reducing operational costs and improving workforce collaboration.

The discrepancy between business priorities and the digital transformation drivers is particularly evident when it comes to customer experience. Although changing customer expectations is highlighted as the top pressure for digital transformation, improving customer experience is ranked fifth out of the seven priorities.

Organizations in Thailand More Confident About Their IT Capabilities

While organizations in Thailand still have ways to go in terms of digital transformation readiness, one of the areas that Thai business and IT leaders are faring better than their APJ peers is their confidence in their organization’s IT capabilities to support digital transformation.

In fact, one in two respondents (51 percent) stated that their organization has clearly laid out a roadmap and role that technology plays in the company’s digital transformation vision, which is the highest percentage across the region.

“To stay competitive in the digital era, organizations need to be Built to Change. By building software into the business DNA, organizations will be able to deliver an enhanced customer experience; with insights and tools to shape and predict new customer demands, create new services and business models. The Modern Software Factory blueprint helps businesses leverage software to achieve their digital transformation goals and win in the market,” added Lim.

About the CA Technologies Asia Pacific & Japan Digital Transformation Impact and Readiness Study

CA Technologies commissioned and completed a survey of 900 business and IT leaders across nine markets in the APJ region – Australia, China, Hong Kong, India, Japan, Malaysia, Singapore, South Korea and Thailand – in late 2017. The objectives of the study were to measure the impact of digital disruption in the region and understand how organizations are managing their digital transformation.

All survey respondents came from mid- to large-sized organizations with more than 250 employees, with almost half (47 percent) of those interviewed representing large organizations with more than 1,000 staff. All respondents were decision makers – 74 percent for business decisions and 26 percent for IT decisions. All surveyed leaders were also involved in digital transformation initiatives in their organizations, with 74 percent being key decisions makers in digital transformation projects.

 

Download the complete report here

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Ecommerce

Pakorn Peetathawatchai, President, The Stock Exchange of Thailand (SET)

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Pakorn Peetathawatchai, President, The Stock Exchange of Thailand (SET)

What measures has SET taken to support listed companies’ compliance with ESG standards?
PAKORN PEETATHAWATCHAI:

PAKORN: When we first began promoting ESG-compliant investments, we were met with little interest. We attributed this to a lack of clear data to showcase the economic benefits of ESG investment, and perhaps limited clarity as to what constitutes a sustainable or ESG-compliant investment. The launch of the THSI list and, subsequently, the SETTHSI Index, was designed to address this. Our most recent data, comparing returns for the SETTHSI Index with the broader SET and SET100 indices from April 2020 to April 2021, underscores the economic benefits of these investments: the group compliant with ESG standards outperformed the other two indices on every data point. 

As of May 2021 Thailand was home to CG and ESG assets under management totalling BT54.8bn ($1.7bn) across 50 funds – up from 23 funds in 2019. Meanwhile, of the BT187.1bn ($5.9bn) raised in green, social and sustainability bonds since 2018, BT136.4bn ($4.3bn) was raised in 2020 – 83% from the government and the remainder from development banks and private players. This rising demand, in a move to manage risk and generate returns, has been complemented by growing supply and promotion: supply from ESG-compliant businesses aiming for resiliency and sustainable growth, as well as promotion from regulators highlighting investment opportunities with good CG and SD practices. Indeed, the pandemic has been a catalyst in shifting the view of ESG compliance from a luxury to a requirement in the new normal.

In what ways can enhanced standard-setting and regulatory mechanisms overcome the remaining barriers to improved ESG performance?

PAKORN: A multi-stakeholder approach is crucial for enhanced ESG performance – not only in Thailand, but around much of the globe. This can also help to address the standout incumbent challenge: access to reliable, wide-ranging ESG data. For example, the 2020 update to the 56-1 One Report established clear ESG standards and triggered online and offline capacity-building programmes to support listed firms’ compliance. SET is developing an ESG data platform with a structured template to promote the availability of comparable data, maximise value added from corporate sustainability disclosures, and foster collaboration between the business value chain and stakeholders. This is expected to support Thai companies along their ESG journey in an economically sustainable way, result in a greater number of sustainability-focused products and services, drive sustainable investing in the Thai investment community and ultimately “make the capital market work for everyone”, as outlined in the SET’s vision.
 

 

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Asean

China Sustains Huge Ecommerce Development Investment Flows into ASEAN

What Asia Investment Research showed us that there were China outbound investments into several ASEAN markets, led by Singapore, and followed by Indonesia, Malaysia, Thailand, and the Philippines. Collectively, these markets saw circa 30 investments n Q3, or about 15 percent of total Chinese outbound volume. 

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ASEAN Inbound Investments from China show strong trends in developing digital trade infrastructure.

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