SG bumped off as top APAC market with greatest digital agility progress
Four in 10 organisations in SG are still lagging in digital agility.
Singapore has been bumped off by Australia as the top market in APAC with the greatest progress in digital agility or the ability to adapt to business disruption by leveraging digital capability, a study commissioned by software vendor, Workday revealed.
According to the study, four in 10 organisations in Singapore are still lagging in digital agility despite having the chance to accelerate technology adoption during the pandemic.
Workday said the reason for the slow digital transformation amongst some organisations in Singapore is their fear of failure and cross-departmental collaboration.
Six in 10 of these organisations also cited difficulty in choosing the right technology solutions that can help drive growth in their business as a factor for their slow digital adoption.
To narrow agility gaps, Workday said 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.”
Doing so also requires chief financial officers (CFOs), chief information officers (CIOs), and chief human resources officers (CHROs) to collaborate on cross-functional digital transformation initiatives, integrate digital talent management, and HR and finance processes.
“Leveraging digital agility can offer competitive advantages but this is only possible if organisations rethink their approach to closing digital agility gaps through technology and alignment of functional business requirements across the C-Suite,” said Workday.