65% of Indian Businesses have seen a positive outcome from digital transformation, finds DBS and FT
Chandigarh, (Aditi) – DBS and Financial Times (FT) Longitude surveyed over 1,225 senior executives from Commercial and Finance/Treasury teams of organisations across 22 markets on their digital transformation journey. The survey sheds light on corporate ambitions, successes, and lingering concerns, while revealing that Indian companies have reported the highest impact from digitisation at 65%.
The survey reaffirms that India has firmly entered the digital age with the determination of an economic powerhouse. India’s drive for digitalisation is embodied by the government’s Digital India program and the rapid rise in internet users to 700 million. The findings revealed that the most important goals of digital transformation are boosting efficiency and enriching customer experience (40% respectively). This is followed by improving collaboration across functions and teams (33%).
The research found that for Indian businesses, cultural elements that most support digital transformation are collaboration across functions (47%) and diversity in transformation teams (38%). Sales and marketing (38%) and supply chain/procurement (21%) emerged as critical areas of an organisation that urgently need digital transformation. The survey further enlightens the growing role that treasury and finance play in enabling change and innovation.