Global IT research advisory firm International Data Corporation (IDC) recently hosted its yearly event CIO Summit that unites IT industry leaders and prominent CIOs across the country.
The Summit helps out top business leaders plan the necessary steps to progress their digital strategy to deliver solutions that disrupt markets and create new revenue streams. Topics that were covered during the event includes artificial intelligence for more automation, customer centricity, monetizing data, transitioning traditional business into digital business, and the needed changes to the culture and skillsets in the workforce.
With the theme, “The Digital Determination Playbook”, the event aims to help over 100 regional CIOs participants for taking their organization from being Digitally Distraught to Digitally Determined.
According to IDC, In the Philippines to be Digitally Determined requires a ‘blueprint’ which consists of 4 key elements—Unified Enterprise Strategy, Commitment to Organizational and Cultural Changes, Long-term Investment Plan and a single digital platform.
In a recent study of IDC, 37-percent of enterprises in the Philippines are considered Digitally Determined. These businesses have an integrated strategy where continuous enterprise-wide digital innovation is in place, transforming their respective markets and re-imagining the future through innovative business models and digitally enabled products and services.
Furthermore, the study found out that more than 60-percent of the local enterprises in the country are defined as Digitally Distraught. These are the less mature in their digital transformation journey.
IDC Philippines Head of Operations Randy Roberts explains the strategies to move businesses towards becoming Digitally Determined Enterprise.
“Organizations in the Philippines are progressing in their digital transformation maturity where the percentage of enterprises in the Digitally Determined category is on par with the rest of the Asia Pacific region. The transition from Distraught to Determined is a difficult one as it relies on the scaling of digital projects within the company which requires investment and consistent execution,” said Roberts.
For over 50 years, IDC has provided strategic insights to enable clients achieve their key business objectives. IDC is a subsidiary of IDG, the world’s leading technology media, research, and events company.