TCS Study Finds 88% of C-Suites in Asia Pacific will Increase the Use of Digital Solutions to Drive Sustainability in Next 3 Years
Nine in every 10 (88%) of C-Suites in the Asia-Pacific region will increase the use of digital solutions to drive sustainability in next three years, according to the 2022 Digital Sustainability Index report from Tata Consultancy Services.
The report is based on a survey of 200 C-level executives in Asia Pacific, and highlights three major obstacles that are inhibiting their pursuit of sustainability objectives through digital solutions — limited budget, lack of in-house knowledge and challenges in establishing a traditional ROI.
Respondents are from companies with an annual turnover ranging from US$151 million to over $10 billion across 12 sectors and 10 countries — Australia, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand, and Vietnam.
The study also found that 87% agree that Digital Sustainability can deliver a competitive advantage and is a central value of their companies.
Most of the respondents (80%) believe their corporate reputation in the market has improved as a result of digital sustainability initiatives implemented.
“The construct of digital sustainability provides a valuable, holistic framework for corporate leaders in their growth and transformation strategies,” said Girish Ramachandran, president of TCS Asia Pacific.
Ramachandran said the Digital Sustainability Index will help organisations across the Asia Pacific understand how they can create, use, and regulate digital transformation, innovation, and resources to create future-fit, connected businesses that can deliver value for society today and in the future.
“Never has the impact of technology on the community and sustainable innovation been more relevant and more necessary,” said Ilan Oshri, director of the Centre of Digital Enterprise at the University of Auckland Business School in New Zealand.
“Together with TCS, we are confident the Digital Sustainability Index can help key decision makers in every company gain a better understanding of how technology can positively impact business outcomes and deliver longer term value for all stakeholders,” said Oshri.