Business leaders in Singapore are close to achieving digital maturity but still feel that there is a need to strengthen strategic planning at the organisation level to reap the full benefits of digital transformation, a survey by ServiceNow reveals.
The survey polled 516 top CIOs across 12 different countries from 24 top industries to get their opinions around digital transformation in the workplace.
Respondents surveyed in Singapore span 20 industries comprising IT, cybersecurity, finance, manufacturing, HR and legal.
More than two thirds (76%) of CIOs in Singapore strongly believe in the value of digitised workflows in order to foster better collaboration and communication across various business functions (91%), and in improving overall organisational productivity (80%) and efficiency (76%).
However, only half of CIOs believing that their own organisations have successfully integrated technology across business functions for greater productivity.
Top limitations cited in adopting these new technological practices include possession of inadequate technology (48% compared to a 41% global average), a shortage of skills (46%, same as global average) and ineffective collaboration among departments (46% compared to 37% global average).
“CIOs need to ensure that digital culture starts from the top level and resonates down through the entire workforce,” said Mitch Young, SVP and GM of Asia Pacific and Japan at ServiceNow.
Many CIOs in Singapore believe that close collaboration with C-suite executives is needed in order to drive change within an organisation.
Among respondents, 76% said they work closely with their respective CHRO (Chief Human Resource Officer) and CTO (Chief Talent Officer) to successfully implement reformative talent strategies. Another 59% have partnered up with their COO (Chief Operation Officer) to action more streamlined workflows.
“In order to truly achieve a successful transformation journey, there must be a robust plan and unparalleled communication at the organisation level,” Young said.
A majority of CIO respondents in Singapore (53%) say that 60% of an organisation’s workflow is digitised today. In the next three years, the number is projected to grow to 89%.