Progress Survey Finds Businesses Have Under Two Years to Make Digital Inroads Before Suffering Financial and Competitive Losses

SINGAPORE July
21, 2016—Progress (NASDAQ: PRGS) today announced the results of its recent
global survey, “Are Businesses Really Digitally Transforming or Living in
Digital Denial?” The survey, conducted in Q1 2016 by Loudhouse, the specialist research division of Octopus Group, aimed to
better understand how business leaders view digital transformation and learn
their plans to address its challenges. Respondents included individuals from 10
countries including Singapore, Australia, United Kingdom and the United States.

While most businesses
in Singapore and other markets around the world recognize the inherent benefits
of “going digital,” the majority of respondents are hitting roadblocks—lack of
internal alignment, lack of adequate skills and plenty of cultural resistance.
Coupled with technology constraints and an overall inability to execute, the
result is a growing state of anxiety about embarking on digital transformation,
with some fearing it may already be too late.

Key findings from
Singapore revealed:

•       All of the organizations view digital
transformation as important or critical. 49% of respondents in Singapore and
62% globally say their organization is in denial about the need to transform
digitally.

•       92% say they have two years to make
inroads before suffering financial or competitive consequences (49% say a year
or less); 43% are worried they may already be too late.

•       69% say the main driver for digital
transformation is optimizing customer experiences and engagement; 71% say
customer engagement is a #1 priority for the next 12 months and 57% plan to
invest in building applications in the next year.

•       69% feel IT is more likely to be the
final decision maker/budget holder for digital initiatives; 75% say better
alignment of IT and marketing is needed to deliver on digital transformation
efforts.

•       88% of respondents in Singapore say lack
of digital skills is a barrier to providing improved customer experience
through digital transformation; more than half cite lack of leadership and
cultural resistance as key barriers. Other top challenges listed by global
respondents included high reliance on IT and lack of a centralized digital
strategy.

“Digital disruption is
now part of our daily existence as it has changed how we live, communicate and
work. Yet, many organizations in Singapore continue to deny that digital
technologies have already radically transformed the business landscape and
struggle to embark on the transformation journey, consequently risking their
survival,” said Benjamin Wong, Managing Director, Asia, Progress. “This survey
brings to light the reality of today’s digital transformation challenges. By
providing business leaders with tangible data points, we hope they will better
understand the key aspects to focus on in order to succeed in the changing
business landscape.”

Survey respondents
included a mix of more than 700 global C-Level/VP decision makers; heads of
marketing, digital and IT; as well as developers, IT architects, directors,
engineers and line of business managers. These individuals represent
organizations ranging from SMBs through large global enterprises. For more
information and to read the full survey findings,click
here.