Singapore CxOs mean business on going digital; it’s not ‘shadow IT’, it’s just business
Singapore CxOs mean
business on going digital; it’s not ‘shadow
IT’, it’s just business
Singapore, March 28,
Fujitsu has commissioned new research that has found that “line of
business” (LOB) leaders in Singapore expect digital technologies to change
what they do in future and they placed high priority on technology-related
skills when asked what they will need in future to succeed in their roles.
The 500 Singaporean
leaders from Marketing, Human Resource, Finance and Operations who took part in
this research shared their views on digital and how it impacts their work. With
the exception of Finance leaders seeing ‘flexible work’ as the trend having the greatest impact in 2017, the
majority of LOB leaders from other roles cited ‘changing
While the type of digital
technologies they view as important are role specific, the benefits available from
these technologies are viewed as consistent across all roles: real-time access
to accurate information, achieving goals more quickly or efficiently, and
spending less time on manual tasks.
The top challenges listed
by LOB leaders suggest that their organizations have yet to take full advantage
of these benefits available from digital technologies. Marketing LOB
respondents said they want to provide better customer experiences and react
more rapidly to the competition, for instance, while Finance LOB leaders were
concerned about understanding market swings and keeping pace with always-on
access to data. Report generation was one of the top challenges for Operations
leaders, and talent management a focus for LOB respondents in HR.
One in two Singaporean
business leaders say their organization has already begun an organization-wide
digital transformation program. When asked how they rate their organization’s overall strategy regarding technology as it relates to
their role, less than 40% think that the strategies are mature. A number of LOB
leaders also felt that IT department has not listened to them, saying that the “IT department doesn’t understand my
needs as a business user”. The key frustrations felt by
business leaders about technology were connectivity, manual processes,
understanding needs, and supporting or enabling the use of new technologies.
With these frustrations,
it is not surprising that nearly 20% of all LOBs in Singapore already bypass
the IT department to make technology purchases at their own discretion, with a
further 20% in full control via the IT department. LOB leaders across all roles
expect to take charge of their technology needs in the next 24 months, either
independently, or in collaboration with IT.
“Singaporean LOB leaders welcome digital transformation
and want to see more of the benefits from digital technology implementations in
coming months, even going so far as to take a more active role on IT decisions.
It is imperative for the CIOs and the IT department to collaborate more closely
with LOBs to ensure that they are not only maximizing value for LOBs with the
digital solutions they want, but also fulfilling organizational goals at the
same time,” said Wong Heng Chew, Country President,
Fujitsu Singapore. “Fujitsu is committed to determining
the real-world concerns from LOBs in order to provide Singapore customers with
the right human-centric solutions and ultimately drive successful digital
transformation outcomes in this new hyperconnected era.”
Key highlights from the
· All LOB respondents (Marketing 49%, Finance
33%, Operations 48% and HR 32%) are aware of the need to transform their
approaches over time. Changing customer behaviors was identified as a
significant trend for 2017. Work flexibility and digital business models are
also key macro trends for 2017.
· LOBs in Singapore are familiar with
emerging technologies and realize the need to embrace them in future.
Payments-related technologies, including online and contactless payments as
well as mobile wallets, and location-based services were the emerging
technologies predicted to have the most impact on LOBs in Singapore. Artificial
intelligence (AI) and Internet of Things (IoT) platforms were also considered significant.
Singapore’s business leaders think digital is the way of business today and in
future. They know what it can do for them personally and their organisations –
and they like it. Notably, they will increasingly have influence and control
over IT investments and outcomes. This is true for both core technologies and
systems as it is for emerging tech,” said Trevor
Clarke, Asia Pacific Research Director, TRA. “This
isn’t ‘shadow IT’. It’s just business and IT leaders need to step up and collaborate.
That won’t be easy, but communication and cultural change is an imperative for
Tech Research Asia (TRA) was
commissioned by Fujitsu to undertake research on line of business (LoB) leaders’ views regarding digital technology and how it will
influence the way they work. Results are based on an online survey was carried
out between October 14 and October 17, 2016 with a total of 500 executives
responding. These respondents work in organizations with more than 100
employees and in sales & marketing; operations, human resource; and finance
& accounting. A representative spread of industries was captured in the
survey sample and 42% of organizations had more than 500 employees. The full
report can be found here. (Registration required)