By Edd K. Usman
A study conducted by tech titan Microsoft on digital transformation in the Philippines showed that 86 percent of business leaders are one in saying that business success depends on going digital.
Microsoft Philippines chief marketing officer (CMO) and chief operating officer (COO) Cian O’Neill revealed the findings on Thursday, Feb. 23, in Makati City.
O’Neill said the survey covered 1,494 business leaders in 13 markets from Asia, including 111 respondents from the Philippines. A total of 86 percent also agreed that new data insights can pave the way for new revenue streams.
As shown by the study, business leaders have pointed to an urgent need for embracing the 4th Industrial Revolution, 86 percent of them believed “they need to transform to a digital business to enable future growth and that new data insights can lead to new revenue streams for their organizations.”
The poll of the 111 business leaders who are involved in shaping digital strategy indicated the Philippines has yet to gain inroads in its digital journey. This is because only 32 percent of respondents in the Philippines have full strategy; 43 percent, progressing; and 25 percent, limited or no strategy at all.
Asked about the gap between the top priority for digital business (86 percent) and the fact that 25 percent have limited or no plans, O’Neill said it all boils down to the leadership team.
“There is also a need for the leaders to have the right skill and competency because they’re primary reason why their companies are embracing digital,” said O’Neill. “That is where the gap is, that is where the opportunity is. People need to get up and go.”
If he were to give a recommendation on how to speed up digital transformation of businesses in the Philippines, O’Neill said leaders need to be curious about what digital transformation and digital business mean.
“If you are curious about those questions, it will form the right level of thinking. It will form the right level of collaboration (in your organization),” he said.
In short, O’Neill said business leaders need the right mindset in order to achieve success in digital. “They need to drive curiosity, drive innovation through skill and competencies. If they ask those questions, I think that is the starting point for success,” he said.
Organizations that do not embrace digital transformation in step with others will be left behind eating the digital dust, he pointed out. “We urge organizations of all sizes to digitally transform themselves amidst the changing demands externally and internally, to stay relevant,” said O’Neill.