Firms are Moving Towards Digital Transformation at a Fast Pace

Thanks to the pandemic, companies across the globe have been able to accomplish a lot in a few months which would have otherwise taken a few years. As per the ‘Digital Transformation Index’ (DT Index) of Dell Technologies, this year, 94.7% of firms in India have increased the pace of their digital transformation programmes. Also, 92.3% of the firms are revisiting their business models. Globally, 79.7% of the firms have accelerated their DT programmes, and 79.3% of the firms are revising their business models.

The survey was conducted with the help of 4,300 business directors from more than 18 countries. The survey results of this year have witnessed the first rise in the count of digital leaders to 12.3% in India and 5.7%,  globally. The count of digital adopters in India has increased to 55.3%.

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The pandemic situation has made various organisations understand the significance of having a flexible IT infrastructure so that employees can adapt to the ever-changing business environment with ease. Due to the drastic change in the approach of firms, there has been a prominent rise in digital leaders and adopters. Since this era is all about data, continuous investment towards digital technologies is a must to overcome the barriers. 

No doubt, COVID-19 has accelerated digitalisation world-wise; however, constant digital transformation is testing 97% of Indian firms. The foremost barriers to the success of digital transformation in India include concerns related to cybersecurity and data privacy, not being able to extract insights via information/data overload, and the dearth of economic growth. The key investment areas in India for the upcoming years would include digital workspace, privacy, cybersecurity, a multi-cloud environment, and digital services (on-demand).

For any clarifications/feedback on the topic, please contact the writer at bhavana.pn@cleartax.in

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