MUMBAI, INDIA: According to a new survey, 47 per cent of local C-level and other service provider decision makers predict that it will take their companies more than five years to transform. This is not fast enough according to 76 per cent of respondents who believe that the communications industry will be outpaced by other industries.
Amdocs unveiled a new survey conducted for Amdocs by analyst firm IDC showing that service providers in Asia Pacific (APAC) believe they are not transforming fast enough to meet the demands of today’s digital era. These findings tell that 33 per cent of service providers in APAC still do not have a digital strategy in place. While 90 per cent of local respondents highlight the importance of having a chief digital officer (CDO) to lead and drive such a strategy, only 29 per cent have one.
The need for the right digital skills is palpable with 67 per cent respondents in APAC believing that the communications industry has strong technology capabilities but will find it difficult to implement and bring to market digital transformation projects quickly enough.
When asked what factor would most help their companies transform into digital service providers, having the right skills to create and implement digital transformation strategies were ranked first and second; the use of customer experience as a design principle for new products and services was the third most helpful factor. All of these were well ahead of having the necessary financial capital, which ranked sixth.
“The majority of service providers today are actively working to deploy digital technologies to improve their businesses, but this is happening without a unifying top-level vision and strategy. They are also telling us they are struggling to re-align processes and re-train staff at the same time, further delaying real business outcomes,” said Andy Hicks, research director, Telecoms and Networking, EMEA at IDC. “They may be able to keep up with other service providers, but they don't think they can keep up in the broader digital world unless they address gaps in digital strategy, skills and leadership. Our research suggests they will source professional services to bridge some of these gaps.”
“As digital transformation is made up of multiple projects and initiatives, it’s clear from this research that companies in Asia Pacific fear timelines are slipping, and that they have serious concerns as to whether they have enough strategic focus and digital skills to transform fast enough,” said Jatinder Ahuja, head of India and South West Asia business, Amdocs.