90% of enterprises are yet to achieve their digital-first goals with 49% admitting that cyber security is the top most priority for their business, according to a new survey published by Tata Communications.
It also brings to light, 45% of enterprises lost productivity during the crisis due to problems of connectivity and 41% enterprises attribute the shift to digital-first operating models for maintaining market share during the course of the pandemic.
The survey was conducted among business leaders across 750 enterprises in 11 countries and classifies them into three distinct categories as per their digital maturity stage.
Digital Trailblazers: Only 10% enterprises have the most advanced digital operating models, connectivity platforms and strategies ensuring secure and trusted operations. 63% of them attribute revenue growth to their digital-first strategy.
Digital Migrants: 52% of enterprises have limited digitalisation in their business, but still need to improve in several areas of digital capability.
Digital Aspirants: 38% of enterprises are at a nascent stage of digitalising their business and have been unable to achieve growth due to lack of digital maturity.
“A digital-first operating model is a must for enterprises in the new world order. As economies open, trust and security are core to the competitiveness and agility of enterprises seeking growth. The scale of digitalisation will be the new barometer of success for enterprises irrespective of its size or industry,” said A.S Lakshminarayanan, Managing Director and CEO, Tata Communications.
The report identifies gaps and addressal for enterprises in their digital transformation journeys to be in three areas:
- Commit to a digital-first operating model
- Create quality user experiences with a hyperconnected ecosystem
- Central to a digital-first business is security and trust