Naritas Finance

..



.

SME Business News

Benchmarking competencies for digital performance

  • Written by AGNES ODWYER


New Economist Intelligent Unit Study Highlights Lack of Digital Competencies as Key Barrier to Success for Global Businesses

  • 87% of APAC senior business and government leaders say digital competencies are either very or extremely important to achieving their organisational goals, according to a new Economist Intelligent Unit (EIU) survey, commissioned by Riverbed Technology.
  • However, notable digital-competency gaps exist. 61% of APAC respondents say their organisations are struggling to achieve important goals because they lack key digital competencies. An even higher percentage (67%) say these gaps have negatively impacted user experience.
  • IT departments need to evolve in order to keep pace with digital transformation. 78% of global high-performing organisations say their top digital competency for achieving goals is modernisation and transformation of IT infrastructure.

 

SYDNEY, MAY 1, 2019— Digital competencies have become vital to achieving business goals, according to new research by the Economist Intelligence Unit (EIU). In Benchmarking competencies for digital performance, commissioned by Riverbed, 87% of Asia Pacific respondents see digital competencies as being either very or extremely important in achieving, among other things, revenue growth, service quality, mission delivery, profit growth/cost reduction, user experience and customer satisfaction.

The study is based on a survey of more than 500 senior business and government leaders across North America, EMEA and APAC, focused on assessing nine behaviours, skills and abilities that help organisations improve their digital performance and, ultimately, achieve their objectives. Accompanying the study is a digital competency assessment tool, which enables users to benchmark their organisation’s competencies and performance against all survey respondents. The tool can be accessed at https://digitalcompetency.economist.com/.

The survey uncovers a shared awareness among businesses that digital transformation is necessary to achieve their goals and remain competitive. Yet, 61% of APAC organisations say they are struggling to achieve these important goals because they lack digital competencies, which is higher than organisations in North America (54%) and EMEA (56%). In particular, 67% of APAC respondents say that their digital-competency gaps have negatively affected user experience, which explains why almost half of respondents say they need to significantly improve digital experience management.

The central importance that companies place on improved digital competency comes despite the fact that some firms are yet to achieve meaningful results. Over 41% of APAC organisations surveyed report only neutral or no measurable benefits from their digital strategies.

In terms of overcoming this capability gap, the IT function plays a pivotal role. Businesses are aware that IT must be agile, as 57% cite IT infrastructure modernisation and transformation as their top digital competency for achieving their goals. In addition, enabling greater communication and collaboration between IT and the rest of the organisation (where digital competencies may be scarce) can significantly improve digital performance and user experience.

Globally, high performers believe a continual focus is also vital, with fully 57% of them committed to improving all digital competencies, compared with 44% of all APAC respondents. Unlike other respondents, high performers also use a wider approach to developing digital competencies, including establishing a cross-functional digital competency centre of excellence and/or appointing a Chief Digital Officer (CDO).

Robert Powell, Editorial Director of EIU Thought Leadership (Americas), says: “The study shows a clear consensus among respondents that improving digital competency is vital for boosting organisational performance, even if some are not yet witnessing the results. Nevertheless, among the highest performing, the lessons are clear—do not hesitate, encourage internal collaboration, and, even if you feel ahead of your competition, never stop looking over your shoulder.”

Keith Buckley, Vice President, ANZ and ASEAN at Riverbed Technology says: “The survey results echo what we’re hearing from businesses and government leaders across the region every day: there’s a sense of urgency around addressing digital-competency gaps to fully deliver on their digital transformation efforts. The findings reinforce that leading organizations can remain a step ahead of their competitors - and maximize digital performance - by prioritizing investments in tools to measure, monitor, and improve the end-user experience as well as in IT infrastructure modernization.” 

About Riverbed

Riverbed®, The Digital Performance Company™, is united in our purpose of Advancing the Human Experience in the Digital World.  Behind every digital experience is a human one, and Riverbed enables organizations to measure digital experiences and maximise digital performance so they can deliver better and more powerful human experiences— for customers, employees, partners, patients, and citizens. Riverbed’s Digital Performance Platform includes a combination of Digital Experience Management and Next-Generation Infrastructure solutions that ensure superior digital and user experiences, provides new levels of operational agility and accelerates business outcomes. Riverbed’s 30,000+ customers include 100% of the Forbes Global 100. Learn more at riverbed.com

 

Riverbed and any Riverbed product or service name or logo used herein are trademarks of Riverbed Technology, Inc. All other trademarks used herein belong to their respective owners.

 

About The Economist Intelligence Unit

The EIU is the thought leadership, research and analysis division of The Economist Group and the world leader in global business intelligence for executives. We uncover novel and forward-looking perspectives with access to over 650 expert analysts and editors across 200 countries worldwide. More information can be found on www.eiuperspectives.economist.com. Follow us on Twitter, LinkedIn, and Facebook

Connect with Riverbed

Business Daily Media Business Development

Bahrain Property Show 2018: How does it reflect the real estate market development in Bahrain

It is no secret that the Arabian Peninsula and the Gulf Cooperation Council (GCC) countries are currently going through a lot of pivotal changes. Such changes do not include economic or po...

News Company - avatar News Company

Di Jones real estate recognises high achievers

Di Jones celebrated its outstanding performers on Saturday (24 February 2018) evening at the Di Jones Real Estate Annual Awards.                               The black-tie Gala Dinner s...

Helen Hull - avatar Helen Hull

Five Reasons Melbourne Rules

If you are traveling in Australia and have left Melbourne off your destination list, then you are going to want to reconsider. Many people consider Melbourne to the best city in the world...

News Feature Team - avatar News Feature Team

Making Friends During Your Campsite Stay

Part of the excitement of vacation is meeting people who you would never otherwise encounter. Staying at a campsite isn’t just about taking in nature. It’s also about sharing the beauty of n...

News Feature Team - avatar News Feature Team

Have More Fun On Your Business Trips

Whether you are a traveling salesman or someone who finds themselves on the road more than in their office you probably are grateful for any tips you can get especially if they involve havin...

News Feature Team - avatar News Feature Team

Traditions of Rural Bali at Villa Sabana

A Privileged Insight into the Traditions of Rural Bali at Villa Sabana  Situated in the traditional village of Pererenan near Canggu, Villa Sabana is peacefully secluded in a semi-rural...

Linda Lim - avatar Linda Lim

Business Daily Media Business Reports

Di Jones real estate recognises high achievers

Di Jones celebrated its outstanding performers on Saturday (24 February 2018) evening at the Di Jones Real Estate Annual Awards.                               The bla...

Helen Hull - avatar Helen Hull

Eclipse Travel Expands Operations to New Zealand

Eclipse Travel, specialists in key adventure destinations such as Antarctica, the Arctic, Africa and Latin America, have announced today their expansion of operations to ...

Yvonne Kong - avatar Yvonne Kong

How medical professionals can benefit from an overall wealth management solution

As a health care professional, you have made it your life's work to focus on the care and health of the general public. While this kind of work can be extremely rewarding...

News Feature Team - avatar News Feature Team

Why Pinterest Should Be Part of Your Marketing Strategy

Pinterest is a growing social media platform that can deliver significant traffic to your website and new followers to your brand. With it’s steady growth and outrageous ...

Greg Nunan - avatar Greg Nunan

The top reasons why gyms fail

Steve Grant is a Business Coach and Founder of GymHub.com.au   Every month thousands of new trainers walk out of their 6-month course with the qualifications needed ...

Steve Grant - avatar Steve Grant

WHITE LABEL NOBA’s Winter 2016 season: Earth + Country

Taking cues from the warm winter colours of tobacco and caramel, and combining them with the strength of navy and the embracing lightness of whites and creams; and then...

Kath Rose - avatar Kath Rose

Former Etihad boss brings substantial event insight to PMY Group Board

Paul Sergeant PMY Group, the architects of the digital insurgency occurring at major venues across Australia and New Zealand, are delighted to welcome 35 year even...

Annie Konieczny - avatar Annie Konieczny

More training for coffee making than property sales: REINSW

Sydney 9 May 2016. An overhaul of education and training standards for the real estate profession must take place to help prevent illegal activities, according to the Rea...

Helen Hull - avatar Helen Hull