50% Malaysian Businesses Believe Meeting Changing Demands Is a Challenge

Date received : 25-Oct-2018
Location : Malaysia

With digital accelerating growth in the region, ASEAN’s digital economy is projected to add an estimated USD1 trillion to the region’s GDP over the next 10 years. However, most Malaysian companies remain in the early stages of their digital transformation journeys. Many have yet to realise improved financial performance through the execution of digital strategies.

In fact just 3% of Malaysian businesses are Digital Leaders, according to the Dell Technologies Digital Transformation Index 2018 (the DT Index). The study reveals that 51% of Malaysian business leaders believe their organisation will struggle to meet changing customer demands and 48% fear they’ll be left behind within just five years.

According to the research, the top five barriers to digital transformation are:
  • Lack of budget and resources
  • Data privacy and cybersecurity concerns
  • Lack of the right in-house skill sets and expertise
  • Lack of senior support and sponsorship
  • Immature digital culture: lack of alignment and collaboration across the company
These barriers are hampering digital transformation efforts which make it even more important for businesses to embrace digital transformation now or face the threat of being outmaneuvered from more nimble and innovative players.