Report records 10% Digital Trailblazers, 52% Digital Migrants and 38% Digital Aspirants
45% enterprises attribute productivity loss during the crisis to connectivity
45% CXOs fear employee burnout without the right tools and systems
41% enterprises confirm threat of losing market share if they didn’t shift to a digital-first operating model
Mumbai, India, August 16, 2021
Tata Communications, a global digital ecosystem enabler, today unveils “Leading in a Digital-First World; Enabling Success with the Right Mindset, Ecosystem and Trust” Report which finds 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. 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.”
A.S Lakshminarayanan, Managing Director and CEO, Tata Communications.
“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 ‘Leading in a Digital-First World’ Report very clearly identifies gaps and addressal for enterprises in their digital transformation journeys to be in three areas:
- Commit to a digital-first operating model: 44% were not successful in delivering a digital-first operating model for their ecosystem. To address this, real benefits of digital transformation requires organisations to go far beyond shifting some business processes online. They need a coherent digital operating model that over time reimagines every core channel, process and service offering to maximise the digital opportunity.
- Create quality user experiences with a hyperconnected ecosystem: 91% enterprises admit that they are not able to provide high-quality digital experiences for their customers, employees and business partners. They concur to having only a patchwork of different digital strategies and processes across their organisations. To move up the value chain, a digital-first strategy focusing on agility, control and security is critical. Enterprises must move away from legacy processes and embrace ‘being hyperconnected’ and delivering high-quality, secure and frictionless collaboration for all stakeholders across the entire ecosystem.
- Central to a digital-first business is security and trust: 49% enterprises affirm cyber security to be the most important aspect of their digital strategy to continually improve and 34% enterprises rate themselves poorly at delivering an agile operating model. This is a stumbling block on their ability to innovate and adapt faster than their competition. As cyber threats and regulatory demands gain centre stage in the new world enterprises must continue to win trust, businesses must stay vigilant and invest proactively to safeguard all stakeholders.
As the ‘Leading in a Digital-First World’ Report states, the current shift to digital-first operating models is a defining moment in the evolution of businesses and rethinking the new world. A digital-first strategy enables secure, connected and digital experiences. The sooner organisations start to accelerate their digital transformation journeys up the digital maturity curve, the more likely they are to empower themselves for the new digital era.
Find out more about the research and read the full report here.
| Media Contact
Arati Mukerji Tata Communications +91 9958895759 arati.mukerji@tatacommunications.com |
Media Contact
Viswakumar Menon Tata Communications +91 9820069928 viswa.menon@tatacommunications.com |
A part of the Tata Group, Tata Communications (NSE: TATACOMM; BSE: 500483) is a global digital ecosystem enabler powering today’s fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. 300 of the Fortune 500 companies are its customers and the company connects businesses to 80% of the world’s cloud giants. Its Tier-1 IP network, wholly-owned subsea fibre backbone and consortium cables’ global network carries ~30% of the world’s internet routes. For more information, please visit www.tatacommunications.com
Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications’ expected financial position, business strategy, the future development of Tata Communications’ operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications’ network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company’s communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications’ industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications’ control, include, but are not limited to, those risk factors discussed in Tata Communications Limited’s Annual Reports.
The Annual Reports of Tata Communications Limited are available at www.tatacommunications.com. Tata Communications is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements.
TATA COMMUNICATIONS and TATA are trademarks or registered trademarks of Tata Sons Private Limited in India and certain countries.