This vendor-written piece has been edited by Executive Networks Media to eliminate product promotion, but readers should note it will likely favour the submitter's approach.
Digital transformation has been one of the biggest trends across the globe in 2015 and Asia is set to be on the forefront of this digital wave in 2016. With 8.6 billion connected devices and a robust digital infrastructure, most countries in Asia are on their way to implementing digital initiatives that make the most of the opportunities arising from digital transformation.
Smartphones, apps, wearables-IT moved into the everyday lives of consumers long ago. As the Internet of Things (IoT) segment grows, smart refrigerators, self-driving cars and other networked smart items will also become part of daily life.
IT experts predict that by the year 2020, around 50 billion networked machines and devices will generate a data volume of about 40,000 exabytes (1 exabyte is equal to circa 1 million terabytes)-more than five times the level in 2015. To channel this flood of data productively, companies need to evolve digitally by stripping off their stiff corset of standard software and start adopting flexible, multifunctional platforms instead.
Traditional ERP systems cannot provide the speed of process restructuring and innovation needed these days. Cloud computing and mobile applications have been highlighting the limits of the monolithic approach with intertwined software packages for some time now. Static, inflexible legacy programs make updates time-consuming and costly.
Even the concept of service-oriented architecture (SOA), which accelerates processes with flexible middleware without completely replacing the old systems, proved to be a temporary solution. As data volumes continue to grow along with the proliferation of mobile usage and broadband connectivity in the region, agile jacks-of-all-trades such as enterprise apps are taking the place of standard applications.
Entrepreneurial spirit in the digital transition
According to IDC's Digital Transformation survey earlier this year, 34 percent of firms in Southeast Asia fall within the "opportunistic state" of digitalisation. This indicates that by employing the right technology, organisations in the region can capitalise on the wave of digital transformation.
Entrepreneurs in the region are also increasingly gaining significance of leveraging on digitisation and tapping on data streams to incorporate agility, responsiveness, scalability and innovation into their business model.
By harnessing relevant data, firms will be able to enhance business processes that serve customer's needs faster and better with the greater differentiation and customisation. However, the major challenge facing firms is extracting relevant, value rich information from the deluge of data coming from multiple data streams productively. Enterprises in the region must acclimatise themselves to a rapidly evolving digital business environment. Competitors from other region aren't snoozing through digitisation, and those who handle it better are already heading to the starting blocks.
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