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Digital transformation is powering up legacy companies in Southeast Asia
We live in a digital world, and digital capabilities are now a critical part of an effective business strategy. The COVID-19 pandemic further accelerated this trend, creating new pressure on organizations to leverage digital capabilities in order to meet changing customer expectations.
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Southeast Asian companies struggle most with deploying high caliber talent and having an agile governance mindset. (Boston Consulting Group/-)
J
akartaWe live in a digital world, and digital capabilities are now a critical part of an effective business strategy. The COVID-19 pandemic further accelerated this trend, creating new pressure on organizations to leverage digital capabilities in order to meet changing customer expectations.
Digital transformation is already a central part of corporate strategy in almost every organization, as enterprises seek to enhance customer experience, improve digital outreach, leverage data-driven opportunities, optimize processes and ultimately innovate their way to improved delivery and new market penetration.
Yet despite this recognized need, research by Boston Consulting Group (BCG) shows just 35 percent of companies globally are successful at delivering on their digital transformation goals. Companies that do succeed unlock a path to improved performance and superior innovation that help drive business success.
New research by BCG reveals a fascinating evolution in this landscape of successful digital companies. A growing number of legacy companies are leveraging successful digital transformation to emerge as what we call Digital Incumbents — traditional businesses that have successfully executed a digital transformation and are making progress in systematically building digital capabilities, with superior performance.
Understanding an evolving digital landscape
Digital incumbents are now operating in industries across the business ecosystem, and include companies such as Adidas, Diageo, ING, John Deere, KLM, L’Oréal, Ping An Insurance and Telstra.
