Andrew Lim, Managing Director, Kyndryl ASEAN, says the steady growth of innovation in Singapore and Southeast Asia means business shouldn’t shy away from asserting their need for fundamental support and guidance in adapting to emerging technologies.
Singapore sits at the heart of Southeast Asia, providing businesses access to other emerging markets and a tech ecosystem that continues to foster collaboration and innovation, particularly in leveraging technologies such as AI, IoT and advanced data analytics for sustainable growth.
While the potential benefits of this ecosystem are vast, what I’ve come to realize is that many businesses are apprehensive about navigating the digital landscape independently.
Instead, they seek foundational support to accelerate their footprint into the digital realm and guidance on the type of tools, processes and even culture they need to enhance productivity and innovation for this tech-driven future.
Digitalization: not just a buzzword, but a necessity
Before diving headfirst into this finance and resource-heavy process, business leaders should feel encouraged to collaborate with technology consultants or IT services providers to understand and map out what their goals are.
Digitalization is not a one-size-fits-all situation.
While it was revealed by IDC’s digital transformation (DX) spending guide that technology spending in the APAC region will grow by 18.9% in 2024, recognizing the unique needs and capacity of each business is crucial for tailoring a digital strategy that delivers results.
A key takeaway from our experience in aiding customers’ digitalization and modernization endeavors across Southeast Asia is to take a measured approach, understanding the breadth of technology available and guiding their adoption to ensure that it is implemented gradually.
This involves not only the utilization of cutting-edge tools but also the cultivation of effective tech adoption practices, fostering a conducive organizational culture and establishing a robust governance process.
Businesses should introduce new tools and processes gradually to allow understanding and integration of these technologies whilst building momentum amongst their people.
Over time, this strategy can catalyze investments into other business areas, allowing digital transformation to naturally flow into the other parts of the organization.
By recognizing the interplay between technology, practice and processes, and culture, organizations can achieve sustainable transformation and innovation, driving long-term success in today’s dynamic landscape.
Successful IT modernization requires organization-wide consensus
Having guided several customers in their IT modernization journey across Southeast Asia, we have come to realize that there is great significance in establishing a consensus about the need for technological change and the change it will bring to the business. IT modernization practices should be an organization-wide effort, with a clear definition of needs, goals and vision outlined in tandem with CIOs and leading decision-makers across departments. If transformation is carried out in siloes, businesses may risk the project becoming larger than necessary, or incur wasted costs while drifting away from the original purpose.
Singapore-owned BreadTalk Group is a great example of a player in the food and beverage sector where Kyndryl in partnership with AWS deployed a single point of IT infrastructure control for BreadTalk Group by using AWS cloud to streamline the running of diverse applications across business areas, built on various cloud platforms and on-premise environments.
In an era of intense change, BreadTalk Group recognized the need to upgrade its technological infrastructure to enhance its workforce efficiency after expanding into 16 markets globally, fortifying security measures and bolstering operational control for the organization and its employees.
I’d encourage businesses operating in Singapore and Southeast Asia not only to recognize the value of getting on board the digital transformation train to improve processes or solve a business or customer-facing problem but rather pay attention to technologies available to them to ensure sustainable business growth and competitive advantage in the increasingly digitized global market.
Leaders must also understand that these technological advancements are not ends in themselves but rather tools designed to support organizational growth and enhance performance.
Having a structured checklist of the tools, devices, or practices that the business lacks can offer invaluable insights for leaders when collaborating with IT service providers and consultants.
This method facilitates the identification of suitable technological solutions to address existing gaps, leading to tangible outcomes such as innovation and increased competitiveness in the industry.
Embracing modernization in this manner aligns technology investments with overarching business goals, ensuring that resources are effectively utilized to drive sustained success.
Cultivating a Culture of Change from Within
Additionally, with new technologies and solutions introduced, building a belief among employees is another crucial step to take in implementing successful digital transformation for those operating in Southeast Asia.
The region is a melting pot of cultures, diverse business practices and digital infrastructures which pose both exciting opportunities and complex challenges.
To adopt and benefit from technological changes, employees must feel inspired to embrace innovation and learn.
This mindset will support leaders in fully maximizing their organization’s innovation initiatives and contribute to Singapore and the region’s smart city ambitions.
Ultimately, embracing digital transformation can be intimidating for organizations that are new to this domain.
However, with the steady growth of innovation in Singapore and Southeast Asia, I’d urge businesses and their leaders to not shy away from asserting their need for fundamental support and guidance in adapting to emerging technologies such as AI, IoT, and intricate data analytics. Work with specialists who can act as intermediaries between the organization and evolving digital trends, to effectively utilize these technologies for sustainable growth and innovation.
As tech continues being the enabler of innovations, organizations should take the opportunity to elevate their businesses to boost their productivity and efficiencies and enhance the employee experience. Digital transformation will always be the gateway to adapt and thrive in the ever-changing Southeast Asian digital landscape – and every organization and industry has a role in contributing to the region’s tech-driven future that cannot be overstated.
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