90% enterprises yet to achieve digital-first goals: Tata Communications

Over 90 per cent of enterprises are yet to achieve their digital-first goals with 49 per cent admitting that cyber security is the top most priority for their business, according to a report by Tata Communications released on Monday.

It also brings to light that 45 per cent of enterprises lost productivity during the Covid-19 crisis due to problems of connectivity and 41 per cent enterprises attribute the shift to digital-first operating models for maintaining market share during the course of the pandemic.

The report titled ‘Leading in a Digital-First World; Enabling Success with the Right Mindset, Ecosystem and Trust’ carries a survey conducted among business leaders across 750 enterprises in 11 countries and classifies them into three distinct categories as per their digital maturity stage.

Only 10 per cent enterprises have the most advanced digital operating models, connectivity platforms and strategies ensuring secure and trusted operations, according to the report.

About 63 per cent of them attribute revenue growth to their digital-first strategy. Nearly 52 per cent of enterprises have limited digitalisation in their business but still need to improve in several areas of digital capability.

The report said 38 per cent 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 S Lakshminarayanan, Managing Director and CEO of Tata Communications, said 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,” he said.

The report said that 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, it said.