At this year's edition of the CIO Summit Singapore 2015, we had a quick chat with Joseph Pucciarelli, Group Vice President and IT Executive Officer of IDC, to learn more about his insights on digital transformation, as he shared his personal tips and advices to business leaders who are keen on embarking on the journey. In lieu of his presentation which discussed how IT investment can help to support digital transformation, Pucciarelli also talked about how IDC's FutureScape framework can help companies to overcome such challenges.
Play the video or click here to watch the full interview with Joseph Pucciarelli, Group VP and IT Executive Advisor, IDC. Below is an edited transcript of the interview.
Q: Do you think that Asian companies today are investing enough in technology to support their business transformation?
A: Like many parts of the world, there are no typical Asia companies. Some Asian companies are creating business advantages and creating new industries in the market using a certain technology. There are other Asian companies, based on their industries and their context, that are more conservative. So I don't think it's a matter of Asian companies in general. It's about the leadership styles and the companies themselves. Companies that embrace the technologies - that's really the function of the executives. Are their boards embracing the change and the opportunities that these new technologies are creating?
When you look at the spectrum of Asian companies, you need to look at how some of the resource companies are shaping some of the logistics companies. These companies have to really look at themselves and ask if they are pushing hard enough.
Q: Can you explain the concept of IDC's FutureScape framework, and how it helps companies to overcome IT investment challenges?
A: When we look at the FutureScape, what we've designed is a planning tool for business executives. Our job as analysts is to give clients a vision of the future, in terms of both opportunities and risks. Our FutureScape methodology helps with both of these. It highlights areas of opportunities where they can use technology, its potential consequences, and also the downside risks that they may encounter.
Q: What are the key benefits companies should be focusing on when evaluating an investment in digital transformation? In other words, where is the big ROI when it comes to such a decision?
Digital transformation is not just about traditional IT investments or return on investments (ROI). It's about a new line of business that generates new revenue. And if you do that, it allows you to take advantage of your competitors. If you choose not to, then there's a risk of your competitors doing it to you. It's a much more profound opportunity and risk for business leaders. It's about changing the nature of the business, not just improving efficiency.
Sign up for CIO Asia eNewsletters.