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ASEAN Economic Community to spur urgency for digital transformation

Nick Lim, Vice President, Asia South, CA Technologies | March 17, 2016
Digital trends like Big Data, Internet of Things, Cloud Computing, social media and mobile web services are radically changing the business landscape and reshaping boundaries of enterprises. Digital technology has the potential to create the right springboard for commerce and substantial economic growth for the AEC.

Taking Digital Transformation to the next level

Today, the application economy has morphed into a very real phenomenon for businesses and consumers alike, with every business transforming into a digital business at a certain level.

Everything is driven by a connected, mobile, application-based world, whether it is retail, news, entertainment, banking, education, government or communications. It is a fact that today's customers are far more likely to experience a brand and interact with enterprises through a software application than with a live person.

Organizations are increasingly leveraging modern technology and communications to transform one or more key aspects of the business to achieve a state of digital readiness.

Finding the Right Connect

With mobile and desktop applications becoming the new battleground for brand loyalty in the region, enterprises failing to deliver a positive application experience risk losing about a third of their customer base.

Brand loyalty is crucial and it all depends on the consumer experience with factors like Quick Loading, Simple Functionality and The Assurance of Security playing a big role. 

Applications are increasingly becoming the primary modes for consumers to connect with businesses. A real differentiator is creating applications which are personalized, secure, responsive and easy to use.

The AEC will provide greater access to a market of over 630 million people offering tremendous opportunities. This translates to greater regional competition and the need to address a population of which half are under the age of 30. These are among the main consumers today who have little or zero tolerance for delays or downtime, with their ever-increasing access to various brands through apps.

Getting on the Right Track

Being software-driven has become a prerequisite for enterprises in today's dynamic business environment. The players which deliver high-quality and secure applications to market faster will stand out eventually in the AEC marketplace.

Embracing an agile management approach is no longer just confined to product development, but it is a culture for engaging in business. Agile thinking is being used to enable digital transformation for businesses across industry. It provides a fast and meaningful way to connect the methodology of agile teams to the business portfolio so management can derive results from agile adoption and have the insights needed to make quick decisions. With the AEC taking off, new opportunities also means new competition.  Businesses with agile practices will have the competitive advantage especially in the application economy.

Going agile will enable enterprises to gain competitive advantages through the delivery of superior user experiences and the ability to operate in a more iterative way that can constantly adapt, adjust and pivot based on changes in the market.

For smaller markets especially, businesses could start to see a flood of other players competing against them locally. Given the application economy potential in the AEC, it is important for businesses to adopt a software-driven business model as well as an agile management approach to survive and thrive.

 

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