Social media mania is having a huge impact on traditional business operations. Companies that are leveraging this trend are seeing significant benefits, including collaboration and data sharing, in ways they've not experienced before.
Responses to the latest Enterprise Social Survey done by customized research firm IDC indicate that organizations in Asia/Pacific (including the geographies ASEAN, Australasia and Korea) have placed greater investment priority on enterprise social technologies than on cloud computing, business intelligence and their core networks.
According to IDC analysts working on this Microsoft-sponsored survey-which involved the interview of 352 key executives from medium and large enterprises across the region-at present, 52 percent of organisations in the Asia/Pacific have an enterprise social network in place, and 23 percent intend to have one set up in the next 18 months.
However, there are still some challenges that need to be overcome, they said. "Security, compliance, governance and lack of control are cited as the most important inhibitors to implement enterprise social," said Claus Mortensen, Director, Emerging Technology Research, IDC Asia/Pacific. "But it is not viable for companies to resist adoption as end-users may turn to Internet-based, consumer grade, and potentially less secure options. [So] organisations will need to educate themselves on the availability of solutions that also fulfill their IT requirements."
Microsoft executives believe that the rise in social technology adoption, as indicated by the IDC's Latest Enterprise Social Survey, is being driven by such "factors" as "a young workforce, early adoption of gadgets and social media as well as cultural trends such as relationship-focused business dealings."
"The rise of social media and networking is profoundly affecting the way organizations conduct their business and it's poised to be particularly impactful in Asia as enterprise encourage the sharing of ideas, rich conversations and deep collaboration, while empower employees," said Microsoft's Chief Marketing and Operations Officer for Asia, Todd Cione.
This holds most true for businesses in the local space, as social media could answer any gap between a business and its consumers because they are lucky to be in the Philippines; a market where, according to research analyst Gartner, "the most avid social networkers" dwell.
To date, there are roughly 30 million active users on Facebook in the Philippines, the eighth largest country on Facebook.
The Social Media Revolution
"Social media is leading major evolutionary trends both in society and business," says Rahul Koul, Head-Digital Marketing & Thought Leadership, Wipro Technologies in his study titled "The Role of Social Media in Business."
The factors that are driving these are "the democratization of technology and the rise of the millennial population," adds Koul. "This can be perceived strongly in the changing norms and values of digital natives. Social media is seamlessly integrated into the lives of millennials (those born after 1st Jan 1980) through their cell phones and computers, defining the way they communicate, socialize, conduct business and explore the world."
Sign up for CIO Asia eNewsletters.