Organisations in Singapore, Malaysia and Indonesia believe technology innovation is critical for competitive advantage and rapid response to market demands, according to a report by HP.
By investing in modern infrastructure and applications, 98% of organisations indicated they can capitalise on new opportunities and take innovation to the next level.
Legacy technology infrastructure, outdated applications and lack of visionary thinking are limiting ability to drive business innovation, according to the study.
As a result, just over half of the technology leaders surveyed indicated they are losing 10% to 24% in man-hours and revenue each year due to lack of innovation. Less than one third of all respondents said their organisations are leveraging innovative business technologies to adjust quickly to the changing business environment.
“The traditional mindset of employees and management is one of the barriers preventing the funding of innovative IT projects,” according to one of the respondents in Indonesia.
The Evolving Chief Information Officer
Nearly 65% of technology decision makers recognize transforming IT drives better value from investments and reduces overall operating costs. The majority of respondents believe return on investment and ability to drive revenue are two key reasons for implementing innovative technologies.
The study found that nearly 70% of technology executives in Singapore are constantly evaluating new technologies with the goal of using them to grow business opportunities. Six out of ten executives indicate plans to automate processes in order to free up resources.
“In Singapore’s knowledge-driven economy, CIOs are the new chief innovation officers. They not only have to simplify technology environments and reduce overall costs, but they also must be proactive in managing changes in the marketplace,” notes Kelly Tan, vice president and managing director, HP Singapore.
The new CIO' s role is to define metrics and align with the organisation's business strategy.
Technology is the Key Differentiator
In Singapore, nearly half of the respondents indicated independent platforms for networking, storage and servers are slowing their organisation’s ability to implement new IT initiatives. Furthermore, nearly six out of ten respondents across all three geographies agreed the convergence of servers, storage and networks on one common platform enables innovation.
Nearly 70% of respondents believe their organisation would benefit from new technology solutions for mission critical, virtualized environments to minimise business impact created by downtime.
The survey also revealed 75% of organisations would consider outsourcing their IT to gain advantage in cost, productivity and operational efficiency.
“We are looking for innovative services in accordance with our current IT systems,” according to one of the respondents in Singapore.
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