target audience: TECH SUPPLIER Publication date: Jun 2023 - Document type: IDC Survey - Doc Document number: # AP50343523
Investing for Growth Amidst Uncertainties with Digital Business Transformation: Insights from IDC's 2023 Asia/Pacific (Including Japan) CEO Sentiments Survey
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Abstract
This report examines Asia/Pacific's (including Japan) (APJ) CEOs' perspectives on the state of the region's digital economy and their business and technology priorities and challenges for 2023. The report aims to help tech vendors' sales and marketing leaders understand how to meet CEOs' changing priorities in facing the storms of disruptions while accelerating transformation efforts to become digital businesses.
In exiting the pandemic, APJ CEOs anticipate continued uncertain macroeconomic conditions. They have shifted focus toward using tech to drive growth while positioning their organizations for external shocks. Digital business transformation is seen as the solution to achieve both business resilience and growth in today's environment. Investment shifts signal that most CEOs are posturing for resilience while scaling innovation and digital value creation. Against these factors, technology vendors must adapt sales and marketing based on where CEOs are in their respective digital business transformation and balance achieving short- and long-term outcomes.
"Against continued macroeconomic uncertainties, CEOs are adopting scenario-based budgeting and using dynamic monthly budget cycles to be more responsive while continuing to invest in digital business–enabling capabilities," says Lawrence Cheok, associate research director on digital business strategies, IDC Asia/Pacific. He adds, "Our research shows different value drivers based on organizations' respective digital transformation approaches, namely digital-reactive, evolving existing business model, or new digital business models. Vendors that best align value propositions with these drivers will succeed amidst the forthcoming disruptions."
The analysis in this report is based on the APJ subset of respondents of IDC's 2023 Worldwide CEO Sentiment Survey conducted from January 2023 to February 2023.