According to IDC, 55% of Malaysian organisations do not have an integrated enterprise-wide digital transformation strategy, and 91% of Malaysian enterprises are either on stage one or two, of a five-stage IDC maturity curve. Many of the challenges faced broadly falls under access and complexity.
The lack of access to the required skills is a large challenge, especially talent steeped in what IDC terms as third and fourth platform technologies and technology delivery models. These include cloud computing, Internet of Things (IoT) and mobility (underpinned by 5G), and big data analytics and machine learning, all of which need to operate in a secure environment. Implementing digital transformation requires multi-domain expertise spanning business and technology, which is hard for enterprises to acquire. Emphasis is often placed on processes and not outcomes. Employees often need to be retrained. Business continuity takes precedence over targeted investments.
In the journey towards establishing a Digital Nation, the private-public and people are embracing technologies hence accelerating digital transformation efforts.
BFSI: Techwire Asia found that more than 70% of Malaysians are looking forward to a digital banking revolution. Malaysian banks are transforming digitally to align to customer needs, improve operations, meet compliance, enable open ecosystems by leveraging emerging technologies to address new opportunities.
Healthcare: The healthcare sector is turning to digital solutions to realise the promise of connected digital healthcare. Enhancing patient experience, increasing diagnostic accuracy, and improving patient care are some of the goals that the healthcare sector is hoping to achieve as a result of digital change.
Emerging technologies are shaping the industries from continuous remote diagnostics, conversational Artificial Intelligence (AI), distributed cybersecurity, industrial robotics and automation and more.
To facilitate and accelerate digital adoption, TM One has built its offerings along four (4) technology pillars of digital transformation – Cloud, cybersecurity, smart services and professional services. Cloud carries the weight of digital change squarely on its shoulders. TM One Cloud α empowers enterprises with a comprehensive, customised, end-to-end, cloud solutions that deliver agility, innovation and growth. It is complemented by TM One cybersecurity solution, known as CYDEC (Cyber Defence Centre), which offers the best continuous, real-time and predictive protection spanning private and public networks, data, identity, and devices and infrastructure--to mitigate attacks on brand and reputation, online fraud, and mobile channels. Smart services are the most visible ambassadors of digital transformation, taking Malaysia a step closer to the Digital Malaysia aspiration. Whereas TM One Professional services help leaders create vision and roadmaps, enabling predictable, business-aligned digital transformation.
This article was written in collaboration with The Edge.