88% of C-suites will increase digital solutions for sustainability
A new TCS study finds that 88% of C-suites in the Asia Pacific will increase the use of digital solutions to help drive sustainability over the next three years.
Tata Consultancy Services and the University of Auckland have created the first global Digital Sustainability Index to highlight the essential role of digitalisation in driving enterprise sustainability.
The world-first study of enterprises in the Asia Pacific region, published by Tata Consultancy Services and the Centre of Digital Enterprise, University of Auckland Business School, focuses on how digital solutions are contributing to sustainability outcomes across social, environmental, and economic levers.
Based on a survey of 200 C-level executives in the Asia Pacific. The report explores Digital Sustainability, including the creation, usage, and governance of digital resources to maximise their value for business, the environment and society, how it can enable organisations to understand corporate motivators better, and the capacity and capability around digital technologies.
According to the study, three major obstacles inhibit the pursuit of sustainability objectives through digital solutions, limited budget, lack of in-house knowledge and challenges in establishing a traditional ROI.
Some of the other key findings in the report include:
- 88% of respondents anticipate increased use of digital resources, systems and platforms to address sustainability outcomes in the next 36 months.
- The vast majority (87%) agree that digital sustainability can deliver a competitive advantage and is a central value of their companies.
- Most of the respondents (80%) believe their corporate reputation in the market has improved due to digital sustainability initiatives implemented.
"At TCS, we believe digital has the power to positively change the world. The construct of digital sustainability provides a valuable, holistic framework for corporate leaders in their growth and transformation strategies," says TCS Asia Pacific president, Girish Ramachandran.
"The Digital Sustainability Index will help organisations across the Asia Pacific understand how they can create, use, and regulate digital transformation, innovation, and resources to create future-fit, connected businesses that can deliver value for society today and in the future."
Ilan Oshri, the Centre of Digital Enterprise director at the University of Auckland Business School, says, "Never has the impact of technology on the community and sustainable innovation been more relevant and more necessary. Together with TCS, we're confident the Digital Sustainability Index can help key decision-makers in every company understand how technology can positively impact business outcomes and deliver longer-term value for all stakeholders."
The report is based on a survey of 200 C-level executives from companies with an annual turnover ranging from US$151 million to over US$10 billion across 12 sectors and ten countries, namely Australia, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand, and Vietnam.