India’s digital story is all about growth – massive growth. Digital transformation is now a primary agenda for C-suite executives in India. They are clearly seeing the growing signs of digital opportunities as companies quickly adapt to the changing market requirements. Our latest whitepaper “Asia Rising: Digital Driving” highlights that 74% companies surveyed in India are already on their way to digitally transforming their business, while 26% plan to embark on the transformation journey over the next 12-24 months. They are already experiencing an average 8% revenue growthas a direct result of their digital transformation efforts, and they expect that to reach nearly 14% by 2017.
As cliché as it sounds, digital transformation is quickly becoming the path to thriving – if not surviving – in our new age. The winners in this new digital world will be companies that challenge their conventional thinking on product innovation, customer engagement, organizational structure, strategy, and business models. Against this backdrop, Cognizant will hold its flagship CXO summit - “Cognizant Community” on November 18, 2015 in Mumbai, India and the theme is “Digital Business: Opportunity Decoded”. The summit will focus on decoding the vast opportunities resulting from the new digital business era by powering new value chains, operating models and customer-centric experiences.
One of the key highlights at the summit is the C-suite panel discussion: “The Future of Digital Transformation in India”. I will act as panel moderator and will be joined by Manish Choksi, President, Home Improvement - Asian Paints; Manik Nangia, Chief Digital Officer - Max Life Insurance; and Mukesh Kumar Jain, Chief Technology Officer – Reliance Capital. We believe the digital opportunity is among the most important business shifts of the past 50 years and Asia Pacific is at the center of this opportunity. Switched-on leaders have already recognized the need to transform the very essence of business value generation, as well as their own vision surrounding technology, work and the global economy. However, transformation also introduces some unforeseen challenges in the form of new investments, internal skills, change management, and roles and responsibilities for companies. The mandate has intensified for businesses to quickly rise to these challenges and turn them into opportunities. In this session, the panel will address the following strategic questions:
- Is digital transformation simply the latest technology trend, a management consulting fad or a “once-in-a-decade” shift for businesses?
- What are the key forces (internal and/or external) driving the change?
- What are the biggest challenges related to digital transformation that businesses face and the role that technology decision-makers will play in addressing them?
- What will be the impact of digital on business processes and traditional IT systems?
- What are the key lessons that leaders can learn about the future of business?
“Becoming Digital” is the biggest challenge — and opportunity — that we’ll face over the next 10 years. Much has already happened, but we are just getting started. This is an invitation-only CXO event and a must-attend for leaders wanting to keep pace with changes in global business.