Only 7% of HK businesses are digital transformation leaders: DBS

Barriers to digital shift are alienating existing customers and talent gaps.

Hong Kong’s digital transformation leaders for businesses were only 7% due to problems with talent crunch, unclear business strategy, and alienating existing customers.

A DBS survey of 1,225 executives showed these findings. The bank also suggested Hong Kong to improve its digital goals.

Digital transformation will lead to  improving collaboration, customer experience, and efficiency, said DBS. 

DBS also found that cloud technology will be the most important tool for treasury and finance whilst investment activities were focused for a shift in treasury function.

Finance and treasury teams in Hong Kong were less involved in strategic decision-making than those in other markets.