Grooming digital champions
In a recent PwC study of digital operations in companies across 26 countries, we note a range of activity separating novices, followers and innovators from real digital champions. Where in the digital spectrum would PNG businesses lie?
We asked business leaders to assess their competitiveness against rivals, probing their views on what digital means to them in PNG. In assessing their own business competitiveness, the majority believe that:
- They are inline with their competition in the areas of skills development and data management.
- They have fallen behind and need to pay more attention to digital product development and data infrastructure.
Competitiveness here is not simply about keeping up with the competition; rather it is about converting digital and technology investments into real productivity gains. Rather than being a substitute for current workers, technology is seen as an enabler and a complement to the existing workforce.
PNG business leaders see success in the next two years is contingent on:
- Skills and workforce development.
- Digitalisation of operations.
- Digital customer interactions.
Realising digital ambitions contingent on the ability of PNG businesses to:
- Boost efficiency
- Adapt to change
- Accelerate digitisation
BSP has been seen as a leader in electronic banking for many years having been one of the first banks in PNG to introduce cards and to change customers behaviours in relation to banking that didn’t involve visiting a branch. A key catalyst in the evolution from electronic banking to digital has been the rapid rollout of mobile technology that is capable of enabling digital delivery.
PNG businesses are already on their way to becoming digital champions
The growth of mobile internet access and social media penetration over the past few years has opened up new opportunities for local businesses. An example is in the financial services sector where local banks are offering new services such as mobile banking and mobile wallets to expand interactions with customers.
The road ahead is daunting but some PNG businesses in already the way in the journey from digital novice to champion. So, what can we do to nurture greenshoots and build PNG’s digital future?
