Following the recent signing of 15 China-Pakistan Economic Corridor agreements and memorandums of understanding on economic and infrastructure projects, business confidence is surging.
Thanks to far-reaching nationwide transformation initiatives such as the China-Pakistan Economic Corridor and Pakistan Vision 2025, Pakistan’s organizations are eagerly outlining digital transformation agendas.
While digital transformation is rapidly moving from theory into practice, there is much work to be done. CEOs in Pakistan are in line with global trends showing 84 percent of organizations say that digital transformation is critical. However, only three percent of organizations worldwide have completed their digital transformation.
Across the board, studies show that organizations that digitally transform can gain new levels of market share, profitability, and revenue growth. Digital leaders ultimately can become intelligent enterprises that can manage, share, process, and analyze any information anywhere, at any time — vital for the digital economy.
In discussions with organizations of all sizes across industry verticals in Pakistan — from agriculture and banking to construction and telecommunications — C-suite executives should take a three-step approach to digital transformation. The first is to outline digital transformation agendas. The second is to run on a digital core for real-time insights on budget and financial planning, customer needs, and supply chain, driving business competitiveness. And the final step is to adopt emerging technologies that lead to digital business innovation.
Working with specialized channel partners and systems integrators is vital for organizations in Pakistan to outline digital transformation agendas, and integrating existing systems, processes, and business knowledge in order to lead to seamless connections and innovation. For example, intelligent enterprises can use predictive insights to better manage customer solutions, provide seamless user experiences across all applications, and gain real-time awareness on any situations.
The main enabler of digital transformation is to run on a digital core. A digital core can automate business processes, transform user and customer experiences, and break down data silos to share real-time insights.
Increasingly, Pakistan’s organizations are looking to leverage emerging technology to take business to the next level, free up staff to focus on innovation, and operating in real-time and predict customer needs.
For example, in the wider region, more than 70 percent of digitally-leading organizations are currently investing in Artificial Intelligence and Machine Learning, Big Data and Analytics, and Cloud, according to the recent SAP and Oxford Economics Digital Transformation Executive Study.
SAP is already seeing strong success in co-innovating with Pakistan’s digital leaders. The Controller General of Accounts is digitizing government budgets and financial reports, as well as salaries and payments for 3 million public sector employees and pensioners.
In the private sector, Agha Steel Industries became Pakistan’s first company to deploy SAP Fiori apps end-to-end on the cloud, transforming user experiences with real-time dashboards on manufacturing and operations. Fauji Fertilizer Company led digital transformation with the real-time business suite SAP S/4HANA, helping to transform operations and customer experiences. And in construction, Lucky Cement’s adoption of SAP S/4HANA is enabling new levels of construction innovation.
Catalyzing Pakistan’s organizations in their digital transformation, SAP recently signed a memorandum of understanding for Jaffer Business Systems to offer SAP solutions to organizations of all sizes and verticals.
Having a robust telecommunications infrastructure can enable intelligent enterprises and nationwide transformation. PTCL recently joined the partner managed cloud program to offer SAP HANA Enterprise Cloud, which can enable new levels of cloud digital business innovation.
With Pakistan’s digital market reaching PKR800 million, every industry vertical is accelerating digitization to optimize costs, efficiency, and customer experiences. SAP’s live cloud data center in the Kingdom of Saudi Arabia enables enterprises in Pakistan to readily adopt secure cloud solutions for digital business success.
Organizations across Pakistan that are kick-starting their intelligent enterprise transformation — by driving digital transformation agendas, running on a digital core, and adopting emerging technologies — are those that will rise to the top and support the transformation of the country’s economy, society, and environment.
Saquib Ahmad is managing director for Pakistan at SAP.