For an overwhelming 97 percent of Indian businesses, adopting Next-Gen software solutions is the key to driving growth and expansion while 92 percent of them stated that software is important for them to create new products or services to enter new markets, a survey said on Monday.
According to the leading software company CA Technologies' "Modern Software Factory" survey, 91 percent of the respondents highlighted software as key to their digital transformation journey.
Indian businesses recognise software as the defining competitive advantage that will enable them to create new, disruptive businesses or to re-shape their existing business landscape, the findings showed. Sunil Manglore, Managing Director, CA Technologies, India, said in a statement,
Digital disruption and changing customer expectations are driving organisations to become more agile, and to introduce new products and services to meet evolving demands. Software is not only a catalyst in transforming ideas into outcomes but is also a competitive differentiator.
"By adopting the modern software factory framework, organisations are better able to speed-up time to market, consistently improve the quality of output, reduce risk and increase productivity," he added.
Nearly 93 percent of respondents said software is essential for them to deliver a better customer experience.
"About 92 percent said it is essential to improving insights into customers' needs and wants while 90 percent said it is essential for repositioning the company and its brand," the survey noted.
As firms in India become cognizant of the decisive role that software plays in facilitating key business priorities, the survey also found that there is a corresponding emphasis in software-related priorities.
Almost 99 percent of respondents highlighted that it is essential or important to have better prioritisation of software development in line with business goals.
Although this is seen as the most important priority in India, less than half of them (47 percent) said their IT teams are very effective in realising it.
When it comes to security, the respondents asked to make security a more embedded part of the software development process.
The global online survey of 1,279 senior IT and business executives (575 in the Asia-Pacific region) was sponsored by CA Technologies and conducted by industry analyst firm Freeform Dynamics Intelligence Unit in July 2017.
The Asia-Pacific countries surveyed were India, Australia, China, Hong Kong, Japan, Singapore and South Korea.
Although software is indisputably pivotal for the growth of companies, the survey found that most organisations are lacking the right IT capabilities.
"Organisations in India need to understand that every company today is a software company. Without a modern approach to software, they will be left behind in today's application economy," stressed Manglore.