Digital transformation is well and truly underway in Asia, home to some of the fastest growing and most innovative companies in the world. But while digital disruption may be the 'new normal' for consumers, digital innovation and transformation has yet to really take hold in the corporate treasury space.
CFOs and Corporate Treasurers across Asia-Pacific (APAC) feel pressured by their competitors, customers and supply chains to digitise their business processes. A recent survey of treasurers and CFOs across APAC commissioned by DBS, seven in 10 companies in APAC lacked a digital execution strategy. Only one in four (28%) large APAC companies (revenues in excess of $USD1 billion) had a clearly defined digital strategy. Our research also highlighted huge regional disparities with digital treasury transformation being the most advanced in markets like Japan (44% of enterprises) and Singapore (two in five companies) and in markets like Australia, Vietnam, and the Philippines.
Are you ahead of the game in digital readiness? Compare with corporate treasuries of other companies today. Take part in this benchmarking tool to find out.