Asia-Pacific Ramps Up Digital Transformation Despite Gaps

SINGAPORE – Companies across the Asia-Pacific region are increasing investments in digital transformation, but many still face a significant gap between ambition and execution, according to findings from the Reuters Plus APAC Survey 2024 and the “Digital Transformation in Asia-Pacific” report.

The reports reveal that only 53 percent of companies in the region fully utilize their data, indicating a large pool of untapped potential. This is especially critical as small- and medium-sized enterprises (SMEs) comprise 98 percent of businesses in the Asia-Pacific, many of which lack internal resources and awareness of suitable digital solutions.

Despite these hurdles, 49 percent of organizations plan to significantly increase digital transformation spending over the next three years. This trend signals a strong commitment to modernization, with improved decision-making, speed, and efficiency cited as key benefits.

In Singapore and India, 79 percent and 78 percent of respondents respectively identified better decision-making as the top advantage of digital transformation.

However, access to reliable vendors remains a significant roadblock. “Lack of reliable and cooperative vendors and consultants” was cited by 50 percent of respondents as a major barrier to successful transformation.

Experts believe that part of the issue stems from poor awareness of available support. “Many SMEs still believe the vendor ecosystem is dominated by big IT brands, but that’s no longer the case,” the report noted.

FUJIFILM Business Innovation, formerly Fuji Xerox, is one of the companies actively addressing this gap by offering digital platforms focused on workstyle reform, workflow optimization, and cloud-based printing. Targeted at Japan and the wider region, FUJIFILM aims to make productivity tools more accessible to smaller businesses.

“Digital transformation is not just about technology—it’s about building smarter, more resilient businesses,” said a FUJIFILM representative. “Our goal is to help SMEs digitize in a secure and scalable way.”

Asia-Pacific has yet to reach full digital maturity, but optimism remains high. The region’s businesses are increasingly aware of both the benefits and challenges of digitalization. The Reuters NEXT Asia summit, scheduled for July 8–9 in Singapore, will bring together over 350 global leaders to address these issues and chart the next steps.

With rising investment and growing awareness, the region is poised to unlock the full benefits of digital transformation—if it can bridge the current execution gap.