The digital trend is growing rapidly in the business world, but can SMEs keep pace? Gartner forecasts IT spending to grow 7.3% year-on-year to reach RM70.2 bil this year as larger organisations are expected to raise their IT budgets for digitalisation initiatives to tap opportunities in an increasingly digitalised ecosystem.
A digitalised ecosystem consists of suppliers, customers and other parties bound together by electronic networks.
The evolution will see enterprises shifting from a linear value-chain type of business to one that is more multi-dimensional, and become part of a faster and more dynamic network.
Against this backdrop, Gartner research vice-president Andy Rowsell-Jones says SMEs face three challenges in creating a business ready for the digital ecosystem. The first is scale which SMEs, unlike larger companies, find it hard to establish on their own.