The convergence of social media, mobile cloud computing and analytics is transforming the way businesses operate in order to grab new opportunities and stay ahead of competition, says a new report by Accenture Plc.
The Dublin-based business technology consulting firm has found that technology has become the core of all aspects of business, and senior leaders should understand this fact and make the best use of it.
As well, software has the potential to change the business model of a company or even an industry in the future.
But Nontawat Poomchusri, the managing director of Accenture Thailand, said only 30% of Thailand's highest-level executives _ the "C level" _ are involved in digital strategies.
Half of all Thais are less than 35 years old, indicating huge potential for companies to focus on next-generation customers and recruit more young employees.
"Business leaders need to understand the implications of a software-driven, connected-everything world," said Mr Nontawat.
He cited the Accenture Technology Vision 2013 report, which highlights seven technologies that can reshape businesses.
Advanced analytics can obtain data and evaluate consumer behaviours based on their online and social media activities, while leverage technology forges digital relationships with consumers.
Enterprise collaboration technologies can increase communications efficiency, global mobility and employee productivity. Cloud-based services help to lower costs and provide flexible investment scale for information-technology (IT) resources.
Big data process insightful data output for strategic business decisions, while security technology protects digital assets.
Virtualisation technology creates networking systems manageable through software instead of hardware.
Mr Nontawat said the slowing economy has yet to affect IT spending among companies thanks to strong business competition and Asean integration.
The top-three IT spenders are banks and other financial institutions, telecommunications operators and retail firms.
The media and entertainment sectors are set to become the next top IT spenders thanks to the upcoming digital-television transition.
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