New research from HubSpot highlights a significant performance gap among Singaporean businesses based on their digital maturity. The study, which surveyed 544 business leaders, reveals that companies with fully integrated digital systems are ten times more likely to outperform their peers. This digital sophistication is crucial for navigating economic uncertainties and achieving rapid growth.
The research identifies key factors that distinguish top performers: integration of digital tools, AI maturity, and leadership alignment. Whilst 91% of businesses have embraced some form of digitalisation, only a minority have fully integrated systems, limiting their ability to maximise technology benefits. Carol Fong, Head of Asia at HubSpot, emphasised the importance of agility, stating, “The difference between a thriving business and one merely keeping the lights on comes down to how quickly they can adapt to changing market conditions.”
The study also highlights the role of AI in driving business success. Companies with advanced AI implementations report faster returns on investment and are nearly twice as likely to outperform their peers. However, only 16% of businesses have reached advanced AI deployment, indicating a significant opportunity for growth.
Leadership alignment emerges as a critical factor in digital transformation. As businesses mature digitally, internal bottlenecks such as slow decision-making and lack of leadership buy-in become more pronounced, hindering growth.
In conclusion, the HubSpot research underscores the importance of digital maturity in achieving business success. As economic challenges persist, companies that integrate digital tools effectively and align leadership strategies are better positioned to thrive.
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