Cos allocate less than 30% of tech spends to digital

The report further said that over 50% of the enterprises also indicate patchy digitalisation, with only the key functions digitalised, but in silos, thereby limiting effective RoI realisation.
Image used for representational purpose.
Image used for representational purpose.

BENGALURU: In India, about 57% of Indian enterprises allocate less than 30% of technology spending to digital spend, according to a report released by Dassault Systemes and nasscom.

The report on adoption and impact of virtual twin technology was released on Monday in Bengaluru.

Digital twins are computer-based models of a physical product, process or system. It can be at a component level, or for a product, a process, or a complete system of operations.

These are a digital version of physical assets created using software, IT-OT hardware, and connectivity to manage asset through stages of its lifecycle.

“Virtual twin tech is poised at the brink of transformative potential, marked by a sharp increase in awareness and early adoptions since the pandemic. Though full-scale implementations and dedicated budgets remain limited, focus on optimising assets and processes opens up expansive opportunities,” said Sangeeta Gupta, senior Vice-President & chief strategy officer at Nasscom.

She added that overcoming hurdles in software procurement, enhancing top-level commitment and ecosystem synergies can unlock groundbreaking innovations, driving industries toward a more efficient and digitally integrated future.

The report further said that over 50% of the enterprises also indicate patchy digitalisation, with only the key functions digitalised, but in silos, thereby limiting effective RoI realisation. Also, less than one in five companies have put in place advanced process automation, the majority have implemented RPA (robotic process automation).

About 63% of Indian companies have deployed virtual twins at the product or process level, majority of these, 40% at the product level.

Related Stories

No stories found.

X
The New Indian Express
www.newindianexpress.com