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What’s Driving Digital Transformation in ER&D

This was the tenth anniversary of the NASSCOM Engineering & Design Summit which introduced several changes in approach. It was themed on, Innovate, Create & Scale: Making Digital Real. As you are aware, this event had a long run before we decided to introduce the word “design” to lay emphasis on this aspect being an inherent part of engineering, particularly of the digital kind.

The ER&D sector is on a high upward trajectory – both globally and in India. In 2017, the global ER&D spend was 1.7 trillion USD; by 2022, it’s expected to touch 2.1 trillion dollars. Corporate spend will be a major chunk which means the top 2000 companies globally will spend 900 – 1000 billion dollars which is about 5 – 6 times the size of the Indian IT BPM industry, just to put things in perspective.

A landmark occasion as this, witnessed some interesting discussion themes:

  • This was the tenth anniversary of the NASSCOM Engineering & Design Summit which introduced several changes in approach. It was themed on, Innovate, Create & Scale: Making Digital Real. As you are aware, this event had a long run before we decided to introduce the word “design” to lay emphasis on this aspect being an inherent part of engineering, particularly of the digital kind.The ER&D sector is on a high upward trajectory – both globally and in India. In 2017, the global ER&D spend was 1.7 trillion USD; by 2022, it’s expected to touch 2.1 trillion dollars. Corporate spend will be a major chunk which means the top 2000 companies globally will spend 900 – 1000 billion dollars which is about 5 – 6 times the size of the Indian IT BPM industry, just to put things in perspective.

    A landmark occasion as this, witnessed some interesting discussion themes:

    • The summit brought a shift in focus: heightened level of Customer Experience all across is driving digital transformation of orgs.

     

    • We realised that superior customer experience is only a bar which can and should be raised continually through technology, and proving to be the single-most powerful lever.

     

    • There was unanimous agreement with the council members on 3 opportunity areas going forward i) fixing software productivity variance to stay ahead on competitiveness; ii) building new capabilities in product management & innovation; and, iii) aligning operating setup and addressing the changing sourcing/offshoring trends.

     

    • The leaders agreed that some of the key areas which needed focus at organization level were about consolidating global footprints and bringing transparency and accountability on R&D performance.

     

    • For implementing successful digital transformations, the emphasis was also on building cross functional talent teams to drive digital initiatives within organizations, to derive maximum impact.

     

    • For an org, learning & development will be the key to be digitally matured. The need for continuous learning and upskilling the existing workforce has resonated with all the enterprises.

     

    • For middle level managers who are driving digital initiatives, the key takeaway was how to handle the digital dilemma and influence the top management for commitment. There’s no escaping what has now become a universal truth – top management obsess over RoI.

     

    The key message delivered can be summed in a sentence – The winners will make the Customer Journey a great experience through digital transformation.

          Know more about NASSCOM’s initiatives and programs, follow NASSCOM impact stories

 

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