Sunday, May 25, 2025
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home ASIA Cambodia

Higher budgets and more skills ‘needed to embrace digital transformation in Cambodia’

September 24, 2020
in Business, Cambodia, National
0
Higher budgets and more skills ‘needed to embrace digital transformation in Cambodia’
0
SHARES
15
VIEWS
Share on FacebookShare on Twitter

Cambodia is at risk of “getting left behind” if it doesn’t invest more in a digitally skilled workforce as local companies look to improve their business process and customer experience through “digital transformation”, according to a panel discussion on an industrywide survey.

Digital transformation is defined as the process of using digital technologies to create new or modify existing  business processes, culture and customer experiences to meet changing business and market requirements.

Data compiled under the “2020 CEO Digital Transformation survey” by Mekong Big Data and DataU, in partnership with the National Institute of Posts, Telecoms and ICT and Khmer Enterprises, found that lack of budgets, project overruns or delays and lack of skills are the major challenges for local businesses looking to embrace digital transformation.

Key priorities were outlined as process and cost efficiency through automation, driving strategy and change through insights and building a data-driven culture through data literacy. While making findings and data useful and putting them into action, storytelling with data and data collection quality/reliability were outlined as their biggest challenges regarding data and analytics.

During a panel discussion on the survey’s findings, Chief Digital Officer at Chip Mong Group Francois du Toit said, “If we [Cambodia] stop the journey of digital transformation we are going to get left behind and then it is going to be very difficult to catch up so we have to start now.”

“Cambodia needs to invest more in upskilling its local workforce to truly embrace digital transformation across the country.”

Managing Partner of Mekong Big Data and DataU Oojal Jhutti told Khmer Times that by focusing training on both hard and soft skills companies can create perpetual behavioural change, which helps mitigate the high costs of not executing digital transformation projects properly.

“For context, in the USA in 2018 alone over $1.3 trillion was spent on digital transformation projects, of which some 70 percent ($900 billion), was lost because of improper change management that failed to put people and process at the centre of the projects,” he said.

He added that when looking at global benchmarks such as Europe and the USA, and even more regionally in places such as Singapore and Thailand, it’s clear that when it comes to digital transformation and data literacy Cambodia has some catching up to do. “The great news, though, is the opportunities this creates to draw on global insights, best practices and case studies that create a path towards a better, more equipped and more adaptable Cambodian workforce. Like we saw with smartphone adoption in the Kingdom, Cambodians have shown their propensity to leapfrog over the traditionally slower adoption curves we see in the West, to embrace new technologies and workflows much more rapidly,” he added.

Digital transformation is considered a pillar of the fourth industrial revolution (4IR) which refers to a new phase in the Industrial Revolution that focuses heavily on interconnectivity, automation, machine-learning, and real-time data.

The Cambodian government has placed 4IR at the heart of the fourth iteration of the Rectangular Strategy of growth, employment, equity and efficiency with the national medium-term development strategy and activities in this area already initiated across various ministries.

Both the government and developmental agencies have also stated that barriers for Cambodia adopting 4IR include a lack of awareness of digital technologies and their benefits, the perceived high costs of new technology, a reluctance to use it and then skill gaps caused by limited access to training and technical assistance.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: Cambodiadigital transformation in Cambodia
Previous Post

Export value in four special economic zones in Cambodia reached about $680 million in 8 months

Next Post

Prime Minister Hun Sen seeks more investment from the US

Related Posts

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

by Khmer Times
July 3, 2023
0
95

Neak Poan Temple is one of the most attractive tourist destinations among the ancient temples, which is located along the...

Cambodian pepper gains direct export rights to China

Cambodian pepper gains direct export rights to China

by Khmer Times
July 3, 2023
0
76

The Chinese Embassy in Cambodia announced today that Cambodian pepper has completed all export procedures to China, which means can...

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

by AsiaOne
June 14, 2023
0
102

One of South Korea's top livestreamers was recently found dead in Cambodia. Byeon Ah-young's body was discovered — wrapped in a...

Most Popular

$2 million electric motorbike assembly plant in Cambodia by Verywords Co Ltd launched

$2 million electric motorbike assembly plant in Cambodia by Verywords Co Ltd launched

May 30, 2023
48
Japan jeers at ‘terrifying’ mascot for Osaka World Expo: ‘Who approved that monstrosity?’

Japan jeers at ‘terrifying’ mascot for Osaka World Expo: ‘Who approved that monstrosity?’

May 11, 2022
21
EZECOM first to collaborate with AWS to provide leading Cloud service for Cambodia

EZECOM first to collaborate with AWS to provide leading Cloud service for Cambodia

March 15, 2022
43
Cambodia Rice price could rise up to 20 percent in coming months

Cambodia Rice price could rise up to 20 percent in coming months

May 25, 2022
62
Eva Premium Ice is looking for distributors as it expands in Cambodia

Eva Premium Ice is looking for distributors as it expands in Cambodia

November 12, 2021
30
Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

June 14, 2023
102

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!