Page 65 - CMA Journal (Nov-Dec 2024)

Focus Section

Strategic tech drives are being directed
toward key fields and applications,
including Big Data, Data Visualization,
Data Analytics, FinPros, Product
Management, Quality Assurance, SQL,
Scrum Master, Software Modeling,
SAP/ERP, and UI/UX Design. A
well-executed ERP and IT solutions
strategy would foster competitive
advantages, economic growth, and
profitability across industries, ensuring
alignment with global technological
advancements.
The digital transformation market is
primarily driven by regional demarcations,
with key contributors including the US,
China, UK, Japan, and South Korea,
maintaining an average CAGR of 14.2%.
Growth is influenced by technology
adoption and organizational size, with the
digital transformation market projected to
reach $3,289.4 billion by 2032.

The digital ecosystem is segmented as
follows:
• Digital Transformation
Software Providers – Oracle,
Microsoft, Google

• Value-Added Service Providers –
Cloud Connect, Mecalux, NEC
• System Integrators – Deloitte,
Capgemini, Accenture
In the South Asian region, aligning digital transformation
strategies with global benchmarks is crucial. Achieving IT • Executive Board – Comprising internal governance
transformation and sustainable growth will require gover- leaders, including CFOs, company secretaries, and
nance diversification and corporate empowerment. internal control heads, ensuring effective
Corporate governance should be strengthened through: decision-making.
• Stakeholders Board – The Stakeholders Board is a Collaboration between Infosys/IT enablers and
constituent of the existing board, focusing on transformed corporate boards will enhance business
external stakeholders and ensuring corporate reliability, drive strategic growth, streamline operations,
growth and sustainability. and optimize governance models. With FinTech
integration, corporate boards will evolve into agile,
responsive, and adaptable entities, accelerating digital
transformation across industries.

About the Author: The author currently serves as the Deputy
Manager of Finance at Attock Refinery Limited (Attock Group). He
is a Fellow Member of the Institute of Chartered Accountants of
Pakistan and an Associate Member of the Pakistan Public Finance
Accountants. With experience spanning Chartered Practicing CA
firms, NGOs, and the packaging, textile, and banking sectors, he is
now contributing to team development within the premium
energy sector.

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