Companies Dedicate Less than 30% of their Tech Spends on Digital

By Consultants Review Team Tuesday, 18 June 2024

According to a research provided by Dassault Systemes and nasscom, over 57% of Indian firms spend less than 30% of their IT budget on digital initiatives. A research on the use and effect of virtual twin technology was launched on Monday in Bengaluru.

Digital twins are computer-generated representations of a physical product, process, or system. It might apply to a single component, a product, a process, or an entire system of activities. These are digital versions of physical assets constructed with software, IT-OT hardware, and connection to control the asset throughout its existence.

According to a research provided by Dassault Systemes and nasscom, over 57% of Indian firms spend less than 30% of their IT budget on digital initiatives. A research on the use and effect of virtual twin technology was launched on Monday in Bengaluru.

Digital twins are computer-generated representations of a physical product, process, or system. It might apply to a single component, a product, a process, or an entire system of activities.

These are digital versions of physical assets constructed with software, IT-OT hardware, and connection to control the asset throughout its existence.

According to the survey, more than half of firms have patchy digitization, with only core functions digitalised but in silos, hindering effective RoI implementation. Furthermore, fewer than one in every five businesses has used advanced process automation, with the bulk relying on RPA.

Approximately 63% of Indian organizations have used virtual twins at the product or process level, with the bulk of them (40%) at the product level.

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