KUALA LUMPUR, MALAYSIA - Media OutReach - 18 July2019 - A study by Workday, a global leader in enterprise technology for financeand human resources, has found that Malaysian companies are leading in AsiaPacific in quantifying the return from their digital transformation initiatives,with 58% of C-Level executives seeing measurable returns. By comparison, only47% of companies in Singapore and 34% in Japan had seen returns.

Workday, President Asia, Mr Rob Wells, addresses business leaders at Workday's Discover Malaysia in Kuala Lumpur today.

The study titled "DigitalDysfunction in Asia Pacific" was conducted in partnership with IDC AsiaPacific, and looks at the barriers to digital transformation from theperspectives of 1,000 C-level Executives and business leaders in HumanResources (HR), Finance and IT. The findings come as the Malaysian governmenthas announced commitments to digitalisation this year and driving the Malaysiandigital economy forwards. Malaysia's digital economy is projected to contribute21% of its GDP by 2022.

When looking at the keychallenges to digital transformation, almost half (49%) of C-level executivesin Malaysia see organisational silos as a key challenge -- an environment where acompany's departments do not share operational information with one another. Frustrationwith organisational silos was also felt by the other business leaders surveyed,with 73% of HR leaders and 54% of IT leaders in Malaysia highlighting this as akey barrier to transformation.

When it comes tomeasurement, more than two-thirds (69%) of C-level executives in Malaysia saythey do not currently have a balanced scorecard approach to align and measure digitaltransformation initiatives. 47% of C-level executives also cite a lack ofcommon technologies and shared metrics as key barriers to cross-functionalcollaboration, with more than one third (34%) saying their organisations needto invest more in technology.

More than half (52%) saythat their digital transformation initiatives are uncoordinated, with threequarters (73%) of HR departments lacking implementation plans for digitaltransformation, along with half (50%) of finance teams and 38% of IT teams.

From the perspectives of HRand finance leaders, almost all (93%) of HR leaders and 80% of finance leadersagree that an integrated HR and finance technology solution is needed forgreater visibility -- the highest in the Asia Pacific region. One in five (20%)finance teams and 13% of HR teams in Malaysian companies have systems which arefully integrated and have been successfully transformed -- which was similar toother countries in the region.

RobWells, President, Workday Asia, said, "As Malaysia's digital economy rapidlyexpands it is great to see that local companies are keeping pace and leadingthe region in their efforts to digitally transform. Despite this success, therestill remains work to do to break down company silos to effect change at an enterprise level.

"Investments in technology canhelp companies disassemble information silos and reimagine the business in away that allows an organisation to stay competitive in adisrupt-or-be-disrupted world. The advent of cloud technology in Financial andHR management will allow business planning to be more strategic, collaborativeand real-time, especially if brought together in one single system for maximumbenefit."

Daniel-Zoe Jimenez, AVP& Head of DX, Future Enterprise & SMB, IDC Asia Pacific,said, "The survey results areconsistent with IDC's research, and show that while 93% of organisations inMalaysia are undergoing digital transformation, 55% are stuck in their digitaltransformation journey.

"The key theme that comesthrough in this research is the lack of collaboration and integration amongdifferent functions across the region. Digital transformation is a team sportand requires strong support from the top and close collaboration among teammembers, from HR and Finance to IT and digital teams. Key investment in theright technologies will help both increase employee and finance visibility anddrive cross departmental collaboration, accelerating digital transformationsuccess."

About Workday

Workday is a leading provider ofenterprise cloud applications for finance and human resources.

Founded in 2005, Workday delivers financial management, human capitalmanagement, and analytics applications designed for the world's largestcompanies, educational institutions, and government agencies. Organizationsranging from medium-sized businesses to Fortune50 enterprises have selected Workday.