As one of the China’s top 10 real estate companies, CapitaLand is making digital innovation the central driver for all its businesses. However, digital transformation faced three major challenges:
•Real estate is not a digital-savvy industry. The benefits offered by digital transformation were unclear, so the company needed a unified vision and consensus on the desired end state.
•Unified business goals had to be defined across the organization to put digitalization at the heart of everything.
•Three separate business priorities needed to be handled at the execution level:
•Restructuring of the traditional IT organization: Move from centralized management by headquarters to a federal approach; promote localization to balance the relationship between branches and headquarters; drive the full breadth of transformation.
•Realizing digitalized operations: Create technical drivers and rebuild business processes to promote digital transformation; add new digital revenue streams to power the changes in business models.
•Building a strong corporate culture: Develop a digital-centric culture, beginning at the C-level.