Digitization needs to be led by the individual who understands the value of digitization and is cognisant of the business goals of the organisation.

According to SME Bank Group Chief Digital Technology Transformation, Hairil Izwan Abdul Rahman said every leader in the digital business must know and understand which technology can help to expand their business and to upgrade and digitise the business to suit the changing economic landscape.

A digital business no longer needs business premises, it would be more economical, and leaders only need skills in the latest technology.

"So that is why we have to know which technology suits our business and we need to understand our business as well as understand the current business (landscape) and future opportunities," added Hairil Izwan.

It is imperative that the leader of an organisation is aware of the various in realising your business goal and be aware of the best practices too. It is essential that you know your market and how to reach them be it through social media or direct mail. Business leaders also needs to know about the various agencies such as MDEC and SEDA that are there to provide support in both the digitisation as well as business expansion perspective.

It is also imperative that the leader inculcates good business processes and practices in the organisation to ensure the maximisation of existing and future opportunities.  One such example would be when your business expands and it is in need of funding, optimum funding can only be obtained if the business accounts are accurate and are truly reflective of the organisation's overall real potential. In addition, a leader must ensure all the necessary people, processes and technology are set in place to support the overall objectives of the organisation.