Dr. Reddy’s Laboratories and Union Bank of the Philippines recognized for building their technology strategies around customers to fuel business growth

SINGAPORE, September 21, 2023 — Forrester (Nasdaq: FORR) today announced that Dr. Reddy’s Laboratories and Union Bank of the Philippines are the winners of its Technology Strategy Impact and Enterprise Architecture Awards for Asia Pacific, respectively. These awards, which will be presented at Technology & Innovation APAC, recognize both organizations for executing technology strategies that enable their business to be more adaptive, creative, and resilient — accelerating business growth and driving customer outcomes.

Dr. Reddy’s Laboratories, a global pharmaceutical company headquartered in Hyderabad, India, has received Forrester’s Technology Strategy Impact Award for implementing a technology strategy that drives business value. As a cloud-first company, Dr. Reddy’s has developed an agile governance model, allowing the firm to plan and allocate resources meticulously to drive quantifiable outcomes. Additionally, its tech stack also allows Dr. Reddy’s to deliver a transformative customer experience.

Union Bank of the Philippines (UnionBank), a publicly listed universal bank, is this year’s recipient of Forrester’s Enterprise Architecture Award, presented in partnership with The Open Group, author of the TOGAF® standard, which was developed by The Open Group Architecture Forum. With less than half of the Philippines’ adult population participating in the formal financial system, UnionBank aims to close this gap and has started doing so as it doubled its retail customer base to 10 million users in the past three years by investing in digital transformation grounded in a strong enterprise architecture foundation. UnionBank also improved its strategic planning and investment processes, created new products in an agile manner, and established a dedicated risk architecture.

AIA Group, Macquarie’s Banking and Financial Services Group, and United Overseas Bank, Singapore are the finalists for Forrester’s 2023 Technology Strategy Impact Award for Asia Pacific. Finalists for Forrester’s 2023 Enterprise Architecture Award for Asia Pacific include CLP Power Hong Kong and Virgin Australia.

Forrester Technology Award recipients will share their success stories at Technology & Innovation APAC, taking place in Sydney, Australia, and digitally, October 31 – November 1, 2023. This is a leading event for chief information officers, chief technology officers, chief digital officers, and other technology leaders to learn best practices and tools to home in on the technology strategy best suited to fuel their business growth.

“With emerging technologies constantly disrupting the business landscape and challenging industry norms, Forrester’s Technology Awards seek to recognize technology teams that build customer-focused strategies that drive growth and help them stay ahead of their competition,” said Frederic Giron, VP and senior research director at Forrester. “This year’s award winners demonstrated adaptivity, creativity, and resilience as they harnessed technology to enable their organizations to reconfigure business structures and processes to meet future customer and employee needs. We look forward to celebrating these trailblazing organizations at Technology & Innovation APAC.”


  • View the full conference agenda for Forrester’s Technology & Innovation APAC and register to attend.
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  • Learn more here and here about how this year’s Technology Award winners and finalists are executing customer-driven technology strategies that fuel their business.
  • Discover how technology leaders can build a tech strategy and architecture to deliver on innovation.
  • Download the Planning Guides 2024 for technology executives and tech architecture and delivery leaders for research-driven insight on the areas Forrester has identified for investing, divesting, and experimenting when budgeting for 2024.

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