The COVID-19 outbreak has not been easy for anyone. The world and the global economy is at a standstill. Half of the world’s population has been on complete lockdown for over 50 days. Empty roads, shuttered shops, and silence all around have started to feel normal now. The world awaits a return to normalcy, which does not seem anytime soon. Let’s admit our lives will never be the same post-pandemic. The definition of normal is put to the test every step during the lockdown.
It’s not just the consumers who are facing difficulties during these testing times. The global pandemic has left an inevitable impact on businesses of all sizes, especially the ones with little or no digital presence. It has forced them to consider new strategies and reconceptualize their business model as they await the resumption of business. Social distancing and closed shops have forced many business owners to accept the new normal and formulate strategies around them to succeed in the coming years.
The critical questions here are, what should these strategies include? How can they resolve the challenges faced with the outbreak of the pandemic? What opportunities have transpired during these tough times?
Simply put, let’s all accept most of the businesses were not ready for such a crisis. With the world coming to an abrupt halt, countless companies are struggling to survive. The past few months have been fundamentally challenging for businesses. And this has resulted in a drastic change in consumer behaviour and demand patterns. The recovery from such a calamity is going to be a long and arduous process. Businesses are aware of that. From identifying revenue opportunities and rebuilding operations to developing an agile and smart business model, companies understand that the return after COVID-19 is a step by step process.
For most businesses, digitisation has become an utmost priority. Digital transformation, which was long overdue, was a strategy that many companies had planned for the future. Some were already in the process of making the shift to the digital domain. However, the sudden lockdown and social distancing protocols forced businesses to fast-track the process.
Is Complete Digital Transformation The New Normal For Businesses?
The aftermath of the pandemic is sure to last for a while. People will still be cautious and would want to maintain some form of social distancing. And this will create a direct impact on business operations. So, how do you ensure your business stays afloat? By embracing digitisation, scrapping your current business model, and building a new one from scratch. Adaptation is the key to success, and the speed at which businesses can adapt would define those who survive and grow.
These past few months have been proof of how vital digitisation is in today’s technologically advanced age. The demand for remote or virtual working, digital interactions, online transactions, and even buying essential goods continue to rise rapidly. Businesses now not only have to cater to the needs of the consumers but the employees as well. And this has led to many businesses to shift to digital methods overnight. Work from home is a classic example of how IT companies are adapting to continue to deliver services without any hindrance in service levels.
At present, there are almost 4.57 billion active internet users worldwide. That’s 59% of the global population. It only proves that businesses should start focusing on their digital transformation strategies if they want to gain a competitive edge during these conditions.
The global pandemic has forced businesses from every industry to focus on complete digital transformation to survive.
A Finnish-Russian industrial digital solutions provider, Zyfra, said in a report on Wednesday that Indian and Russian companies from the machinery, metallurgy, mining and oil and gas industries need to concentrate on expediting their digital transformation.
How Can You Fast-Track Your Digital Journey?
As per the 2020 global CIO survey, the pace of change in digital transformation will increase significantly. But accelerating the digitisation process for a business is not as easy as it may seem. Here are some pointers you can consider to expedite your business’s digital transformation.
- Refocus and reevaluate their digital efforts to match the ever-changing consumer expectations.
- Examine the setbacks that delayed the process earlier.
- Use data, AI, and IoT to manage operations adequately.
- Boost the productivity and speed of digital solutions.
- Improve end-to-end value-chain digitisation.
- Create a business model that accelerates digital adoption.
The Bright Side To The Global Pandemic – Digitisation
As they say, disruptions should never stop a business. It only opens doors to new ideas and opportunities. The silver lining in these circumstances is the complete digitisation of companies.
Thorough digitisation will be highly beneficial not just for businesses but for consumers across the globe. It helps deliver impactful consumer interaction which in turn enhances the customer experience. Companies can also introduce more intuitive and efficient office applications that help employees work remotely and conveniently. It will definitely enable businesses to set strong foundations for long-term success.
Click here to learn how we can support your business during this global outbreak. Let us help you expedite your digital transformation.