Digital technologies fuel the modern world. They connect people and create new and exciting opportunities in ways that up until now could only be imagined. As exciting as these advanced technologies are, they’re also happening at a pace humans and businesses have trouble keeping up with. And while the COVID-19 pandemic has made it clear how necessary digital transformation is to businesses surviving and thriving, many organizations aren’t as ready as those who embraced digital early on. Is your business prepared for a digital world?
How the Pandemic Has Accelerated Digital Transformation
For many U.S. CEOs, the pandemic has accelerated digital transformation by months and for many more, likely by years. It’s been ten months since McKinsey reported businesses were scaling their digital initiatives in days and weeks, not years. And this widespread adoption of new digital business models is expected to be permanent.
Of course, a digital mandate isn’t new. It’s just that the pandemic has brought it into sharper focus. Pre-pandemic, a shift toward digitization was already occurring, but current events have significantly speeded up the process. As businesses strive to maintain or return to profitably, they’re relying on innovative technologies to help customers and employees alike.
What Businesses Have Learned and How They’ve Benefited
One of the most significant challenges companies report is having had to move so quickly, often without the necessary capital and human resources they need. Another hurdle to accelerating digital transformation was the difficulty in making fast tech-related decisions. Still, respondents in the McKinsey survey report at least 80 percent of their customer interactions are now digital in nature and many say they’re investing in more software tools to meet customer expectations.
Along with allowing them to survive significant health and economic crises, benefits to digital transformation have included a realization that business operations didn’t have to work perfectly before being adopted. Finding and implementing solutions that simply allowed them to keep running, particularly those related to remote work, helped drive home the point transformation could be a top focus. Organizations have also been forced to prioritize making it easier than ever for customers to engage with them digitally.
Looking Ahead: Adjusting Digital Strategies
In the pre-pandemic world, most businesses called upon their digital capabilities far less often than they do today. In the future, they expect to invest even more resources in technologies that line up with their digital vision. They’ll need to be diligent about investing in software and other tools that aren’t redundant but still ensure each department’s needs are met.
Automation holds tremendous promise for improving the customer and employee experiences. And since more technology brings more risks, there will be more investment in cybersecurity initiatives, especially those that apply to a remote workforce. And as businesses continue to eliminate the obstacles that once stood in the way of their digital transformations, it will become easier for them to operate on a remote basis.
Many organizations now realize adopting digital transformation is not merely about saving money but also gaining a competitive edge and seizing new opportunities. As more and greater advantages are realized, they’ll find themselves perfectly positioned to compete in an increasingly complex digital environment.
For businesses new to digital transformation, managed IT services can support their efforts while saving them from making significant investments in new software, hardware, and human resources. It’s a great way to level the playing field, allowing resource-strapped companies to compete virtually anywhere in the world. Download our “Business Guide to Digital Readiness in a Post Pandemic World” to learn more.