The current crisis – COVID19 has severely disrupted the enterprise world within a short period of time. Sectors are shutting down, and several businesses are adopting partly inactive mode to concentrate on business continuity plans and consumer-critical operations. This is the real-time for Digital Transformation 2.0 – more logical, functional, and impact-focused things to happen soon. This is what the earlier version of Digital Transformation lacked, particularly considering its unfortunate track record of success. Before heading to below, you can have a look at the top digital transformation influencers list.
Digital Transformation 1.0 – Pre-COVID19 & During COVID19
Initially, the COVID-19 coronavirus pandemic sent businesses across the globe scrambling to keep the lights on while pushing hundreds of thousands of workers out of the workplace to operate from home. These clients relied heavily on the channel for the tools they needed to make remote work possible, such as solutions for networking, security and collaboration. Currently, however, investors are looking at the long-term prospects and tech transition that will result from the pandemic.
Because of the pandemic, 35% of solution providers surveyed in April reported expecting their product reselling business to have a significant negative impact compared to 60 percent of solution providers who expect either no impact or positive impact on their managed services business. Most of the businesses are looking towards managed services, cloud, protection and work from home solutions Post-COVID.
Awareness, Planning & Executing
Awareness is the biggest game-changer right now. There were no financial challenges – many of the digital innovations were well-financed. Hence, enterprise digital teams are “chasing” opportunities, and creating busywork that creates minimal value. It is a known fact that Industrial firms have poured billions of investments over the past few years in technology and digital transformation initiatives.
To several, the lack of emphasis has resulted in numerous defeats and false beginnings. Now, everyone has an idea what to do towards a profitable business. Most of the business are founded as parallel institutions suffering from a lack of transparency, leadership, and some degree of disconnection from the core company.
The future will only be about fluidity, agility and clear accountability to stakeholders in the business. Unnecessary complexity should be removed – that is a vital step towards matching market dynamism. It’s no wonder that some of the world’s biggest companies already realize the growth of Digital Transformation. They have already developed the related business models and started innovative digital solutions cooking in their labs. The Internet of Things (IoT), Artificial Intelligence, cognitive computing, machine learning, advanced robotics, 3D printers, wearable computers, VR, AR, voice-operated interfaces, blockchain, and autonomous vehicles are added to the 21st century emerging innovations list.
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The disruptive forces that bring about change are only accelerating, and therefore the solution is forceful action. If companies want to mitigate the consequences, and even capitalize on them, they must act accordingly.
When management says that the company does not need to introduce new technology transformation because it is already technology, be suspicious and ask if they have been supported by a CRM for Barnes and Noble? This is the way you can analyze a company and its workflow.
The COVID-19 crisis is an unparalleled one in human history and caught up with a major unwelcome impact in the world effecting many people & industries. The biggest challenge for the global economy was to maintain the stability of business in the midst of lock-down, social isolation and other obstacles. Although other companies were better prepared — other initially puzzled but ultimately tackled it — relaxation grumbled and resigned to the situation, waiting for it to conquer.
As an entrepreneur/ businessman, you should adopt to new technologies and move on giving the best of best to customers.