We have witnessed a rapid movement towards digital adoption during the last year from seeds planted long before the pandemic started. Since the turn of the millennium, the growing convergence of previously discrete information and communications technologies, alongside the growth of the internet, has driven the notion that organizations needed to transform themselves in order to take advantage of the vast opportunities emerging.
The basic idea is simple: transform services and processes through the adoption of digital technology that replaced non-digital legacy technology as well as previously manual processes. Over the recent years, we have become aware of the promise of digitized data and automated processes, namely:
- Greater management and operational control as a result of accurate, relevant, and real-time reporting
- Reduced cycle times and operating costs, and faster customer fulfillment due to straight-through processing
- Just-in-time inventories and customer pull-driven production as enabled by integrated supply chains
- Customer analytics that not only forecasted customer demand trends but also influenced and shaped that customer demand and
- Innovative ways of doing work such as distributed workforces, multi-channel collaboration, and crowdsourcing
While local business leaders have been aware of these enticing promises before, they did not pay much attention to them because they believed that realization will be years, if not decades, away. The pandemic changed all that. Of late, we are seeing business focus shifting towards digital transformation and a “new normal” as a response to the jarring disruption that the crisis has triggered. As more and more business owners and executives realize that the emerging normal will be starkly different from the pre-COVID world, the window for businesses to begin reframing for the future is right now.
Are you ready for your upgrade?