Blogs/ DIGITAL TRANSFORMATION
In today's world, changing technology, modernization, and digitization of business operations is a leading concern for most organizations with progress happening at dizzying speeds. The up-gradation of tools and processes has carved out a permanent process niche for itself.
For businesses racing to remain relevant and at the top of their game, the pressure is on.
The COVID-19 pandemic has placed more pressure on corporations to continue to transform digitally with everything moving from offline to online. The economic recession has driven businesses to accept remote workforce structures and change recruiting models. Digital innovation activities are accelerating pandemic-inspired challenges, and global digital technology and services investment is projected to rise by 10.4% for the year 2021.
Businesses that were digitally prepared were able to bounce back and the businesses unable to switch their models will struggle to survive in an unpredictable economic climate. The volatility created by COVID-19 has more than ever shown that organizations need to be flexible and adaptable if long-term performance is to be achieved.
What does all this mean for 2021 and beyond, particularly as the world begins adapting to what is now the new normal? We look at the changing definition of digital transformation and identify the core components that will decide the industry's future for years to come.