“Data is providing the fuel to power informed, accurate and faster decisions. One of the key pillars of digital transformation is the conversion of records or data into a digital format, and the ability to extract or mine the information to generate results – and decision-making – in real-time. It’s about using digital technology to find better, quicker ways to solve problems with data.”
Johannes Groenewald, General manager, Tarsus Technology Group
Johannes Groenewald, General manager, Tarsus Distribution
Before COVID-19 hit, digital transformation moved at a slow pace. The focus was primarily on processes, products and employee experience. Come March 2020, business leaders were forced to prioritise their IT initiatives and increase digital investments. Attention moved to external services that would keep businesses afloat by meeting customer demands during hard lockdowns.
As companies continue to adjust to our emerging new world, and rapidly evolving customer expectations, digital transformation is on an upward trajectory. According to a McKinsey Global Survey, responses to COVID-19 speeded the adoption of digital technologies in customer and supply-chain interactions and internal operations by three to four years.
Companies need to integrate sustainability strategies into their digital transformation roadmaps. That’s according to the World Economic Forum (WEF), which reported that leaders need to create sustainable digital enterprises – organisations that put people and the planet at the core of their digital transformation strategies while still taking care of stakeholder priorities.
The Forum says that companies that invest in sustainability generally find that improved resilience, better operational performance and business success follow. Redirecting capital toward sustainable companies, government incentives for sustainable activities, customers showing preference for sustainable products and services and employees demanding sustainable leadership, will improve our readiness for the future says the WEF.
Data is providing the fuel to power informed, accurate and faster decisions. One of the key pillars of digital transformation is the conversion of records or data into a digital format, and the ability to extract or mine the information to generate results – and decision-making – in real-time. It’s about using digital technology to find better, quicker ways to solve problems with data.
With competitors hungrier than ever before, data-driven business are the ones that will survive, because their leaders believe in the potential of data to bring about real and actionable change and growth.
Companies that experience positive revenue generation generally collect more customer experience data than others, enabling them to analyse the data and draw new insights. In turn, this allows for new waves of innovation. Why? Because operating faster, whether it’s reviewing strategies or allocating resources, gives businesses the edge over slower competitors.
In the midst of a global pandemic, the silver lining for big enterprises, small and medium-sized businesses, and everyone who had to work or study from home, came in the form of improved internet speeds. Network reliability and speed is a key enabler of digital transformation. Since March 2020, networks have kept people productive and connected at work, and informed and entertained at home.
Truly digital ready networks are able to align with the fast and ever-evolving needs of businesses, allowing for greater agility, speedier innovation and increased operational efficiency. They are also able to ensure enhanced cyber security in an environment in which threats are escalating.
The backbone of connectivity across multiple devices, applications and clouds supports digital enterprises and allow businesses to evolve and adapt. The right network architecture continues to be transformative in increasing agility and efficiency, making it possible to navigate disruption and change.
References:
https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/how-covid-19-has-pushed-companies-over-the-technology-tipping-point-and-transformed-business-forever
https://www.weforum.org/agenda/2021/03/here-s-how-digital-transformation-and-sustainability-can-flourish-together/
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