The year 2020 has showed businesses why it is important to be prepared for any scenario. The pandemic brought about big changes in not only operations but also the mentality of business leaders. With the year 2020 in its final quarter, here’s a look at why leaders should have a preplanned Digital Transformation strategy for 2021.
Let’s address the elephant in the room! Yes, this pandemic has probably provided the biggest learning curve this generation’s leaders have probably seen. The challenge of first shutting down operations, then reopening with safety and finally ensuring the health of the business and the people involved is not affected. Physical restrictions have not been able to restrict communication thanks to the use of technology. Video calls and conferences have become the new norm in this work from home era! Platforms like Zoom, Netflix, Disney+, saw millions of new users in a matter of months. Yet, MNCs have reported that employees have actually been more productive in the lockdown; working from home. Trends suggest this is going to be the way forward.
All these changes mean businesses need to have a digital environment in place which provides all stakeholders, an infrastructure to be able to manage processes and optimize workflows. Right from building an online store for sales and partnering up with a logistics service provider for shipping and returns to implementing cloud-based ERPs for workflow management and buying project management tools to meet KPIs, businesses aim at leaving no stones unturned to maximize productivity and monitor operations in real-time.
With the increased use of all digital processes it is obvious that there is a huge spike in exchange of existing and generation of new data. Managing this data is absolutely critical for any business. If interpreted correctly it can give leaders an insight at the vitals of their business. Collecting, storing, monitoring and analyzing this data is of utmost importance in the years to come. Also, making sure this data is secure key for the organization. With digitization of businesses, the world becomes a small place and trades take place globally, manually managing all this data is next to impossible and will lead to loss of business.
With the Internet of Things and Industry 4.0 being the buzzwords in 2020, AI-based technology is the next big thing in the business world. Everything from televisions and phones to washing machines and even cars is now termed as smart due to their capabilities. All this involves data in large volumes. Observing trends is what big players look to do and data is a new currency. Managing all this data requires an apt infrastructure. Integrating systems with the help of various enterprise-level solutions is critical to any business’s growth.
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Captivix is a leader in Digital Transformation. We are committed to providing solutions for businesses that help them improve productivity, lower costs, and scale profitability. Partnering up with businesses from around the world, we have helped over 100 companies in designing and implementing their Digital Transformation strategies.
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