According to an IDC survey on the value of Digital Transformation & IT, the drastic impact of Covid-19 has boosted the importance of Digital transformation across almost every industry. They surveyed CXOs from over 10+ industries who confirmed that there was a substantial drop in the sales since the companies could not continue to work normally during the period.
Whereas the remote working structure made the corporate realize the real value of digital transformation and information technology, also they understood the importance of online marketing and business development as both made an impact. Overall, the performance of online selling was better than offline.
What you have to do to get started with Digital Transformation?
First of all, strategic thinking with a proper plan is required. You need to monitor the new digital solutions and adapt accordingly. A digital culture will help you define your way ahead and help you push towards the transformation journey. For a mid-sized or big enterprise, you need to focus more on being customer-focused as it will help you to implement digital transformation within your company. It’s better to make your customers the driving force behind technology. You also need to understand, developing digital projects takes time. Team management between project development is too time-consuming. Overall, do have a digital vision and proper planning and execution strategy to get started with digital transformation.
Will Covid boost Digital Transformation?
In recent months, as the Covid situation continued getting worse, the companies started opting for different strategies to overcome the obstacles faced and also stay ahead of the competitors. Due to lower customer demand, many companies will fail to achieve their financial targets. The organization that invests in the digital transformation of its business may succeed & minimize the impact of the covid situation.
To conclude, in the longer run, companies that move to digital will be much more profitable than those who do not opt for transformation. Let us know what you think about the covid effects on digital transformation in the comment section below.