Now more than ever, with the on-going pandemic and businesses at a standstill, organizations need to shift their focus to adopting innovative technological solutions and incorporating digital transformations. It is important that organizations incorporate them into their everyday work to create long-term sustainable income and combat immediate challenges deriving from economical, technological and social changes.
The last few years have been revolutionary for organizations that strategically prioritized innovation and digital transformation. With the ever-evolving industry and shift towards automation, it is predicted that enterprises of all sizes will be adopting digital technologies. Although the importance of these changes are based on the priorities of the enterprise, here are a few alterations tech enterprises should deeply consider and incorporate in their post-Covid-19 digital transformations.
As indicated by the Flexera 2020 CIO Priorities Report, transformation is occurring rapidly and picking up momentum as the year continues. Some of the driving forces for these enterprises to inculcate these digital transformations to their team can be inferred from the survey conducted by Flexera which reveals that 93% of participants noted that consumer experience was the focal point in their digital transformation. The next three priorities are- improving existing products or services, creating new products or services, and growing new markets.
Connected and Personlized Consumer Experience
Enterprises who aspire to elevate and persevere through the current uncertainty need to shift their focus to creating connected and personalized consumer experiences. Using many applications can act as a barrier to providing a simplified, omnichannel experience to consumers across various platforms. It is crucial for enterprises to prioritize creating an integrated and consistent experience for consumers when crafting digital transformation plans. The goal should be to eradicate difficulties faced by the consumers from beginning to end and to be more accessible so that the needs and expectations of consumers can be met in a timely manner.
Boost in Business-Led IT
The focus on creating a more connected and personalized experience has obligated CIOs to heighten the presence of IT in their innovative strategies. It is believed that it will take time for enterprises to amalgamate IT with business operations but 65% of CIOs are vigorously adopting business-led IT fully or moderately. In response to business-led IT, CIOs have divided the funding received among two clashing priorities: ensuring smooth daily operations and promoting innovation and growth. According to the Flexera 2020 CIO Priorities Report, the central IT department is allocating around 36% of funds to growth and innovations while the remaining amount is being used to run the enterprise.
Shifting to Multi-Cloud or Hybrid Computing
With the operations being shifted to remote working or operating with limited workforce due to COVID-19, enterprises will have to make a shift towards creating an Omni-cloud platform for its employees through multi-cloud or hybrid computing. This will allow employees to exchange information and have a single platform to communicate while minimizing the loss of information between transmission and reducing miscommunication. The enterprises might face challenges related to shifting the workload onto cloud computing software. To resolve such challenges API-led applications, micro serves, dockers, and other software are being used.
Integrating Advanced and Disruptive Technology
In the process of transforming their enterprises digitally, CIOs are integrating advanced technologies like multi-cloud, artificial intelligence, automation, and blockchain into their daily operations to increase flexibility, reach, agility, and ease of remote working.
The integration of advanced and disruptive technologies along with cloud computing requires a deep understanding of these systems which many enterprises lack. Many CIOs are addressing this issue with diverse solutions such as providing its employees with opportunities to upskill and re-skill their current employees or even take on a completely different job title that better relates to their current skill set.
EY Center for Board Matters has created a strategic list of eight priorities for their enterprises to focus on in 2020:
- Prepare a strategic plan for growth with the increased uncertainty caused by COVID-19.
- Expedite the agenda of talent and mobilize culture as a critical asset.
- Expand the use of an enterprise risk management system.
- Prioritize data privacy and cybersecurity to help build trust.
- From a strategic context, address geopolitics.
- Adopt ESG as indispensable for business.
- Reconsider their long-term values and communicate them better with all the stakeholders.
- Implement a continuous enhancement policy in board effectiveness.
Technological advancements have infiltrated every aspect of enterprises so CIOs are considering building an experience fuelled by curiosity and buzz brought forward by themselves, technology, and their employees. This means that CIOs have the added responsibility of choosing the appropriate tools to help achieve this.
The post-COVID-19 world holds a lot of mystery, but it looks promising for CIOs and their IT teams that digitally transform their enterprises and integrate technologies to help increase efficiency, reach, and agility. Making these strategic changes a priority will ensure the enterprise will stay afloat in the long run and come out on top in times of this uncertainty. During this process of transformation, the enterprises might face multiple challenges, but CIOs will have to push through. This can be done by continuing to take measures in varied areas like adoption of advanced technology, helping employees upskill, retaining quality employees, adequate allocation of budget, and ensuring continued efforts to achieve maximum results.