Ironically, COVID-19 has proven as a bearer of both decline and growth. For the first time since the Great Depression, both advanced and emerging economies are in recession – IMF has labelled it as The Great Lockdown. Yet, business activities are taking place at an unprecedented rate, and affected economies are expected to recover by 2021, partially.
For a couple of months, we have witnessed a sudden shift, be it economical, societal, personal, or on a corporate level. Organizations are taking digital, automation, and virtual initiatives to ensure business continuity, and sustain customer interactions. It depicts that businesses are going through what looks like a once-in-a-generation shift. Although the future remains uncertain, it is evident that it will be digital.
For customer satisfaction and engagement, businesses have identified new means of communication – from healthcare professionals, academics, to the retail sector and beyond, people are redefining their approach to adapt to the new normal.
The majority of the companies were already working on years-long digital transformation roadmaps, and over these few months, those plans were compressed into weeks. According to a Twilio survey, 97% of over 2,500 enterprise decision-makers believe that COVID-19 is behind their accelerated digital transformation. Solutions based on cloud, scale, and agility are enabling businesses to innovate faster and are establishing a standard for digital engagement.
Four sectors have gone through radical shift: telecommuting, on-demand food and services, cloud, and virtual events. Digital transformation has become vital; if businesses can’t alter the way their products and services are delivered to customers, they might be on the verge of being replaced.
The fragile nature of supply chains is exposed during this crisis, and now companies are reshaping the future of supply chains by adopting cameras, sensors, and the Internet of Things (IoT) that enable stable and sustainable ecosystems. Virtual doctor visits, online therapy, remote patient monitoring, camera-aided surgeries, and use of healthcare robots have surged in this age of limited to no contact. White-collar workers have shifted their workstations from skyscrapers to their homes and are relying on cloud and videoconferencing technologies. Whether it is employee training or executive communication, video streaming has replaced conference rooms. People who were once hesitant to shop online are now ordering groceries and everyday essentials from the internet.
We can see that the employee is now remote, but so is the potential customer. Most of the retail stores functioning on outdated business models have filed for bankruptcy. So, what does the future hold for brick-and-mortar stores?
Though there is a significant decline in customer footfall, this doesn’t mean retailers should abandon the in-person shopping experience. From eCommerce stores to live commerce, retailers are revolutionizing this industry and shaping consumer behaviour in multiple ways. With a seamless online customer experience and efficient convergence of customer engagement via live chat and digital commerce, retailers have noticed continued growth in digital sales. Moreover, 70% of B2B buyers have reported the effectiveness of virtual sales calls; they feel even with highly customizable and configurable products, virtual sales calls are as effective and efficient as in-person calls.
Based on a report by Forrester, many companies are planning to invest in enterprise automation than in recruiting employees after these unprecedented times. Consumer products, education, financial services, healthcare, retail, and tech companies are adamant about redesigning their work and processes with a keen eye on automation and digitization.
The goal of digital transformation is to provide unprecedented value to customers and solve underlying traditional problems. Although most companies comprehend the magnitude of its importance, others are overwhelmed by the idea of having to revamp their market presence. However, with the right technological partner, digital transformation can bring efficiency to your business processes, increase customer satisfaction, and enable you to stay ahead of the competition.
Given the current COVID-19 situation and the challenges it has brought, organizations are increasingly resorting to achieve efficient and cost-effective operations. Being digital is an emerging trend worldwide and Qatar is no different, as it is directing vast resources and taking the necessary steps toward the digitalization of its infrastructure.
Digital transformation calls for significant shifts in business strategy, corporate culture, operational approach, and a ‘digital first’ mindset. Techvista Qatar, a subsidiary of the Systems Group of Companies has been at the forefront of delivering digital transformation to a diverse client portfolio spanning multiple industries. Being highly functional in global markets, including North America, Europe, and the Middle East, the Group continues to weather the economic crisis caused by the pandemic.
From assisting businesses across the globe to automate enterprise operations, Techvista’s highly qualified experts are fully equipped and capable to meet the digital transformation goals of this era. We are helping businesses achieve sustainable, seamless, and profitable ecosystems.
Now is the time for every company to devise a plan and commit to a harder path of complete digital transformation. A path that will enable them to deal with a world of continued uproar and regular jolts to the systems, where the only way to survive is through continuous adaptation and transformation.
If this is the path you want to follow, contact Techvista Qatar.