Digital Readiness

A rapid acceleration in digital transformation came about at a swift pace when the COVID-19 pandemic hit. Many businesses were forced quickly to adopt new ways of doing business in the digital space - embracing remote working, online transactions, and digital interactions with customers. The demand precipitated a significant escalation in businesses implementing digital initiatives at an inconceivable rate not seen before.

A McKinsey & Company survey "How COVID-19 Has Pushed Companies Over The Technology Tipping Point—And Transformed Business Forever." [October 2020] reports the adoption of digital technologies has been greatly accelerated - up to an astonishing seven years. And this rate doesn't look like slowing. Initially, many businesses had to act swiftly, implementing solutions to progress business forward in uncertainty. What seemed like a temporary fix at the time has become our new normal as the pandemic continues to change how we live, and reshape how we do business.

Digital readiness is even more important moving forward. Organisations can no longer do things the way they used to. The new pace of the new normal has transformed business and now that we know how quickly we can move - implementing digital initiatives, products, and services - we need to be able to keep this rate of pace and connect with new digital ways of doing business.

Now is the time to reflect on new practices, emerging ideas, and embed digital best practice strategies for long-term business resiliency. Bringing the future forward rather than waiting for it to come to you, as Claire Sangster of Business News frames it. The way businesses engage has changed and therefore the way they think about engaging needs to change.

How well does your current digital strategy meet the new normal?

Image Credit
Photo by Marvin Meyer on Unsplash

Disclaimer
We are not responsible for views expressed on external links.