To be competitive in the “new normal” business and economic environment will require new business and technology strategies.
If we look at the change occurring due to constraints from the pandemic, customers have moved to an online world. The established online services have a head start on the rest. Their competitors, and other businesses, have seen the change, and they are moving quickly in the online or ramping up their online presence.
The move to online shopping has accelerated digital adoption. An article from KPMG states, “during COVID-19, our reliance on digital solutions has never been greater, and I can’t see this diminishing”.
Online customer expectations have become clear. They expect the online transactions to be comprehensive, yet simple to use, and secure financial transactions. The delivery time frames must be fast. For example, for takeaway food, the delivery time has always been short timeframes, but now the expectation is thirty to forty minutes. This rapid delivery expectation has moved to all goods the deliver needed in days, not weeks. These customer requirements have had a flow-on effect to the whole supply chain. So now, both B2C and B2B must move at digital speed.
Globally, digitisation has sped up dramatically. A recent McKinsey article quoted “the COVID-19 crisis has accelerated the digitisation of customer interactions by seven years.
Companies that have been successful in managing the crisis have changed business practices and used a variety of technologies. The question that CIO’s and Executives must ask now, are the practices and technologies used for the long term? It is a great question and one that will require leadership and understanding. The strategy must assess both business and technology, current and future, and if it is heading you in the right direction. Then ask yourself the most important questions, is it Flexible? Building flexibility for the future is so critical as you do not know what the will change in the economy, in business, or what the next crisis might be.
The choice of digital technology again will be essential to providing flexibility. With the technology available today to leverage AI, capture, and data to be leveraged, simplify integration, security, cloud and the list goes on.
Digital technology must be able to be implemented quickly. Today the needs of business demand that technology changes can be delivered in two to three weeks, be robust, and must be secure. You must be thinking along these lines.
The technology is available today to achieve this. The other problem created before the pandemic is the shortage of skilled resources. COVID-19 has accelerated this too.
So, digital disruption is here, we are here to help!
Our DB Results Digital specialists understand business and they will help you carefully select the best digital solutions to match your business needs. Our Digital services assist you to improve customer experience, streamline and automate your organisation and realise new opportunities through disruption.
DB Results removes the need for scarce digital skilled resources and gives you your own expanded delivery capability. We achieve this by employing our powerful Speed to Innovation delivery approach. It delivers the customers business solution at digital speed. It does this through the delivery of applications using low-code platforms, and services.
Our Speed to Innovation leverages an accelerated Agile approach. We can deliver web or mobile applications (MVP) in 10 days and we can continue to do this sprint after sprint building new applications or extending the existing applications. This provides the ongoing business change that is required today.
