Digital Transformation: A Solution to Business Crisis in Times Like Corona Virus Pandemic

As businesses are asking employees to work from home, restaurants and retailers are taking orders online, schools and universities are shifting to online learning, we are witnessing the most rapid organizational transformation and technology implementation in 2020. 

Businesses have faced many challenges and a colossal crisis over the decades but never like this before. Earlier it was financial mostly, but this time around with COVID-19 scare and complete lockdown, the primary issue is keeping the business running smoothly and getting the employees to work from home. 

The digital giants have an advantage over businesses without a digital core. Digitizing operations and automating processes is already an existing problem to overcome for a successful digital transformation even for established enterprises. COVID-19 has made it more difficult by adding a fourth dimension to the digital operational model required for digital transformation: working from home. 

The need to digitize the relationship between businesses and their employees is far greater than digitizing the relationship between companies and their customers. This way, offices are a less critical place for carrying out daily operations, and working from home is not only possible but preferred by many. 

With the need to work remotely from home to tackle the COVID-19, the need for digital transformation is increasing and is also identified as a solution to times like this by most businesses. Most businesses can cope with times like this and carry out their daily operations with a successful digital transformation, but not all. 

Businesses with digital cores are successfully operating, but businesses like hotels, clothing retailers, automobile dealers among few others can feel the heat as they may not have much left to work with people, not any likely to visit the stores and the dealers. Companies like Uber and other ride-sharing platforms are digital core-based companies that are mostly digital but cannot operate during these times as people cannot go anywhere. Apart from a few business types, digital transformation is the answer to many problems for businesses to solve the questions set by times like coronavirus scare. 

Businesses are now considering and looking at digital transformation as a need to upgrade performance and, most importantly, to tackle times like this. Coronavirus is giving a good insight into how the digital divide among the businesses will turn out to be as it has already convinced many in favour of digital transformation. 

According to KPMG, by 2022, fully 80 percent of revenue growth will depend on digital offerings and operations. Meaning, organizations can live or die by the way it designs and delivers technology services, responds to issues, and manages expectations.

It is safe to say that any road or a roadblock may lead back to a digital operational model. Businesses might have discarded or founded temporary alternatives for digital transformation up to now, but the barricade stirred by COVID-19 has witnessed a way to clear the roads in digital transformation or a digital operational model. 

COVID-19 has helped facilitate a long-standing need, digital transformation. Disruption can be in any form. It doesn’t matter if it is a pandemic, political, social, financial, or natural disaster; disruption is disruption. Today it is pandemic, tomorrow it can be something else, but a solution to these kinds of disruption to a greater extent is digital transformation. Be prepared to tackle times like these and embark on the journey of digital transformation and innovation.

Pravesh Mishra

Pravesh Mishra is a Digital Transformation Consultant at Leapfrog Technology. He helps businesses and enterprises with Digital Transformation.

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