In recent months there has been a significant change in the way companies use technology. Initially, they only sought to adapt to the new reality, but later they began to use it to achieve effectiveness and efficiency in their processes. For this reason, we can affirm that COVID has accelerated the digital transformation of companies.
According to the global DT Index 2020 study published by Dell Technologies, eight out of ten organizations have accelerated some digital transformation programs in 2020, while 79% continue to reinvent their business model.
Why COVID Has Accelerated Digital Transformation
Any relevant transformation process occurs when there are incentives that drive it. In this case, the incentive has been the COVID health crisis, which has generated a large problem.
To solve this problem, companies have focused on finding a solution that would involve the entire company. For this reason, they have begun to implement a digital transformation process that would allow them to withstand the blows of the global crisis caused by the virus.
Digital transformation processes motivated by COVID
Before the pandemic, business investments were mainly focused on basic technologies. However, due to COVID, investments in emerging technologies have increased:
During confinement, teleworking became the new way of working for companies, since it makes it possible to make the maintenance of working life and the health measures implemented compatible. To do this, they have had to promote new collaborative work modes, adopt virtual communication procedures and implement digital solutions to continue with work activities.
Digital solutions based on Artificial Intelligence allow you to extract valuable information quickly and efficiently. This information helps to improve decision-making and the automation of certain tasks. One of the measures that have been taken has been the integration of chatbots and virtual assistants in customer service processes.
Virtual reality and augmented reality
As a consequence of confinement and distancing measures, the number of virtual events has increased. And, to offer a good experience to the participants, virtual environments have been developed that are intended to simulate as faithful as possible to reality.
Like the events, the training has undergone a digitization process this year. The health crisis has forced companies to offer online training that could overcome the barriers imposed by COVID. In this sense, e-learning tools have played an essential role, since they have allowed employee training to be carried out with certain normality.
During 2020, there has been an increase in cyber attacks, both against companies and individuals. For this reason, organizations have decided to implement cybersecurity mechanisms that allow them to face such attacks.
Blockchain is one of the technologies that most companies are betting that drive digital transformation processes. Its use in supply chain management is becoming more and more frequent, as it provides great transparency and reliability. In addition, it serves to predict similar situations that may occur in the future.
Big Data has become a key technology during these months because it allows collecting and analyzing data related to the pandemic. By offering relevant information about it, it favors appropriate decision-making about business activity. It is also decisive when it comes to monitoring future crises.
Advantages of digital transformation
Companies have been able to benefit from the many advantages of digitization:
- Cost savings: The processes are automated, which represents a considerable saving in time and costs. The result is an increase in the productivity of companies.
- Faster responses: The use of technology makes it possible to respond quickly to changes that take place.
- Improved decision-making: Thanks to Big Data, we can carry out a deep analysis of the data, which allows us to improve decision-making.
- Satisfied customers: The digital transformation contributes to improving customer service and, consequently, increases their loyalty.
- Promotion of teamwork: New technologies help departments work in a connected and coordinated way. In this way, teamwork is favored.
- Talent attraction: Companies with advanced digitization processes are more attractive to candidates who want to join them.
- More business opportunities: Thanks to digital transformation, we can reach new customers, as well as develop new products and services.
In short, COVID has accelerated the digital transformation of companies, which will be able to survive in the market thanks to the digitization process in which they are immersed. The great challenge from now on is to take advantage of this momentum to continue working in this way when the crisis ends.