Digital Transformation Is Essential in the New Normal. Is Your Company Ready to Start It?
Entrepreneur's New Year’s Guide
- The digital revolution began several years ago and is definitely here to stay, it has received an important boost due to the prominence that the digital world has acquired in the face of limited mobility.
- 80% of the CEOs of the world's largest organizations have seen their transformation programs accelerate during the lockdown period, and 67% are likely to invest more capital in acquiring technology than in staff development.
By: Lucia Martti, Head of Business Development - Wayra Peru
The past few months have seen unprecedented technological advance, driven by COVID-19 and lockdown. The way people buy, communicate, work and, in general, the way of life of people around the world has been transformed.
Technology has acquired an important role in the new normal, ensuring that business activities continue safely, such as the use of QR codes in restaurants and hotels to order food; capacity control through the digitization of physical spaces and counting chambers; the implementation of remote temperature sensors; and the identification and forecasting of the behavior of new outbreaks of the pandemic through Big Data and Artificial Intelligence.
Faced with these changes, digital transformation is a central issue, as shown by the KPMG report " CEO Outlook 2020: COVID-19 ", 80% of the CEOs of the world's largest organizations have seen their transformation programs accelerate during the period of confinement and it is probable that 67% will invest more capital in acquiring technology, than in personnel development.
There is an important digital divide between companies, some started early with their digitization and continue to invest in this area, which makes them more prepared to face current changes, take advantage of opportunities and create value through benefits On the contrary, SMEs have been overwhelmed by the new conditions, and they find it necessary to reinvent themselves to continue with their operations.
Governments and companies develop initiatives that provide education tools and facilitate access to technology, but it is necessary for SMEs to take the first step to accelerate their digitization, and thereby become more competitive, efficient and flexible, adapting to the new situations such as teleworking, online training and off-site customer service. It has remained in the past that the implementation of Cloud services, process automation, decision making based on Big Data and Artificial Intelligence, are only the field of large companies and multinationals.
SMEs are the backbone of the economy, they are considered the main engine and greatest generator of jobs, according to the International Council for Small Businesses , it is estimated that they represent 90% of businesses and generate between 60% and 70% % of jobs in the world. In Latin America, according to ECLAC , they represent 99.5% of companies and generate more than 60% of jobs, according to this UN body, the coronavirus will cause the closure of 2.7 million companies and the most affected they will be the micro and small companies.
There is still the belief that starting with the digitization of a company requires high budgets and people with a specialized profile. The good news is that this is not the case anymore! There are a series of solutions that can help to improve and automate processes and company management, without the need for large investments, deployments or technical knowledge.
Startups are great allies by facilitating access to technology and driving digital transformation. With innovative solutions, they offer a series of options through the SaaS (Software as a Service) model to cover all kinds of needs, such as increasing sales through social networks, automating billing and accounting processes, building customer loyalty, creating interactive shopping experiences, etc. .
Wayra Hispam, Telefónica Movistar's open innovation hub, has portfolios of startups in the countries of Argentina , Colombia , Chile , Mexico and Peru , which companies can contact to start their digitization processes according to their needs, in technological verticals such as: Big Data, Artificial Intelligence, Cloud, Cybersecurity, Fintech, Virtual and Augmented Reality, IoT, among others. Recently Movistar Peru has opened a Marketplace where it offers its clients various solutions to boost sales and brands, optimize processes and increase productivity.
- You may be interested: Digital transformation: 4 common mistakes that you should avoid as an entrepreneur
The digital revolution began several years ago and is definitely here to stay, it has received an important boost due to the prominence that the digital world has taken on due to the limitation of mobility, the phrase "The only constant is change" takes on much greater relevance in business.