Over the years, the world has observed significant development in the advancement of digital technologies. Backed by the growing investments by several organizations in the IT industry for research and development, so as to develop advance technologies, as well as the increasing investments by the government of nations around the globe, for the implementation of these advanced IT technologies, the world has observed massive digital transformation throughout the years.
Effect of COVID-19 on Businesses Worldwide and Need for Digital Transformation
Since the last couple of months, the world has been undergoing a crisis that is caused by COVID-19 and has affected businesses worldwide. Numerous organizations which used to follow the conventional product and service delivery processes are striving hard to survive amidst the increasing costs of expenditure on operations, decreasing sales and affected distribution channel, thereby raising the need for the digital transformation of their work processes.
With countries worldwide undergoing lockdown, businesses have been taking the first step of digital transformation by initiating the culture of “work from home”, which is also paving the way for the development of numerous IT tools and applications for work efficiency and service delivery.
Digital Transformation in the era of COVID-19 and its Future
Several IT companies around the world have taken the global pandemic as an opportunity to develop their businesses by introducing several new products and services that exploit technology and data through digital transformation. Development of numerous video conferencing platforms that allow cross functioning and data sharing options over the cloud, followed by customer engagement tools and back-office automation tools are all supported by cloud IT infrastructure. Moreover, the global crisis has also paved the way for organizations to search for opportunities that can promote digital transformation initiatives and generate revenue streams.
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