WPG Consulting Shares Digital Trends To Watch in 2021
Businesses of varying sizes face increased pressure to adapt operational strategies in a way that enhances competitiveness, given the ever-changing market dynamics. The economic disruption in 2020 forced organizations to re-evaluate their priorities more profoundly.
It is no surprise that more than 70 percent of chief executive officers fast-tracked plans to implement digital transformation. A survey conducted by Deloitte and the Fortune Magazine revealed that the global health crisis influenced these decisions by CEOs.
Bold decisions can help companies bolster resilience and decide their fate in the long-term. The increased pressure filters down to every department as leaders ask teams to prepare for significant changes. The key objective for organizations is to boost efficiency and productivity while lowering operating costs. Ultimately, CEOs aim to drive operational agility by implementing resilient processes.
Technology plays an integral role in the successful implementation of these plans. For this reason, organizations need to familiarize themselves with current trends employed by firms to achieve digitally evolved operations.
Trends Shaping the Future of Work
Here are key digital trends that can help your business weather the storm and gain a competitive advantage.
Many forward-thinking corporate leaders steer their organizations towards a brighter future by investing in operations during the recovery phase. This approach is proven to yield positive results, turning companies into post-crisis market leaders. Hence, an ever-increasing number of businesses plan to invest in their operations as a post-Covid-19 approach in 2021.
By adopting a recovery investment strategy, you adapt innovative processes faster. In turn, your organization changes in tandem with shifting market dynamics.
The coronavirus pandemic transformed the business landscape by forcing companies to switch processes to digital. As a result, it turned digital channels into table stakes. Digitally mature firms gained a competitive edge as they continued operations without disruption while other businesses scrambled to implement emergency migration plans.
Thankfully, digital transformation is a continuous reality in today’s connected business environment. Thus, you can evolve your digital plans in line with evolving market dynamics.
ROII (Return on Investment Immediately)
Return on investment (ROI) expectations have evolved as companies aim to achieve instant results for investments in enterprise technology tools. This digital trend downplays the traditional long sales cycles, incremental ROI, and gradual implementations. Many experts attribute the trend to the Amazon Effect. The impact of tech investments can come in the form of cost savings and business operations.
As the remote work trend transforms the business landscape, companies now offer a flexible work arrangement for employees. In turn, organizations are minimizing their physical footprint while confronting the challenges of asynchronous work.
Prioritizing Tech Skills Count
An ever-increasing number of companies prioritize technical skills over headcount. Businesses work tirelessly to close the technology skills gap, undermining their capacity to implement digital transformation more efficiently. To close the gap, organizations upskill and reskill existing IT team members.
In many cases, small- and medium-sized firms rely on outsourced tech companies to execute digital strategies. This approach bolsters access to critical skills.
Unprecedented Focus on Cost-Cutting Measures
The adverse impact of the pandemic on business operations forced many entities to cut costs. According to a survey by Deloitte analysts, at least two out of three companies (66 percent) continue to emphasize cost reduction. This figure represents a significant increase from 38 percent of firms before the global health crisis hit.
Bolstering Operational Agility With the Cloud
The cloud is attracting increased interest from companies looking to bolster agility. Business leaders leverage cloud benefits, such as reliability, scalability, cost savings, and security, to achieve operational objectives. As more businesses move operations and personnel to online platforms, the case for enhancing agility via the cloud becomes stronger.
Remote internal teams and communications lines with suppliers and customers can become more efficient by breaking out of silos. Emphasizing cross-functional activities eliminates redundant processes and inconsistent customer experiences.
Customers are increasingly looking to companies to provide superior digital experiences that provide real value. As such, customers demand products and services that meet specific needs. In addition, companies must provide real-time support and communication services. Analyzing customer data make it easier to determine customers’ exact needs and expectations.
Boosting Efficiency with Artificial Intelligence (AI)
AI can drive digital transformation and strengthen operational systems. This technology helps improve productivity by handling various aspects of rule-based, repetitive tasks. Thus, AI frees up the workforce to handle other critical tasks. Many companies turn to AI to streamline operations following the challenges faced in 2020.
Why Choose WPG Consulting
WPG is a prominent managed services provider (MSP) with offices in New York City. The firm offers wide-ranging IT services, including managed hosted cloud, tech consultancy services, cybersecurity, business phone systems, and software development. Founded in 2014, the vendor provides technical support for routine IT issues and complex projects.