Digitalization An Opportunity To Accelerate Growth In Post Pandemic Times

We are all passing through a tough time which no one on the earth anticipated. The pandemic has thrown all of us out gear. Everyone suffered a major a setback. In the post pandemic situation, every industry is trying to come back to normalcy and make-up for the lost time and fulfill the demand of their customers. Just like the saying goes, every coin has two sides; similarly, the pandemic should be viewed in a similar way.

The pandemic has forced us to think in a different way and how we can bring back the economy to normalcy. Every industry while exploring the ways and means to jump back, have found digitalization as one of the ways to speed-up manufacturing and related process to bring-in excellence in whatever way they are performing. It is rightly said that the amount of digitalization that was not done in last twenty years was done just in last 1 & ½ years.

The industries are continuously working towards finetuning their business models to make them highly resilient and reduce the impact of such unforeseen disruptions in the future. Companies have had to scale remote work and accelerate digitalization rapidly. In fact, a recent report highlights that in the manufacturing sector, about 89 percent companies have adopted cloud computing in pursuit of digitalization. This pace will further speed-up soon and the industry will see greater adoption of various automated technologies to enhance factory operations.

The decision to move to cloud also helps to expedite the digitalization efforts, which were earlier constrained by the maintenance, scalability and availability limitations of the on premises IT setup. AW well laid-down digital strategy both in the near and long term will go in a long way to make the industry grow. A holistic approach to digitalization should have a focus on achieving agility and innovation through complete digitalization to bring-in increased efficiency across core business functions.

A well laid-down digitalization policy backed-up by top management support will help to accelerate the pace of organizations digitalization efforts. Also, specific digital initiatives and innovations will help to improve manufacturing productivity and operational efficiencies across departments like shopfloor, finance, and HR. The scope for digitalization is limitless. It should be a continuous process and followed as a way of life.