Magazine
Covid-19 brought turbulence in the laid plans for respective industries and forced us in the degree of urgency to redefine our strategies for business continuity. Businesses observed that survival of the fittest is the ship that will sail them through these unprecedented times. Technology has played the most crucial role across sectors for enabling an ecosystem for business operation continuity. A boom in digital transformation across industries was observed, bringing opportunities for the industry and a mantra of Pivot or Perish that made businesses move beyond old-school brick-and-mortar presence online.
According to a NASSCOM report, Digital transformation deals have seen a 30% jump, 80% jump in cloud spending, and a 15% increase in customer experience have been witnessed since the pandemic. Organizations across have accelerated their digital transformation journey, adopting newer technologies to meet customer demand and make their operation nimbler and more resilient. Hence, there is a thriving towards revisiting the priorities and drive towards new plans in the next 12-18 months and beyond, with Trust, Agility, Talent, and Innovation being the critical pillars for being competitive in the new normal.
Hyper Automation Wave Among Enterprises
Enterprises are witnessing a Hyper automation wave as they are focusing on maximizing the potential of automation to drive digital acceleration, increase resilience, enable scale, cut costs and reduce organizational debt which includes technical, process, data, architecture & security. COVID-19 safety precautions that support remote operations with contactless interactions, human safety in dangerous environments, and other recent developments like increasing tariffs and rising labor costs are the response for accelerated automation.
Artificial Intelligence (AI) and Robotic Process Automation (RPA), and other automation technologies like Machine Learning are automating the business and IT processes, helping in better prediction and decision-making. Automation has changed the way we work and enhances efficiency, bring digital operational excellence and resilience.
Accelerate Transformations Through Cloud Platforms
Enterprises on their digitalization journey are using emerging technologies like AI, ML, IoT, RPA, and special emphasis on cloud adoption due to its ability to accelerate the digital shift. According to IDC, 64% of Indian firms are expected to adopt cloud computing amid the pandemic to cater to the increased need for remote working capabilities. While enterprises were already moving to the cloud, the pandemic worked as a catalyst for cloud adoption. The adoption of cloud helped organizations move online and make work-from-home a success. It enables the IT delivery function to be agile by cutting provisioning time, reducing infrastructure spend by having a mechanism to use it optimally and facilitating system rationalization & modernization. Cloud adoption reduces disruption risk and provides scalability to enterprises.
As hybrid work emerges as a preferred set-up, businesses need to reinvent themselves with the workforce front of mind
Need Of A Zero Trust Framework
In a hyper-digital and largely contactless world, ‘Trust’ will be the core currency of the next normal and will be the key factor for decision making. A trusted environment needs be built in which sensitive data can be processed or analysed in work from anywhere, giving clients a feeling that their data is secure. Businesses are re-visiting IT priorities that need to be modified for the new hybrid work environment and address increasing cybersecurity concerns by implementing zero trust security architectures. In a trend wherein most assets and devices are now located outside traditional physical and logical security parameters, enabling a cybersecurity mesh in enterprises for scalable and reliable controls is a priority for customer satisfaction on critical data security. A zero-trust network access, multifactor authentication etc. have been implemented by enterprises that offer remote access.
Creating A Digital Workplace
As hybrid work emerges as a preferred set-up, businesses need to reinvent themselves with the workforce front of mind. A digital workforce and IT operations need to be rebuilt to support a new work model that allows employees to operate from anywhere and support their customers. According to Gartner, the model for anywhere operations is “digital first, remote first”. Infrastructure, policies, practices will require a change to provide a seamless and scalable digital experience. In a future of work without boundaries, employees will expect a safe, productive, and seamless experience that satisfies personal and professional needs wherever work happens. As we enter the golden age of the human-centric approach of work, companies will need to rethink how they shape work patterns, while new ways of working will need to be adapted and reinvented to meet employee preferences. Digital skilling has become an integral part of IT companies' overall business strategy, and talent development must be our national priority. The OSP reform will provide the industry with an epic boost to hybrid work and significantly expand access to the talent base.
India today, is at an exciting inflection point where technology is redefining business models. We are at a crucial intersection, where humankind, businesses and technology can create a better and productive world. With the ingredients already in place since the start of 2020 - people-centric innovation, trust-based collaboration, accelerated go-to-market strategies, undying talent focus, and adaptability to hybrid work models are essential. While organizations continue to respond to the crisis and explore new ways to operate and drive growth, the decade will emerge an accelerated techade ushering in A NEW WORLD AND A VIRTUAL FUTURE!
