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It MAY not be wise for struggling small and medium-sized enterprises (SMBs) to immediately invest in sophisticated digital tools when cutting costs to survive this pandemic-induced economic crisis, but “getting started” could help them win back their customers and stay afloat in the medium and long term.
“There is no one-size-fits-all solution. They just need to get started, ”said Accenture PH JP Palpallatoc, in a virtual briefing on Wednesday, February 24, 2021. He believes that it is not impossible for struggling SMEs to catch up with other companies that have accelerated their digital transformation right now . of the Covid-19 pandemic.
He identified investments in cloud, data and artificial intelligence (AI) as starting points or good foundations for SMEs as they manage other aspects of their businesses.
“The cloud could be deployed because the cloud entry point is quite low now,” he said, adding that business owners also need to determine the right technology that can help them thrive in the current situation.
“They need to look at the short and medium term. Can I see technologies that will enable my employees, a technology that will grow my business? By using the cloud, you will be able to use services like data and artificial intelligence, which really allows you to expand. People who are catching up should do it now, ”Palpallatoc said.
Accenture Study
According to Accenture Technology Vision 2021, technology was a lifesaver during the global pandemic – it enabled new ways of working and doing business, creating new interactions and experiences, and improving health and safety.
The report, “Leaders Wanted: Masters of Change in a Moment of Truth,” described how leading companies are compressing a decade of digital transformation into one or two years.
“The global pandemic pushed a huge fast forward button into the future. Many organizations stepped up to use technology in extraordinary ways to keep their businesses and communities running, at a pace previously thought impossible, while others faced the stark reality of their shortcomings, without the digital foundation to pivot quickly. ” said Paul. Daugherty, the group’s chief technology officer and Accenture’s chief technology officer, in a statement.
The Accenture study noted that today’s landscape would need tech leaders who won’t wait for the new normal to happen, but rather those who will reinvent and build new realities using radically different mindsets and models.
“The era of the fast follower is over, perpetual change is permanent. Tomorrow’s leaders will be those who put technology at the forefront of their business strategy, ”Accenture said.
The Technology Vision identifies five key trends that companies will need to address over the next three years to accelerate and master change in all parts of their business.
These are competition in IT systems architecture; continued investments in smart digital twins over the next three years; democratization of technology; move from the workforce approach of “bring your own device” to “bring your own environment”; and the emergence of multi-party systems that help industries gain resilience, new ways of approaching the market, and creating new value. (KOC)
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