It’s no secret: Technology is crucial to the way we do business today.
From education to hospitality, organizations have been forced to pivot—to evolve with the times, so to speak, and integrate tech into their operations.
During the COVID-19 pandemic, this has become especially paramount.
What Is Digital Transformation?
Digital transformation is one of those elusive concepts that’s simple in theory but significantly more complex in practice.
It involves integrating digital technology to transform your business or service model. Examples include incorporating online ordering into your restaurant, or replacing in-person meetings with online alternatives, among other changes.
The practice is radical. It’s disruptive, and even revolutionary in that businesses are forced to experiment.
Digital Transformation During COVID-19
Though it’s often viewed as a blend of digital tools and processes, the global health crisis has created an added layer of ambiguity to digital transformation.
Today there’s a sense of urgency that didn’t previously exist. A need to adapt quickly to survive in times that are quickly evolving.
And so in 2020, experts reveal that global spending on digital transformation tech will increase by 10.4 percent—up to $1.3 trillion.
All the while, they must meet the needs of their audience, and consider feedback from their team.
Pivot Your Business Model: Spotlight on Trial and Error
With this newfound sense of urgency comes a need to accept failure.
Companies must make decisions quickly—commit to new software, new payment platforms, and new approaches to doing business, even.
And in the event of failure, they need to adapt. Because if 2020 has taught us anything, it’s that we need to learn from our mistakes. We need to act with intention. We need to be patient, keep trying, and adjust our approach as we go.
Have questions about digital transformation? Please contact us for more information.
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