The saying ‘necessity is the mother of invention’ feels apt in the unprecedented times of the pandemic, which is catalysing Indian businesses to pivot to digital transformation. Restrictions induced by the lockdown, medical emergencies and efforts to keep social gatherings to a minimum have given birth to trends such as – online shopping, remote working and learning, and 4-day work culture. Such trends are expected to continue till the virus is eradicated. Businesses, to stay competitive amid this new business and economic environment, require new strategies, practices, and new technology adoption.
As per a study from McKinsey Global Survey of executives, companies are increasingly looking forward to advancing their customer and supply-chain interactions and their internal operations by three to four years with digitization in the pandemic. According to an IBM report titled ‘Covid-19 and the future of business in India,’ 92 -90 percent of Indian executives, in the wake of the pandemic, are focussing to bolster the operational capabilities such as cash flow and liquidity management, cost management, and enterprise agility over external growth for the next two years.
According to an IBM report titled ‘Covid-19 and the future of business in India,’ 92 -90 percent of Indian executives are considering to bolster operational capabilities such as cash flow and liquidity management, cost management, and enterprise agility over external growth for the next two years.
How is TCS Enterprise Navigator Benefitting Indian Businesses with Digital Transformation?
Tata Consultancy Services (TCS) has launched an integrated consulting-led framework by the name TCS Enterprise Navigator which will aid C-suite executives in their digital transformation initiatives, design thinking , strategic value mapping and change management. The platform will act as a suite of consulting and technology solutions. The solutions offered by TCS Enterprise Navigator are built on an ERP background, comprising enterprise applications such as SAP S/4HANA, Oracle Cloud and others, also focussing on a critical factor i.e. user adoption. User adoption by Enterprise Navigator is addressed by empowering employees, suppliers, partners and customers with new capabilities such as automation, Artificial Intelligence and advanced analytics capabilities.
Businesses, in order to remain resilient to the impact of covid disruptions, will find it unavoidable to invest in cloud solutions. IT consulting firm, Gartner estimates that the spending on cloud management and SaaS in India will reach a value of $4.4 billion in 2021. The remote workforce model will continue to stay in the pandemic that will lead businesses to spend more on desktop-as-a-service (DaaS) and Infrastructure-as-a-service (IaaS) technologies.
How will this Digital Transformation be essential for Businesses in the Coming Times?
Indian businesses operating in the largest human health crisis must digest the fact that the pandemic-induced changes in strategies, new workforce models, management, operations and budget priorities will continue to reign. Therefore, it is anticipated that a surge of investments in digital tech, transformation and cloud adoption will be undertaken by the businesses. To survive and flourish in such testing times, businesses will transform three major areas:
New workforce models
Businesses will be operating either with a remote workforce or a hybrid workforce consisting of remote and in-office work. It will be imperative for businesses to invest in technologies for skill development, remote training, learning of employees and extending support for mental health and well-being.
Intelligent work processes
Pivoting to AI, automation and other exponential technologies to reduce friction in supply chain processes, cybersecurity, manufacturing, etc.
Improving operational scalability
Businesses, to bring flexibility and improve operational scalability, will prioritize more in hybrid cloud technologies and shift more business functions to the cloud. Therefore, business leaders and executives should think of adopting technologies and strategies that will make businesses agile and be future-ready in times of such uncertainty and pandemic-induced disruptions.