To summarize the various points made by these industry pundits:
Pivot and Adapt
As mentioned earlier, the coronavirus pandemic pushed several industries to take a dramatic technological shift. As functional members of society, we see changes in the way we live, work, and interact.
In the US alone, 330 companies filed for bankruptcy and blamed the pandemic for it. Similarly, this scenario isn’t far in the Philippines. In late-September, the Department of Trade and Industry (DTI) survey reported that 6% or about 90,000 businesses, mostly micro small & medium enterprises (MSMEs), remain closed amid the pandemic.
The sad reality is that some businesses may be closing for good, and not all will survive after this pandemic. But those who have the agility to pivot and adapt need to understand that a digital transformation is no longer an option but an expectation of your customers as the way to conduct business.
Since things are not going back to the way they were, the “new normal” as we call it, organizations will need to ask themselves this essential question:
“Am I taking strategic steps today in ensuring the future of my business?”
Now, you have a better understanding of how these innovations can help maneuver your business next year. We want to know where you are in your digital transformation journey so we can help you navigate.
With Filipino businesses pushed to scale up their digital transformation efforts and embrace the next normal brought about by the COVID-19 pandemic, where are you currently navigating through the adoption of these technology trends in your business?