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The digital transformation is crucial in the new normal. Is your company ready to start them?

5 min read

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  • The digital revolution started a few years ago and is definitely here to stay. It has received an important boost due to the importance the digital world has gained due to the limitation of mobility.
  • 80% of CEOs of the world’s largest companies have seen their transformation programs accelerate during the lockdown period, and 67% are likely to invest more capital in technology acquisitions than people development.
The digital transformation is crucial in the new normal. Is your company ready to start them?
The digital transformation is crucial in the new normal. Is your company ready to start them?

By: Lucia Martti, Head of Business Development – Wayra Peru

In the past few months, there has been an unprecedented technological advancement driven by COVID-19 and lockdown. The way people shop, communicate, work and, in general, change the way people live around the world has changed.

Technology has taken on an important role in the new normal ensuring that business activities continue in a safe manner, e.g. B. the use of QR codes in restaurants and hotels to order groceries. Capacity control through digitization of physical rooms and counting chambers; the implementation of remote temperature sensors; and the identification and prediction of behavior of new outbreaks of the pandemic through big data and artificial intelligence.

In view of these changes, digital transformation is a key issue, as the KPMG report shows. “CEO Outlook 2020: COVID-1980% of CEOs of the world’s largest companies have seen their transformation programs accelerate during the lockdown period, and 67% are likely to invest more capital in technology acquisitions than people development.

There is an important digital divide between companies, some of which started digitizing early and continue to invest in it. As a result, they are better prepared for current changes, seize opportunities and create value through advantages. On the contrary, SMEs have been overwhelmed by the new conditions and they find it necessary to reinvent themselves in order to continue doing business.

Image: Depositphotos.com

Governments and companies develop initiatives that provide educational tools and facilitate access to technology. However, SMEs must take the first step to accelerate their digitization and thereby become more competitive, efficient and flexible and adapt to the requirements of new situations such as teleworking, training on-line and external customer service. It has remained in the past that the implementation of cloud services, process automation, decision-making based on big data and artificial intelligence are only the domain of large corporations and multinationals.

SMEs are the backbone of the economy, they are the main engine and largest generator of jobs. The International Council for Small Businesses estimates that they make up 90% of businesses and generate between 60% and 70% of the world’s jobs. In Latin America, they represent 99.5% of companies and create more than 60% of jobs, according to ECLAC. According to this UN organization, the coronavirus will cause the shutdowns of 2.7 million businesses and the most affected businesses will be the micro and small businesses.

There is still a belief that digitizing a company requires large budgets and people with a special profile. The good news is that this is no longer the case! There are a number of solutions that can improve and automate processes and business management without the need for large investments, deployments, or technical knowledge.

Startups are great allies in facilitating access to technology and driving digital transformation. With innovative solutions, they offer a range of options via the SaaS (Software as a Service) model to cover all types of requirements, e.g. B. Sales increase via social networks, automation of billing and accounting processes, building customer loyalty, creating interactive shopping experiences, etc.

Wayra Hispam, Telefónica Movistar’s Open Innovation Hub, has portfolios of startups in Argentina, Colombia, Chile, Mexico and Peru that companies can contact to start their digitization processes according to their needs in technological industries such as Big Data, Artificial Intelligence, Cloud, Cybersecurity, Fintech, Virtual and Augmented Reality, IoT and others. Movistar Peru recently opened a marketplace where it offers its customers various solutions to increase sales and brands, optimize processes and increase productivity increase.

Image: Depositphotos.com

The digital revolution started a few years ago and is definitely here to stay. It has received an important boost due to the importance the digital world has gained due to the limitation of mobility. The phrase “the only constant is change” takes on a much greater meaning for companies.

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