This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our PRIVACY POLICY for more information on the cookies we use and how to delete or block them.

Feature Story

04 June 2020

Kashyap Trivedi , Partner - Tax Technology
Digital Services

Bridging the Digital Gap

Digitisation has been transforming the way businesses interact with and deliver offerings to their customers. Prior to the onslaught of COVID-19, businesses globally were exploring technologies to improve efficiencies, uncap innovation and enhance customer experience. The adoption of tech in the pre-COVID era was a proactive decision that Boards made to enhance their service delivery, leverage early bird adoption and minimise the risk of becoming obsolete in the times to come

The power and potential of digital and virtual technologies became obvious, as the spread of the pandemic compelled organisations to operate remotely. While it was an acknowledged fact that the foreseeable future would be driven by tech enabled services, COVID-19 was the unexpected catalyst that vaulted the adoption by both business and consumers. This rapid migration to digital technologies is expected to continue and become more intense, as businesses begin to resume operations.

Reforming in preparation for the changes to come post-COVID-19 should be a critical part of response and recovery. How businesses choose to plan recovery and strengthen their digital backbone will determine their survival and growth in the future.

Some strategic initiatives to help businesses initiate their digital transformation, as the world journeys to leverage tech and bridge the digital gap. To start with,

1. Move to technology platforms offering solutions

One of COVID-19’s most immediate effects is to accelerate efforts for businesses, governments and individuals to transition to technology platforms offering digital solutions. These platforms comprise of ecosystems of technologies, services and products that bring consumers and producers together, encourage third-party collaboration, digitise business functions, automate compliances, enable expert advisory thus extending the reach. All of us - whether business owners or employees - need to study available technology platforms to understand how they affect our work, lives and future.

2. Digitisation in HR

Managing employees when working from home or through a secured remote access desktop, requires an efficient digital HR system that can measure attendance, performance, log in and log out times etc. World leaders believe that keeping staff engaged and informed is a key priority and the idea of such systems should be to deliver result-oriented interactions that will engage and empower employees.

3. Digital events

While physical experience will be hard to replicate, Virtual/Digital events have become a key part of the business landscape. These events are highly interactive, encourage more participation and can gather attendees from across geographies at a minimal cost. Hosting an event virtually is more than just sharing a link to a virtual meeting or a webinar, managing attendee registrations, payments and live stream at one place are some of the key requirements; one needs to make sure that the platform they are choosing allows them to get almost the same experience of a physical event.

4.Data driven decisions/AI-ML/Big Data

We believe 2020 will be the year when companies become laser-focused on AI value, leap out of experimentation mode and ground themselves to accelerate adoption. This is the right time to establish and transform data to give insights and not just base level analysis. AI has reached the inflection point where it is less of a trend and more of a core ingredient across every aspect of computing.

5. IOT solutions

IoT is not just a technology initiative anymore. With increasing maturity in its adoption, CIOs and IoT leaders must aim to align IoT strategies with business objectives. The responsibility of such initiatives should not remain limited to IT; business stakeholders must also take part in identifying the metrics that help assess the IoT project’s success.

6. Technology governance

Technology governance assists businesses in driving value from their investment in technology. It can also be a formal way to align IT and business strategy. IT governance is an integral part of overall enterprise governance and in these changing times organisations need to implement governance infrastructures. Every organisation is subject to regulations governing the protection of confidential information, financial accountability, data retention and disaster management & recovery. They need a way to ensure that their IT function supports business strategies and objectives. While small entities might practice only essential IT governance methods, the goal of larger and more regulated organisations should be a full-fledged IT governance program.

As we move closer to a world that would be very different from what it was 3 months ago, we look forward to discovering new realms of the working reality. Given the potential demonstrated by digital technologies, we can expect digital transformation to be a larger imperative for organisations in the future.