Adaptability: Key to business recovery

| | Bhopal
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Adaptability: Key to business recovery

Tuesday, 11 May 2021 | Staff Reporter | Bhopal

With the rollout of Covid-19 vaccine, businesses in India are confident of bouncing back to normal and expect the economy of our country to move rapidly on the path to recovery. The year 2020 was definitely a year for change for many however even amidst this uncertainty; India remained the most digitally matured country in the world.

Alok Ohrie, President & Managing Director, Dell Technologies India said, "In fact, digital adopters in India, ones who have a mature digital plan, investments and innovations in place, grew to 55.3% in 2020 from 33.5% in 2018." He further said that this is a testimony to the impact that technology transformation has on the future and success of a business regardless of the circumstances. The message for enterprises is clear: adapt or fall behind.

Adapting is exactly what many midsize and enterprise companies are doing. The report also shows that 94.7% of businesses in India have fast-tracked some digital transformation programs this year, and 92.3% are reinventing their business model. The implications of which are wide-ranging. These companies would need flexible providers, a supply chain that can cope with a sudden ramp-up and internal resources to manage these unexpected changes to routine business processes.

Additionally, midsize to enterprise companies need to vanquish some embedded foes, as most businesses have faced barriers to digitization. The big hurdles here include data privacy and cyber security concerns, the inability to extract useful information from data and lastly, lack of economic growth in the country.

Notably, in recent times, every industry across the globe has experienced changes in its day-to-day business functions due to the pandemic.

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