Digital investments to help companies become resilient

The covid-19 pandemic has disrupted the businesses like never before, but has also created an opportunity to invest in digital solutions that will build resilience in the long-term. The demand for digital solutions across cloud services, consumer-facing businesses, and education, among others, has gone up significantly during the pandemic.

Daily Current Affairs Quiz 2020

Key-Points

Traditionally, sectors outside of new age businesses, banking and financial services, have not turned wholeheartedly towards automation solutions yet.

The lockdown has clearly demonstrated how technologically-enabled businesses have thrived during the crisis, but many businesses are still figuring out where they want to start their automation journey in the new normal.

The entire focus of enterprises during the lockdown has gone from automation for cost optimization to business continuity and resilience.

It has also seen the automation narrative turning from return on investments to how resourceful the solution is at keeping the business operational.

The pandemic has increased the level of automation by 4-5 times and certainly more than what demonetization had done.

Sectors such as retail and industrial manufacturing are still catching up to these solutions, but others such as financial services are ahead of the curve.

The kind of solutions that businesses are looking at to build resilience through automation are multifold.

As businesses started moving to the unlock phase in addition to workforce safety, they wanted to know how they could engage with employees, customers and partners better through digital solutions.