In our “new standard” market and economic climates, staying competitive and functional necessitates a new way of thinking and working. Information technology has long been recognised as a vital business aspect with strategic significance. The response to COVID and the subsequent lockdown has accelerated the adoption of digital technology. Many of the changes that occurred during this time period.
Companies have accelerated the digitisation of both their consumer and supply chain interfaces by three to four years, and their stake in digitally activated goods by up to seven years, according to the new McKinsey Global Survey, which took place in July 2021.
While these were meant to be temporary steps, the respondents said they now expect them to be permanent. They were also taken aback by how rapidly these changes were implemented, which they attributed to the pressure on companies to continue operating under difficult conditions.
A rapid technological transition is normally accompanied by a significant impact in costs needed to finance such improvements. The numerous company executives interviewed in the McKinsey study confirmed this. Over the same time span, the funding of new digital initiatives outpaced any other company expense or human capital investment, according to these executives.
Consumers, however, were not the only ones who embraced increased digitalisation. According to the McKinsey study, the pace of growth of similar goods and services in terms of how we shop, pay, and work has increased by seven years on average.
During the COVID blockade, online shopping exploded, with businesses in the United States and China launching contactless delivery systems to prevent in-person contact. In terms of online shopping and their individual responses to the pandemic, the rest of the world saw similar development.
People were able to avoid exchanging virus-infected banknotes and coins by using contactless payments, especially in the form of “Tap and Go” banking cards. Online payments made it possible to pay for services and electricity as well as products. However, making these types of payments requires access to a digital payment network as well as a secure internet connection – all of which are not always available.
When global lockdowns were implemented, mass remote working gained traction overnight. Many workers were able to operate from home thanks to digital innovations such as virtual meetings and cloud computing. Flexible collaboration tools that allowed remote working grew in popularity as well.
However, digital technology transition is not without its difficulties. Privacy, information management, and technological support continue to be major concerns. Building the appropriate infrastructure for businesses to ensure their digital readiness necessitates the assistance of a specialist IT Company Dubai. Bluechipgulf, Best IT Support in Dubai, ensures that company networks are safe from damage.
Bluechipgulf provides cutting-edge networking technology to help companies operate more effectively and safely in these challenging times. We also offer a wide variety of software and hardware at discounted prices. Make contact with them to ensure that your business is up to date on all of the new IT innovations. Book your free consultation with best IT managed service provider Dubai today at +971-556260687, 043524988 Or you can visit us at : 18th St,Al Jahra Building office 703,Khalid Bin Al Waleed Road, Near Hotel Royal Ascot, P.O Box: 233468, Dubai, UAE.