Organisations are accelerating their digital strategies as a form of their crisis management. Today, you can consult with a healthcare provider over the phone. Retail outlets don’t want you to come to their stores, the business sector is now talking process automation and e-commerce is booming. The world that we imagined in the future is unfolding right in front of our eyes. Organisations are turning digital channels into primary engagement platforms.
Process automation can be a primary driver of an organisation’s productivity and effectiveness. This is leading organisations into adopting rapid technological transformations and, for those that are successful, they will reap the benefits that go way beyond a crisis. Most organisations have had their digital transformation plans for the short to medium term, but they may be forced to reassess their timelines during a crisis.
It may be naive to assume that everything will remain the same after a crisis. It is easier to plan for the future, but a totally different story when you’re faced with a crisis that demands your immediate attention and response. Finance departments do not have time to entertain new initiatives and are holding on to every cent they have.
Instead of a knee-jerk reaction, organisations need to refocus on those digital initiatives that they have been putting off, without worrying too much about how they may initially interrupt the status quo. Organisations should be looking at replacing their traditional offerings with virtual alternatives. These would certainly require new partnerships and platforms, and, at times, a reinvention of the organisational business model. The transformation, however, may come with other unintended consequences, such as security of information – both organisational and for customers – and these would need to be managed accordingly.
A rapid adoption of new digital strategies in an organisation can accelerate the pace of experiential learning and expose inherent organisational technological gaps. Adjusting business models without a crisis is risky on its own, and doing it during a crisis may seem almost impossible. However, this may actually be the best time to recalibrate when you know that even your industry peers are fighting the same battle.
A Few Tips on New Digital Strategies for Organisations:
- Start with the customer in mind.
- Find processes that can be automated and standardised.
- Use tools that can provide reliable live data.
- Use data insight for incremental improvements.
- Scale quickly.