“Bracing for the silent revolution: are you ready to join the 21%?”

by | Jul 24, 2023 | News, Technology

Imagine being on the brink of a revolution. A shift so massive that it threatens to redefine your entire business landscape. It's happening right now, and you're an integral part of it.

The Silent Revolution: Treading the Transformation Trail

Global businesses are poised for unprecedented change with and digital advancements disrupting traditional models. As Satya Nadella, CEO of Microsoft Corporation once said, “Every company is a software company”. This indicates a vital shift towards digital-centric operations. But are companies keeping up with this rapid transformation?

Digital Transformation: A Double-Edged Sword

  • In 2020 nearly 70% of companies initiated their digital transformation journey but only 21% believe they've nailed their strategies.
  • The banking industry has been a front-runner in this race with mobile banking usage increasing by an impressive 71% between 2014-2019.
  • Despite these strides, out of all financial institutions only about a quarter (26%) had deployed digital initiatives as per Gartner's CIO survey in 2018.

Risks such as cyber threats and resistance to change within organizations often slow down the pace, leading many to falter on their transformation journeys.

Navigating Through the Transformation Maze

You might be wondering how do business organizations steer through this complex labyrinth. Let's dive into three key strategies:

  1. Focused planning: Successful transformations necessitate comprehensive strategic planning rather than incremental changes.
  2. Tech upgrades: Constantly upgrading their technological infrastructure is non-negotiable if they wish to stay competitive.
  3. Skill development: Upskilling or reskilling the workforce aligns with digital capabilities – crucial for charting success in disruptive business environments.

Yet behind these strategies lurks a silent orchestrator driving these transitions from within; guiding them towards success – implementing operational changes and creating an environment for innovation.

A Call To Action: Embrace Change Before It Embraces You!

In the immortalized words of Bill Gates, “We always overestimate change that will occur in next two years and underestimate what will happen in ten.” Lulled into inaction is not an option anymore.

It's time to step up your game; listen closely to market signals; understand evolving consumer preferences; leverage innovative technologies strategically – provide that much needed edge you require.

Because remember, “The future belongs to those who prepare for it today.”. Are you ready?

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