Let’s face it, COVID has made the case for digital transformation of companies stronger than ever. Businesses are now adopting digital avenues to aid their operations and financial functions. Companies are assessing options to get their fundamentals in proper shape & looking to boost the bottom line for their business. Getting the financials, taxation, payroll and regulatory compliance reporting, balance sheets & cost structures in order is among the top priorities for companies as per Mckenzie.
Innovation is the foundation on which progress takes place in technology. Satya Nadella, CEO of Microsoft summed it up precisely, “The technology industry does not respect tradition – it only respects innovation.” Great companies are built on innovation. With the widespread adoption of digital technologies, software products are now driving the world. The software product innovations are creating a global impact by revolutionising products, processes and business models across industries. The software product innovations and technologies will play a bigger role in solving our day to day problems.
The demand for digital supply chain management has been rising ever since digital technologies came to the fore. In an unprecedented crisis and disruption forced by COVID-19, companies with digital supply chain management are able to operate & navigate challenges with utmost efficiency. As per IDC Manufacturing insights, by 2022, firms will dedicate 35% of their logistics business process outsourcing services budget to process automation, focusing on order, inventory and shipment tracking.
Is your business equipped to deal with uncertainties and disruptions? One of the acid tests for companies today lies in their adoption of a flexible business model to suit the changing needs for the marketplace. So, whether it is technological innovations, force majeure or any other form of disruption, businesses need to be able to adapt and keep moving forward.
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Government IT projects are prone to time and budget overruns. The government spending on IT & automation is on the rise. The policy making, e-governance initiatives and administration is being driven more by software & automation than ever in the past. The digital India mission and several other government initiatives are providing great opportunities for companies to make their mark with technology.
Employee performance management is a great competitive advantage, if it works for your business. Great companies and organisations are built on the prowess of its employees and staff performance. What employees do every day to shape the company goes a long way in making it successful or irrelevant.