Digital Transformation

Following a study published by the Organisation for Economic Co-operation and Development (OECD), over half of the Small and Medium Enterprises (SMEs) increased the adoption of digital tools to support their business processes during the pandemic, and more than two-thirds of them expressed their belief that such changes are going to be permanent. Also, in accordance with a study by PwC, one of the well-known accounting firms named Big Four, more than half of the Chief Executive Officers (CEOs) in the Asia Pacific and 39% of the workers of the surveyed organizations expressed their belief that their company will not survive in the incoming decade unless they change their current way of doing things in terms of business processes and integration of digital technologies in them. McKinsey & Company, identified three main capabilities necessary for digital transformation during the pandemic: filling gaps for technology talent, using more advanced technologies, and increasing the speed in experimenting and innovating.