Updated: May 19
The recent observations indicate that we have accelerated digital adoption in the past eight weeks. Online transactions of the banks have gone up. Grocery stores have shifted to online ordering and delivery as their primary business. Universities, state and non-state have pivoted to 100 % online learning and digital classrooms. Doctors have begun delivering telemedicine, while pharmacies arrange orders online. Every sector is digitalised, may be wholly or partly.
A person, who does not use a computer, is now operating a computer, who used a smartphone to call, is now using the internet to order items, all levels of the society are changing with the digitalisation today. It takes more years to convert this level without a pandemic situation like this.
Most of the companies and their customers have already migrated to digital. Employees are already working at home. Some companies have already launched analytics and artificial-intelligence initiatives in their business operations. But most of the companies have taken few steps to date, represent only in digital, but there are several steps ahead.
We have to do proper forecasting and planning models to guide our business. Also, It is essential to analyse the financial risk what we are in, with the comparison of the 2008 financial crisis. However, do not cut the IT infrastructure and investment cost, but re-think if it is going over 40% of your total cost.