The novel coronavirus had brought to focus a distinct online divide i.e., the companies that are investing/ or have invested in online operating models and others that haven't yet. For several brands and businesses, the continuity of the operation depends immensely on online capacities. The markets and boards are becoming aware of this. Gradually, there is faster and smarter adoption of technology to cater to customers better during this pandemic phase.

Hani Zeini highlights instances of technology adoption

The concern here is how fast the companies will shift from online businesses to the operating models. Many companies are struggling to cope up with the new normal. However, Hani Zeini, a leading entrepreneur, highlights a few essential themes of rapid technology and digital tool adoption to survive the pandemic phase.

 

     1. The concept of digital nationalism

 

Today, the considerable economic value generates from online ecosystem propositions, digital innovation, and new technologies. And that plays out vividly in surging the valuation for the big tech and fast investments to modify office space. In such challenging times, countries need to maintain their edge and maximize the non-tariff barriers on cutting-edge online research and development, intellectual property, and other essential services for the economy and national safety.

 

    2. The conscious capital models

 

The CAPEX cycles are getting rescaled in this crisis. Hence, people can anticipate that online solutions and product partners would use more innovation to provide a cash flow affinity investment model for online executions. Several ecosystem players would opt-in for the gain-share models, which will speed up the online journey for companies. 

 

    3. The era of tech foundations

 

In several big organizations, the technology debt accrues as the organizations go through various technology implementation and acquisition cycles. Companies might look upon the global pandemic as a crisis for the leaders to assess the tech landscape and recognize scopes to complete this technology debt. It can help to free the vital cash flows that they can use for digital investments in the future.

 

   4. Adoption of digital labor

 

Currently, the world is all set to embrace bots and online labor. However, the pandemic is expected to speed up this shift to bigger automation. Organizations and business houses might want to make the most of the online platforms that can carry on the functions unhindered during a crisis and not depend on the physical presence of the staff for work continuity. That is not all. The margin pressures would urge organizations to seek effectiveness in scale implementation of online labor technologies.

 

   5. The outcome linked and an “As-a-service” model

 

Keeping in mind the increasing economic instability, the businesses and customers will want to engage the partners and suppliers on the outcomes, instead of the earlier service/material supplies. Hence, companies are expected to restructure their proposition for aligning with this new situation and pooling their solutions on as-a-service/outcome models. The online platforms would form the base of delivering all these propositions. 

Online transformation can act as a strong catalyst as a company’s response to the current pandemic crisis. It gives companies the scope to re-align their operating/business models to change with the business changes quickly.

 

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