Business survival in post-pandemic time calls for leveraging digital technologies while enhancing ESG approaches
In the post-pandemic time, businesses are deploying new capabilities using digital transformation technologies while also enhancing their ESG strategies.
As the world tries to rebound from one of the worst pandemics in recent history, lots of businesses are required to make critical investment decisions. When doing this, it is hugely important to assess the changes that the pandemic has brought, some of which may be permanent, and out of that come up with a business model that will guarantee survival and success into the future.
A recent report by KPMG Global observed that two-thirds of the technology CEOs are prioritising new products and services in their investment decisions. They are deploying new capabilities as they seek to reform their organisation digitally while enhancing environmental, social, and governance (ESG) strategies.
The key technologies that most of the organisations are leveraging are:
If there is one thing that COVID-19 has taught us, it is the importance of digital transformation. This is what business leaders are betting on to make their entities resilient, customer-focused, and agile. In the last year, businesses have seen an accelerated digital transformation where technologies such as cloud, artificial intelligence, and 5G connectivity are being prioritised.
Business executives agree that migration to the cloud is a necessity and any organisation that is looking to start the post-pandemic period strong must make it a priority. Many organisations are moving their entire data systems to the cloud on a scaled approach rather than the adoption of piecemeal migrations of small data sets.
There is also a hybrid option. With hybrid cloud migration, they are reducing the risks of disruption and gaining an extension of the corporate network by taking advantage of the available features and services. This is a crucial way of improving the overall flexibility and interoperability.
The benefits of cloud-based technologies were more evident during the pandemic than any other period; working from home and remotely would not have been possible without cloud computing. With the pandemic has changed the work environment, this capability will continue to shape businesses for a long time. In line with the push for greener cloud computing is the use of more efficient data centres. Businesses need to or should switch to green cloud infrastructure providers and data technologies where productivity is improved and at the same time the effect of these vital cloud computing capabilities on the environment is hugely reduced. Adoption of systems such as liquid immersion cooling has been hailed as a positive move, one that businesses need to adapt to ensure they reduce power costs and boost the journey towards net-zero targets.
The entrant of 5G connectivity was timely, the need for organisations to adopt digital technology has never been urgent until COVID-19 happened. Deployment of 5G technology together with edge computation has helped businesses across industries solve their challenges, reshape the distribution channels as well as optimise their business operations.
As businesses plan on their post-pandemic investments and operations they need to have these technologies in their priority lists. They are at the heart of responsible ESG practices, they not only enable the business to work efficiently but reduce reliance on traditional methods t have proved to be wasteful, and in the long run harmful to the environment.