Learning from the epidemic: how to navigate the new normal in 2021 – Latest Breaking News

It created a seismic effect on how we live, work and trade in 2020. We have learned that only organizations that adopt fast in a changing environment, adopt better ways of working, and create flexible business models built around the needs and expectations of customers, which are successful in a COVID world. We emphasize the need for a digital-first future in every aspect of the business. During this journey for the new general working with major Global Fortune 500 companies across industries and geographies, we come across five clear, indisputable trends that dramatically and rapidly reshape businesses and industries around the world. Are giving
Running offline Online: Many companies around the world went from being online to just one channel making it the primary engine of their businesses, one of the largest collective business-model shifts in history. From virtual doctors to becoming a role model for patients and educational institutions, drug sales happening on video, and banking became the only way to embrace remote operations, work online and do business. This change is here to stay and will have a lasting impact.
Virtualization of all technology, services and solution delivery:Digital Changes in 2020 have enabled people around the world to complete any task, anywhere, from any device. The future of distributed work will be one where organizations and employees develop as a “work-from-anywhere” model out of necessity, only from work-to-home. Crucially, organizations are realizing that delivering virtual work is just as effective compared to in-office work. To do this, organizations will need a “virtual culture of shared purpose” with a true sense of humanity, humility and empathy.
“Cloud” is defining the future: The digital changes that organizations had planned to complete in three to five years are now being fast-tracked to end in less than 18 months. This acceleration of cloud travel is for better automation, predictability or collaboration. However, companies should restructure their digital core and IT infrastructure to make full use of the cloud. CTOs and CEOs need to review and refine business processes to work on new levels of flexibility, agility and security to maximize the ROI of their cloud investments. The breakthrough also calls for multi-disciplinary teams with a mix of deep industry knowledge, business-process expertise and technology knowledge, all with a focus on laser overall cloud adoption.
Enhancing predictive analytics for actionable insights: COVID-19 Increased predictability of the role in meeting customer demand, delighting the customer, reducing risks, avoiding downtime and more. For example, as global supply and consumer demand change overnight, more real-time predictive insights are required to respond to consumer goods and the retail industry. . Likewise, real-time predictions have also been important in helping companies make accurate financial forecasts in environments where older models no longer apply, enabling better decisions for people, costs, and growth strategies. Predictive analyzes are now being incorporated into organizations’ DNA. This is no longer optional. It is a requirement for commercial success.
Human-centered design for a delightful process and collaboration experience: The digital world will now demand a better user and customer experience. For example, with Kovid-19, retailers struggled to deliver not only goods, but also customer experience. Customers moved online overnight and relied on e-commerce websites for the timely delivery of products. However, the epidemic-induced lockdown led to delayed shipments, endless calls to customer service and missed orders, frustrating employees and frustrated suppliers and partners at key moments. This prompted organizations to increase visibility in their processes by adding a front to their ecosystem of middle and back office as well as suppliers and partners. The focus will be on building an “experience economy” that can effectively connect people, process and technology to deliver memorable experiences.
Kovid-19 reminds us that there is always uncertainty in the future. But it also taught us the importance of being sufficiently agile to rapidly shape our business strategies and rethink the operational model. As we navigate in 2021, we are equipped with deeper learning to create a stronger, more flexible route.
By Tiger Tyagarajan, CEO, Genpact

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