Before Covid-19 swept over the globe, the term “digital transformation” was a sigh-inducing buzzword — a phrase that all-too-vaguely implied that a business was forward-thinking enough to embrace technology and evolve their operations, products, and services to better appeal to modern needs. There was no particular urgency or real meaning attached to the term even a few months ago. But now, needless to say, the situation has changed.
As business writer Joel Anderson recently explained for Yahoo! News, “[This is] one of those epoch-shifting moments when people are forced to take note of a process they might not have questioned before, only to realize it has to change.”
Of course, few business leaders believed that the changes they made at the start of the pandemic would be permanent; most changes were made to the tune of, “it’s only until we return to normal.” But now, it has become clear that even when social distancing measures do relax, the business sector will never return to exactly as it was before.
Digital transformations have suddenly become crucial for businesses across all industries. Those undergoing a tech-centric reimagining hope to achieve a new business model, tap new revenue streams, or find new digital means to improve their products, extend their business reach, and outfox their competitors. According to statistics published in the Harvard Business Review earlier this year, 95 percent of surveyed executives believe that the…