Many businesses that survived and thrived during the pandemic believe they were able to do so because of the high levels of digital maturity within their organization, a new report from Tata Communications claims.
The telecoms company’s report states just 10 percent of enterprises have the most advanced digital operating models, connectivity platforms, and strategies ensuring secure and trusted operations. However, most of these firms (63 percent) said their revenue grew as a result.
Of the remaining 90 percent of firms without digital-first goals, almost half (45 percent) said they lost out on productivity during the pandemic as they struggled with connectivity. For 49 percent, meanwhile, cybersecurity is the number one priority going forward.
For A.S Lakshminarayanan, Managing Director and CEO at Tata Communications, a digital-first operating model is a “must” for modern enterprises.
“The scale of digitalization will be the new barometer of success for enterprises irrespective of its size or industry,” he said.
To make sure enterprises are up to speed with digitization, the report outlines three key steps: commit to a digital-first operating model, create quality user experiences with a hyperconnected system, and create a digital-first business operating on trust and security.