FOR corporate survival amid the Covid-19 pandemic, many companies have resorted to digital transformation initiatives, such as innovations in workplace mobility, digital marketing and e-commerce.
Some companies have also modified and recalibrated their business models, processes and systems to address the challenges of the ongoing situation.
In June, Grant Thornton conducted a survey on the impact of Covid-19 on the digital transformation agendas of companies in the Philippines. The respondents were mostly leaders and decision-makers of organizations in various industries with assets greater than P100 million.
While the pandemic did trigger the digital transformation journeys for 17 percent of the respondents, most companies that were already spending on digital transformation pre-pandemic would continue to do so. Surprisingly, nine percent of respondents had no plans to respond to the effects of the pandemic through digital initiatives.
It is true that digital transformation is not a magic pill that will cure all problems at this difficult time. Nonetheless, Grant Thornton believes companies should digitally adapt to be resilient now and, perhaps, to alter the future of their respective industries.
Further analysis of the results of the survey can be downloaded from https://www.grantthornton.com.ph/news-centre/dx-whitepaper-download/
As published in The Manila Times, dated 17 September 2020