EDITOR ’ S QUESTION
DON SCHUERMAN , CTO , PEGASYSTEMS
To be ready for future shocks , business leaders need to apply the two biggest lessons from the pandemic : speeding up Digital Transformation and having the right technology in place .
A year after the first lockdowns across Europe , business leaders are reflecting on the impact of COVID-19 on their organisations . Research by Pegasystems found 31 % of global senior managers and frontline IT staff said they were either totally unprepared or ‘ not very ’ prepared for the effects of COVID-19 . To be ready for future shocks , business leaders need to apply the two biggest lessons from the pandemic : speeding up Digital Transformation and having the right technology in place . Promisingly , 84 % identified preparedness for future pandemics or similar disruptions as their main focus , showing organisations are willing to take action even in the toughest of times .
The first lesson is that leaders need to speed up Digital Transformation . Coronavirus caused hundreds of thousands of businesses to shift to remote working overnight , and those that were still relying on decadesold legacy technology struggled most . More than one in three ( 37 %) business decision-makers admitted to damaging customer trust had negatively impacted their brand during the crisis as a result of communication failures , and 36 % said they lost customers . weren ’ t clear on how to get involved . This not only disenfranchises workers but also slows the pace of success . Business leaders , therefore , need to address obstacles holistically , dedicating adequate budget and improving internal communications to keep everyone in the loop . They can also expand the group involved with Digital Transformation by training employees on no code / low code software to become ‘ citizen developers ’ – employees that aren ’ t professional coders but have the data science skills to help rollout new IT systems .
The second lesson is that organisations need to have the right technology in place to be able to rapidly adapt to change . Business leaders seeking a real competitive advantage must modernise , adopting the latest digital technology and taking an active , deliberate approach when doing so . They need an agile software framework underpinning their whole organisation that they can build on and which allows them to adapt to advances in technology on an ongoing basis .
One example is a software architecture that works from the ‘ centre-out ’, whereby the technology foundation puts customers , rather than channels , data or systems , in the middle . This means organisations can best capitalise on intelligent automation , one of the technologies that will see the most substantial growth in use in the coming months . Intelligent automation , a combination of AI and case management , can increase process efficiency , improve customer experience , optimise back-office operations and more , all while minimising human contact .
Another study by Pegasystems found that IT decisionmakers are already applying this lesson by doubling down on Digital Transformation , but are facing a variety of roadblocks . It revealed 94 % of employees in Europe and North America want to be more involved in IT transitioning , but that 44 % do not know how to help . Even 14 % of CEOs reported that they
By accelerating Digital Transformation and having agile technology in place , organisations will be far better prepared for future storms , whether it be a virus , recession or another major event . Research has shown business leaders are motivated to apply the lessons they have learnt . Now , they just need to make it a reality .
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