Digital Transformation:

In mid-November 2019 few deaths were recorded in the town of Wuhun in China. What was then seen as common flu and Pneumonia has grown into a pandemic battling the entire world to a standstill despite all effort to contain it. COVID 19 as it was named by WHO in February 2020 has spread to over 200 countries and has infected over 2 million persons as at mid-April 2020.

COVID 19 pandemic no doubt has put the world in panic mode. There are fears and uncertainties across the world. There are cries of pain, lack, loss, hunger etc. Carefully crafted economic blueprints and projections have been shattered, corporate strategies and plans have been disrupted. However there are salient facts in all of these; many needs and gaps have been created by the crisis, hence there are great opportunities in providing solutions to these problems and filling these gaps.

Change creates uncertainties, it also creates opportunities for growth.  The events of the recent past have changed the dynamics of business, it has changed people’s way of life, it has changed customers’ expectations, purchasing power and spending habits.

To survive the crisis period and excel in the post-COVID 19 era, you have to respond accordingly by (digitally) transforming your business to align with new realities. This involves rethinking what you do and the solutions you offer to meet the present and future needs of your customers. This may mean a total shift from the past. Don’t think of fixing the challenges of the past, think about creating a new future without the limitations of the past. A true digital transformation creates a new model that does not have the constraints of the past.

In transforming your business to excel in the post-COVID 19 era, you must take a holistic view of your business;  you will need to rethink your business model, your operating model, your product line, your delivery and distribution channels, your resources, your supply chain and most importantly your customers.

The COVID 19 pandemic and the consequent need for social distancing and lockdown in most part of the world has pushed digital transaction and online interactions to the fore. Many organizations are now scrambling to use technology in their business operations and interactions.

It’s important to note however that digital transformation is more than using digital tools, like having online meeting, selling online or having a mobile app.  Digital transformation is more of a change of strategy than a change of technology or introduction of new one.  As the Ayoks Digital Model postulates  “successful digital transformations are centered around inspiring business vision, nurtured by the right digital culture and mindset, follow iterative processes and are powered by one or more digital technologies”

Obviously the future of business is digital, and digital transformation holds the key to succeeding  and exceling in the post COVID 19 era. However digital transformation can become a burden if poorly executed. Yes, technology can bring additional cost, increase complexity and points of failure to your business if not handled the right way.

Reinventing your business to leverage digital technology must be done strategically, proactively and holistically.  It must be done with the focus on creating value for the customer. You must look at making the customer journey and experience better and more seamless. You can think of ways of earning extra revenue without necessarily placing additional financial burden on your customers.

The business world after COVID 19 will be quite different from the one before it, hence businesses must do a ‘new’ SWOT analysis to determine their ‘new’ Strength, ‘new’ Weaknesses, ‘new’ Opportunities and ‘new’ Treats. This will provide the foundation to plan for the future.

Don’t hold on to the past, plan for the future.  Most people are eagerly waiting to go back to their normal life after COVID 19, unfortunately the life before COVID 19 is gone for good,  many  will be disappointed  because what they want to go back to no longer exists, some will go back to their offices  and find out that the work they did no longer exists, some will go back to the market and find out that their customer no longer exists, some people will go back to business and find out that the market for their produce no longer exists.

There is no need to panic  but there is every need to be prepared. You may find out that the strength of your business has been weakened or eroded, don’t despair, don’t fight the change but think and you will very likely discover a new strength that was lying dormant before now. Kodak tried to resist and fight the emergence of digital photographer but failed and paid dearly for it.

Great opportunities abound in the midst of the crisis for the discerning, monopolies previously held by big corporations and multinational have been broken. Organized supply chains have been distorted. And while organizations and individuals try to realign and reorganize, there will be opportunities to fill these gaps and you can position to key into them.

For example a company that normally gets her supplies from a foreign supplier, which has been cut off by the present restriction in international transactions and movements will quickly resort to any available local supplier who can meet their need.

The forced lockdown has proved the feasibility of remote workforce, there are chances that even after the lockdown some companies will explore options of remote workforce for some tasks  hence creating an opportunity to secure jobs and projects beyond your geographical location. 

Other possible areas of increased opportunities include;

• Medical supplies and delivery
• Healthcare services
• Personal hygiene products
• Online learning and management services
• Disaster and emergency services
• Industrial cleaning services.
• E-commerce and delivery services
• Local supply of raw materials
• Food production
• Corporate/private transport services

It is important to note that no one can confidently predict the future with precision,  It is therefore not a time to make big bets on new projects. The rational approach is to use agile methodology; develop minimum viable products, build a model, test the market, get feedback and enhance the product and the model, then scale up leveraging digital channels.

The best generals emerge in times of war, every crisis throws up new champions. There is no need to fear, God knew about this before you were born and He equipped you with everything you need to handle it, you just need to awaken the sleeping giant within you.

It is not the time to look helplessly abroad, the solution will not come from abroad, the solution is above and that solution is already place in you.

It’s a time to think not the time to cry. Think of how to meet the many needs out there even from your room. Think of how to key into new opportunities using technologies available to you starting from your mobile phone. Do you know that the smart phone in your hands has more computing power than the device that took man to the moon? That’s very true and possibly gives you an idea of the power in your hands.

Think! My brother Think, My Sister Think. Technology gives you power but does not tell you what to do with the power.  Think! there is something you can do at a time like now, there is a value you can offer. Package it and sell that value with digital technology.

The reality of a digital world has dawned on us faster than we possibly anticipated.

Think Opportunities.

Think tomorrow.

Think Digital