Pre-COVID-19, private and public organizations were moving towards a digital business model, travelling at varying speeds. But the pandemic forced a dramatic acceleration, both in the speed of change and the required investment to digitally transform.
According to Canadian insights from KPMG's recent global survey, organizations are investing heavily in technology to address immediate concerns, ranging from falling revenue and interrupted supply chains to building longer-term competitiveness and operational resilience.
Through our work across Canada, we have observed the following common priorities among organizations as they seek to accelerate their digital maturity through the pandemic:
Preparing for economic recovery: While global economies are expected to recover after the pandemic, uncertainty continues to stress-test our economy; e.g., How quickly organizations will rebound, how will consumer and citizen behaviours shift, which ongoing geopolitical challenges will abate and which will escalate, etc.
Increasing digital access to organizational services: Technology has enabled a generational shift in our behaviours for accessing services and consuming experiences digitally.
Connecting and modernizing corporate functions: The pandemic has accelerated cloud adoption and enterprise functional transformational efforts across all sectors in order to stay connected, resilient and operational.
Building more flexible and resilient supply chains: Ongoing geopolitical disruptions and regulatory pressures continue to stress the need for agile, responsive and resilient supply chains connecting organizations with their suppliers and customers. The mantra for many businesses is changing from efficiency and low-cost country sourcing, to supply chain resilience and visibility, to reduce complexity and uncertainty.
Workforce of the future: Just as most organizations had to pivot to virtual operations through the various lockdowns, they now must consider what operating model to use in a post-COVID-19 world.
Our Canadian findings tie into the five key challenges observed in the global report below.
If you'd like to discuss any element of this research or find out more about how a Connected Enterprise can exponentially drive return on your transformation investments and accelerate the digital maturity of your organization, please contact us.