2020 was considered a year of unparalleled disruption as the world was caught completely unprepared by the seismic impact of the COVID-19 pandemic. It was a also a year of innovation as a mitigating response to the pandemic disruption as technology allowed businesses and enterprises to quickly devise technology-aided measures for business continuity.
If 2020 was a year of great disruption, 2021 is expected to be a year where the great tech pivot happens. By pivot, we mean that businesses and enterprises will dedicate much resources to the study, knowledge building, research and development of enterprise level technologies – leaving behind the old enterprise platforms – in favour of the new ones. This will also entail leaving the old business practices in commerce or transactions which have been slowed down by the pandemic – instead, new processes basing on hybrid processes will emerge; thereby changing how businesses interact with customers and its vendors.
The Remote Enterprise Setup
Businesses big and small experienced some disruption in their work setup from last year. As on-premise staffing was affected by localized lockdowns, many were able to continue functioning due to work-from-home setups. That will be the new norm as enterprises will evolve into a hybrid structure where remote and virtual workgroups will comprise its business and information processing chain. Technological advancements in cloud computing and decentralized applications will continue to grow as enterprises will be streamlining and consolidating the supposed gaps in between lead time of processes resulting from remote workgroups.
On-premise work will not disappear but it will evolve into a mobile and flexible setup where the most important officers that verify or make decisions will still be functional even at a remote setup. This allows business continuity to be maintained and evaluated for improvements.
Automation on Customer and Vendor Relations
Customer and Vendor relations will also change basing on remote setups and online portals through digitalized processes. Online payments, self-service platforms, KYC applications and access to online banking and finance will allow real-time transactions or purchases to happen as the traditional in-store or on-premise purchases will continue to weaken. The movement of assets, bonds and financial instruments are starting to mature with technologies such as automation and Blockchain. These will soon be affecting the small to medium enterprise scene as portable technology, platforms as a service and microservices will allow greater adoption of new tech into the enterprise.
R&D and Investments on Digital and Innovation Alleys
We’ve seen innovation during the pandemic. We’ve seen restaurants fully-embrace online fulfilment portals as self-service for customers as opposed to the dine-in experience. We’ve seen utility and commercial companies employ online payments and e-commerce during the months of periodic lockdowns. We’ve seen applications and services that seemingly defy the traditional way of things as they offer a new, automated and self-service application to customers.
That is the wave of innovation and disruption that is happening in the business world – internationally and locally, big or small. As technology is now more open to flexible adoption, the rate of which businesses are adopting new tech have also accelerated. Innovation will define new markets and new opportunities for growth. There will be new leaders and new standards set.
DynaQuest is an award-winning Blockchain Solutions Integration company that helps businesses innovate and pioneer their overall structure to come up with market-changing offers. If you would like to explore new markets, new opportunities and new innovations, contact DynaQuest today.