For Enterprises, Digital Transformation Means Continuously Learning Evolving

⇨ Digital Agility and Resilience: Businesses that embraced digital transformation early, particularly through cloud adoption and AI integration, demonstrated resilience and agility during disruptions like the COVID-19 pandemic, positioning themselves for sustained growth.

⇨ Live Enterprise Approach: Infosys promotes the "Live Enterprise" model, integrating technology, digital agility, and continuous learning to help organizations remain adaptive and intelligent, ready to respond to market changes and customer demands.

⇨ SAP S/4HANA as a Catalyst: SAP S/4HANA, combined with cloud technology, is pivotal for enterprises looking to simplify their ERP landscapes, reduce operational costs, and gain a competitive edge by integrating internal and external data for intelligent decision-making.

Virtually every business across industry vertical s — banking and finance, manufacturing, retail, consumer packaged goods, logistics, energy resources, utilities, and life sciences needs to undergo digital transformation.

But not ever y business senses how changes in digital technology, such as cloud and artificial intelligence (AI), the evolution of consumerism, and disruptions caused by the pandemic, are creating make-or-break opportunities in the global business climate.

Take for example businesses across the U.S. that permanently shut down their doors due to the uncertainty and disruption caused by the COVID-19 pandemic. According to a recent Federal Reserve Board study, there were roughly 200,000 more business closures in the first year of the pandemic than in previous years, pre-pandemic.

Businesses that pivoted to online models within weeks of the pandemic shutdowns to provide their products and services demonstrated the resilience and agility to remain afloat, and some even thrived, according to Ramesh J. Chougule, AVP, SAP Cloud and Digital Lead at Infosys.

Companies that did not invest early in the latest digital technology did not have the means to meet consumers where they live the digital world.

Chougule uses an example of a photography company that, instead of reinventing its business, remained steadfast in its old ways.

The company lacked insight into how the market was changing and how its products were being consumed, resulting in missed growth opportunities, Chougule explains. In contrast, another retail company took a different approach, making huge, strategic investments in intelligent e-commerce technologies over five years along with a shopping services arm that transformed many internal processes with digital transformation.

“These moves helped this retailer understand its customers and adopt a business model that helped the company be ready as the pandemic disrupted the whole retail sector,” Chougule says.

Strategic technolog y investments helped the company build a shopping service that enhanced the entire value chain. It connected consumers with a seamless experience, from ordering to doorstep delivery. The business experienced growth and became more prof itable in a year, even as the pandemic affected its brick-and-mortar locations.