The pandemic has accelerated the digitalization of business processes for 39% of respondents out of 74 surveyed managers of companies in various sectors of the economy, 42% intend to reduce office space, according to a report “Business leaders’ view in Ukraine 2020: Special issue of COVID-19” by KPMG company in Ukraine. “Leaders understand that increased digitalization is one of the main drivers of organizational development. Companies have to reсonsider what customers want and how they can achieve it,” the report said on Friday.
However, capital shortages and a lack of consensus on key technology trends are the biggest challenges in accelerating digital transformation, the report said.
At the same time, the most successful were converting operations into a “figure” (39% of respondents) and the creation of new digital business models and income streams (36%), according to the survey, which was conducted from July 15 to August 31 of this year.
At the same time, 30% indicated that progress in digitalization not only accelerated, but put the company forward for years to come.
When asked about the barriers to digital transformation, 22% indicated a lack of capital to accelerate progress (7% globally).
According to world leaders, the biggest challenge is to focus efforts and investments in areas that will be promising in the future, while avoiding areas that may be only a short-term response to the pandemic.
As a result, 33% of global CEOs identified the biggest challenge in accelerating digital transformation as “a lack of understanding of future operational processes.” Companies need to understand if COVID-19-related changes (such as consumer behavior) are indicative of an ongoing trend, or just a temporary effect of the pandemic.
In Ukraine, “a lack of understanding of future operational processes” was recognized as the main challenge by 14% of managers , the authors of the report said.
Regulatory pressures were cited by many respondents as the top threat to businesses in 2020, while executives prioritized staff shortages last year.
“This risk continues to be on their radar, but has shifted to fourth position,” added the authors of the reports.
At the same time, according to the survey, 73% of respondents in the world and 39% in Ukraine are convinced that remote work has expanded their access to the pre-personnel reserve.
BUSINESS, DIGITALIZATION, PANDEMIC
