TALKING

Thriving in a new era

Rates of Digital Transformation have increased exponentially as companies sought to rapidly transform their processes and operations to cope with the impact on our daily lives . During the pandemic , we saw companies find new innovative ways of engaging with their clients and their employees . Key policies that impacted supply chain , customer interactions and service levels were changed and new technology partnerships were formed to see the urgent needs of clients . However , the underlying business and IT architectures that supports most companies remain largely unaltered and complex . CEOs across the globe have acknowledged the need for greater composability of their business in order to cope with unexpected future events . To enable that composability , IT architectures must evolve to exploit the benefits of an open hybrid cloud environment , to infuse automation and intelligence into processes and workflows and to provide real time insights that are infused into critical business decision-making . For decades , IT has often been viewed as an enablement function that supports business . The pandemic has enabled a recognition that technology is at the core of everything – from strategy to execution .

Prepare rather than predict

The one thing the last two years has taught us is that we cannot predict what will happen in the future , but we can prepare for it . With the dawn of a new horizon , businesses need to use the lessons they have learnt while dealing with disruption to make sure they are better prepared for future crises . This is where strategic analysis and planning of any organisation must be front-of-mind as it looks to move forward .

Critical thinking

Critical thinking plays an important part in anticipation of enterprise risk . Analysing and assessing a business ’ infrastructure will enable improvement of risk-intelligent decision-making effectiveness and foster criticality in various business management disciplines such as resilience , predictive compliance and the ability for early diagnosis of non-compliance .

Key partners

One of the most important lessons learned from the pandemic was that businesses could indeed step up to disruptive challenges to drive innovation and excellence , and even corporate growth . At IBM , we were excited by the abundance of new partnerships swiftly forming and delivering rapid , tangible value . Identifying key partnerships will help to navigate adversity and promote urgency among industries . This in turn drives collaborative problem-solving , innovation and a willingness to all-of-society approach for a more resilient , sustainable future .

Evolving the supply chain

It is becoming clear that the current disruption created a catalyst for change and opportunity . In procurement , business-as-usual approaches are no longer enough for continuing to operate effectively , and this provides the perfect time to challenge how things have been done traditionally . Priorities for businesses will need to look at its procurement practices to change from tactical ‘ keeping the lights on ’ sourcing to ensuring long-term sustainability . This means ensuring they are much more flexible and responsive in the wake of future issues by reevaluating their entire supply chains from a much more strategic perspective .

Where is transformation happening

With the accelerating speed of change , it can be difficult to stay on top of it all and plan effectively – especially when you add in factors such as inflation , supply chain disruption and an ever-increasing skills gap into the mix . So , what should businesses be focusing on ?

Sreeram Visvanathan , Chief Executive of IBM UK and Ireland

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