A Moment of Truth: Facing New Realities in Light of Accelerated Digital Transformation

Technology has always been an important determinant for business success, especially in today’s increasingly digital landscape. In 2021, however, technology now defines the direction of how organisations reimagine themselves to a new reality during and after the disruptive changes brought on by the pandemic.

For Ryoji Sekido, Technology & Cloud First Lead for Asia Pacific, Africa and Middle East, Accenture, technology also pushed a giant fast-forward button to the future. “Many old organisations have stepped up to use technology in an extraordinary way to keep business and community running”, Ryoji said during the Accenture Technology Vision 2021 virtual media briefing held yesterday.

He mentioned that a wave of companies is now racing to reinvent themselves and use technology innovations to shape the new realities they face. In fact, 92% of organisations report that their business is innovating with urgency and call to action this year.

According to Ryoji, businesses need to consider four new realities they may face this year. These include:

  • Human Experience: This involves the radical and rapid intervention of technologies to the human experience during the pandemic.

  • Technology: Every business is truly becoming a technology business.

  • Work: How we work and collaborate will not return to how it was pre-pandemic.

  • Sustainability: Sustainability is the new digital. Companies are rebuilding their foundation, and sustainability, fairness, inclusion and access are critical.

To expound more about such technology trends in 2021, Ryoji passed the discussion to Marc Carrel-Billiard, Lead - Accenture Technology Innovation & Accenture Labs. Marc said that organisations had to reinvent themselves in record-time instead of spending years thinking about implementing technological advancements for their business continuity.

“Should I move to the cloud? Should I automate my business? Well, you have no choice. You need to do that and it's not about doing that in one or two or three years. It’s doing that in a matter of months. That's what we call a moment of truth”, Marc explained.

Marc then listed five technology trends that he believes organisations should consider in order to succeed in their digital transformation journey.

  1. Stack Strategically – Building and wielding the most competitive technology stack means thinking about technology differently, making business and technology strategies indistinguishable.

  2. Mirrored World – Bringing together data and intelligence to represent the physical world in digital space will unlock new opportunities to operate, collaborate and innovate.

  3. I, Technologist – Various user-friendly tools are democratising technology. Powerful capabilities are now available to more business functions. Every employee can be an innovator, keeping the business in lockstep with new and changing needs.

  4. Anywhere, Everywhere – Leaders should rethink the purpose of working at various locations and lean into the opportunity to reimagine the business in this new world.

  5. From Me to We – Multiparty systems can help businesses gain greater resilience and adaptability, unlock new ways to approach the market and set new, ecosystem-forward standards for their industries.

These trends are now more important than ever in realising the digital transformation of businesses, unlike pre-pandemic, where companies did not think highly of such steps. According to Marc, following these trends is now what differentiates organisations from each other.

This gap in adopting technologies is widening more and more, Marc added. Before, companies may have not taken any step. That was their moment of truth where they looked back and realised they were not prepared to face the pandemic, or any disruptive changes for that matter.

“But today, businesses now want sustainability. They want responsibility. They want at least for once that people started collaborating with each other to create this new world that we're talking about”, ended Marc.

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