2020 has been a year like no other — a year marked by the incalculable loss of life; by the economic devastation of a pandemic that has disrupted people, families, governments, and economies around the world. As enterprises have reacted to the pandemic, new business trends and priorities have emerged, in particular the acceleration of the digital transformation of key business processes, for internal as well as for external stakeholders – starting with the customers.
The digitization of business processes has been underway for some time and has become a competitive advantage across many industry verticals. The pandemic has accelerated this trend and there is no reason to believe that the trend will slow down once the pandemic ends.
“Digital Native” enterprises, i.e. those born with strong digital capabilities have leveraged this competitive advantage to expand, as more consumers moved to access services and products online. Examples include: Amazon, Shopify, Facebook, Salesforce, Google, Etsy, and Netflix.
But non-digital Native industry verticals (ex. Agriculture and Mining) are also investing in digital capabilities. Two Canadian examples are Nutrien Ag Solutions and Teck Resources.
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