The crisis has leapfrogged digitisation efforts by three to five years
Over the past year, India has seen the pace of digital adoption in some sectors soar, with many companies transforming and thriving. But at the same time, many others have stumbled and dissolved, observed Arun Balasubramanian, Managing Director (India & SAARC), Santa Clara-headquartered ServiceNow.
The risk vs reward equation always finds some innovators pushing ahead of the curve, while others watch, wait and learn, he said at the Economic Times India Leadership Conclave 2021.
“The crisis has presented the perfect environment for innovation, making us reconsider what the workplace really is – and what being at work means anymore. This massive shift at the core of the modern workplace is seeing leaders decouple ‘how’ work happens from ‘where’ work happens. The world has adapted to an entirely new way of working – and it’s here to stay.
“By some estimates, the crisis has leapfrogged digitisation efforts by three to five years, but here’s still plenty of runway left on India Inc’s path to digital transformation and our industries need to pick up the pace,” said Balasubramanian.
He also shared a remarkable story of digital transformation from the past year?
The past year ignited and defined a new wave of digital transformation – even for companies that had never considered themselves a candidate for transformation. Some organisations entered the crisis in decline and found themselves in profit overnight, while others found their stable profitability suddenly derailed.
Businesses already on the path to digital transformation proved much better equipped to manage and respond to rapidly evolving employee and customer experiences in the ‘new normal’.
“We saw customers that were on the DX journey prior to the pandemic accelerate their investment enterprise-wide, transforming their processes around supply chain management, procurement, finance, logistics, and HR.
“These customers aren’t waiting for the crisis to subside; they’re redefining their business models because the new roadmap for resilience and growth demands a connected enterprise,” he said.
He touched on some of the key areas of digital transformation journey that ServiceNow will address in the India Leaders Conclave.
The unrelenting pace for enterprises to match digital demands is only set to increase in this rapidly changing environment. Every company is chasing the same outcomes: speed, agility, resilience, and productivity to deliver the best experiences. The Conclave is a unique opportunity for executives to connect with the industry experts helping chart India’s course toward economic recovery.
ServiceNow will be serving up some incredible stories from local and global customers who are laying the groundwork to ensure their business is part of the digital workflow revolution.
“We’ll will also address why COVID has called time on siloed operations: Indian companies must be moving toward a common, connected platform with a single system of engagement for their employees, partners, vendors, customers.
“We’re particularly excited to explore how digital transformation will solve industry-specific needs across pharma, telecoms, BFSI and manufacturing. And we’re looking forward to sharing insights on the major transformation trends emerging in these industries since the crisis and distilling those insights into critical opportunities for Indian businesses,” said Balasubraminian.
He also talked about the core idea that led ServiceNow to partner with The Economic Times for India Leaders Conclave.
“Today, media plays a critical role in defining the thought-line of visionaries. For Service Now, partnering with a trusted authority like ET Edge to showcase how digital workflows are solving some of the world’s biggest challenges is about redefining the critical doorway to success for the thought leaders of this country,” he said.
The Economic Times India Leadership Conclave 2021 is an attempt to catalyse this process by bringing together business leaders who will play a critical role across sectors in pushing the economy to the target.
Multiple satellite events in different formats including Industry Roundtables, Podcasts, and Candid Conversations will culminate into a titanic digital event on 23 June 2021, where doyens of Indian business will delve into sector-specific challenges and opportunities, critical reforms, capacity-building infrastructure and impetus for overall development across all aspects of the economy, via panel discussions, keynote addresses and fireside chats.
In the current milieu of disruption and change, the leaders of India Inc are tasked with the monumental job of steering the country’s economic growth amid unprecedented challenges. The leadership code itself has undergone significant changes and is evolving continuously.
In today’s shape-shifting reality, consumer demands and preferences are changing every day, the pandemic patterns and hotspots are disrupting routine business activities, and all this is happening while organisations are adopting new technologies and digitising processes on the go.
“The country’s top minds must forge new strategies and modify those continuously with one key objective – to propel the engine of growth with utmost speed,” the conclave organisers said in a release on 17 June 2021.
ServiceNow (NYSE: NOW) is making the world of work, work better for people. Its cloud‑based platform and solutions deliver digital workflows that create great experiences and unlock productivity for employees and the enterprise. ServiceNow is an American software company based in Santa Clara, California. #technology #economy #investment #markets #digital /fiinews.com
