The COVID-19 has disrupted the global economic situation, forcing companies to re-evaluate their business continuity plans and the readiness of their organisation to support a remote working situation.
After speaking to their clients to find out the impact of the pandemic on the technology, EY launched a report, Top 10 opportunities for technology companies in 2021, outlining the most fundamental drivers of innovation and growth for this year.
Some of the notable takeaways include:
- After a decade of focusing on growth, the pandemic exposed many tech companies to their own organisational complexity. To remain competitive, they must reset by optimising the operating model to respond to unexpected market shifts in real-time.
- While the top tech companies are embracing the transformational shift to consumption and recurring based business models, many are struggling to make necessary headway.
- More than half 54% of consumers believe the pandemic has made them more aware of the personal data they share. EY advises tech companies to go beyond mere compliance with privacy legislation and to prioritise customer trust as they look to maximise data value.
To view the full report, click here.