Digital Transformation in the Business Sector Facing the New Reality Post Covid-19

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Bustashow2022

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1 year ago

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May 07, 2022

Hello dear readers. I am happy to share a new publication with you. I would like to make an aside to tell you the following: I have a degree in education and I am currently pursuing my second professional career "Public Accounting" This article is a summary on a much broader research, which I have done as homework for a college subject and I decide to share it with you.

Now if I go to what interests us, I wish with all my heart that the content here exposed will be of great utility to expand your knowledge in general culture.

Article

The current circumstances with the spread of Covid-19 has driven accelerated economic and social change in many countries and one of the most striking consequences of the pandemic, is the hasty introduction of digitization through the use of technologies in different areas, such as the health sector, education and especially in the business sector, by increasing online transactions, e-commerce sales and acceptance of new payment methods, as is the case of cryptocurrencies through the use of digital wallets or wallets (example; Bitcoin Cash), among others. These changes have led to the emergence of new challenges and opportunities, so it is essential for all sectors to adapt to this new reality, especially the business sector so that they can offer improvements in the different processes and productivity.

In the present conditions, it is necessary to understand the importance of digital technologies (digitization) in companies, for the continuous improvement of their productivity and their permanence in the market in times of post Covid-19 pandemic.

Digital transformation as a factor for growth and opportunities

In the transition to the new digital era, it should be noted that the progress of Information and Communication Technologies is creating new challenges for companies and the professionals who work in them, so it is very important to train in this area for the formation of capable professionals with sufficient knowledge, so that they have the necessary tools to enable them to cope with these transformations.

Digitalization represents one more step towards the advancement and growth of a society where digital consumption has been massive, so this trend is not only an urgent need for organizations to remain in competition and ensure their permanence in the market, but it is also the material basis created for the widespread use of these technologies. Therefore, it is necessary to take into account the importance of digitization in the business system and how it is relevant to start this process of transformation from traditional to digital economy, as soon as possible, emphasizing that it is a process of adaptation and continuous training.

Thus, the growth of e-commerce and other online economic and financial operations are helping to accelerate the digital metamorphosis of companies, especially small and medium-sized ones, forcing them to expand their presence on the web, in order to survive in the conditions of the Covid-19 pandemic and evolve along with the current changes and thus consolidate themselves in the future as a mechanism for innovation and progress that allows part of the technological development.

In this context, digital transformation becomes a useful tool that provides convenience, a form of exchange and effective, clear and agile communication, creating new opportunities that benefit this sector.

I know that observes that digital transformation in a high percentage can be part of the strategies that entrepreneurs would implement, as a measure of optimization and growth of their companies, recognizing that the use of digital platforms provides more opportunities to overcome development challenges, through rapid technological absorption.

Post Covid-19 situation in the business environment

Since the appearance of the covid-19 and up to the present time, there have been advances in the studies on the behavior of this virus and due to this it is observed how in many countries the restrictions have been gradually relaxing, going from a radical quarantine at the beginning of the pandemic to a practically total relaxation at present, which generates that the organizations return to their normal functioning and operation; but with certain changes and restrictions, due to the fact that the virus is still present in our day to day life.

The business sector due to the pandemic issue faces the problem of having to make strategic decisions to develop new lines of business, optimize existing models and find ways to reduce costs. Therefore the Covid-19 pandemic has allowed companies to lay the foundations for the development of new markets, adapted to the current reality. Primarily it should encourage the digital market.

Most entrepreneurs consider that digital transformation is an important factor of growth and generator of opportunities in the post Covid-19 reality, which is why digitization is more than a measure to take into consideration; it is a necessity that could be inevitable and transcendental, therefore many companies see the opportunity to grow and advance based on new technologies, accepting this new reality as part of the necessary innovation to create digital capabilities, which help to optimize their functions, resources and activities, allowing better control of these.

More and more companies are joining the digital era, adopting technological tools of this nature with the intention of withstanding the existing crisis; therefore the use of digital technologies is the new model to implement in companies, in response to the pandemic and adjusted to the new reality, as it is a mechanism that has allowed during the situation of turmoil, continue working remotely, accelerating the process of transformation to digitization, becoming a tool of great help for the survival of the business structure. The Post Covid-19 situation is quite encouraging, although it is true that this virus has not been eradicated and for now there is no mechanism to do so despite the creation of vaccines, we have learned to live with it, being a process of changes, challenges and evolution.

Conclusion

Digitalization is here to stay, in this new reality where digital is part of our daily lives, it is impossible not to see the benefits it generates in all areas, but especially in the business environment. There are so many advantages that they offer that it became a tool that cannot be left aside if you want to be up to date in a changing and competitive market.

Citizens are significantly forced to go online to purchase goods and services, so consumption patterns are changing drastically, and these changes will make human life much more convenient from now on.