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Businesses Increasingly Lean on Technology for Success: Survey

The COVID-19 pandemic has forced entrepreneurs to put technology at the forefront of their strategy. Therefore, the demand for digital transformation services will remain on the rise in the years to come, according to Accenture’s Technology vision 2021.

The pandemic may have dealt a devastating blow to the global economy but it has accelerated digital transformation like never before.

“The global pandemic pushed a giant fast forward button to the future. Many organizations stepped up to use technology in extraordinary ways to keep their businesses and communities running — at a pace they thought previously impossible — while others faced the stark reality of their shortcomings, lacking the digital foundation needed to rapidly pivot,” said Paul Daugherty, chief technology officer at Accenture.

The pandemic made entrepreneurs realize that if they don’t adopt technology they will fall behind and may even go out of business.

In a survey the IT consultant conducted, 89% of executives said they believe that their organization’s ability to generate business value will increasingly be based on the limitations and opportunities of their technology architecture.

Around 62% of respondents said they would increase investment in intelligent technology solutions to stay one step ahead of their competitors.

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The report says now entrepreneurs can now make every employee an innovator by using technology to optimize his work and fix the “pain points”.

More than 80% of executives agreed that remote-working will remain in place even after the pandemic disappears.

Narayan Ammachchi

News Editor for Nearshore Americas, Narayan Ammachchi is a career journalist with a decade of experience in politics and international business. He works out of his base in the Indian Silicon City of Bangalore.

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