Digital innovation is the process of updating your business practices with new technologies and methodologies. Far more than a fad, digital innovation is an essential strategy.
COVID-19 and Digital Transformation
Prior to the COVID-19 pandemic, companies were already engaging in DT en masse. Nevertheless, there's no doubt that the ongoing pandemic has kicked DT into high gear. If you're not ready to engage in DT, you may well find competitors stealing your thunder. Though DT requires a healthy initial investment, it can significantly reduce your operating expenses. Thanks to the pandemic, cost-cutting is the order of the day in most industries. DT is one way you can maintain a strict budget without doing too many lay-offs.