While organizations have publicly talked of the benefits of digital transformation for some time, the COVID-19 pandemic forced many to pull the trigger on those plans. The crisis accelerated the adoption of digital technologies as organizations across almost every industry underwent huge changes to their operating models. Indeed, a McKinsey executive survey notes that companies have accelerated the digitization of their customer and supply-chain interactions and of their internal operations by three to four years. Moreover, the share of digital or digitally enabled products in their portfolios has accelerated by seven years. There are several reasons for this. Initially, there was the… [Continue Reading]
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