Half of organisations that provide products and services completely offline or partially online experienced decreased revenue during the pandemic while those that did so purely online saw revenue increase, according to Fujitsu’s global survey.
Conducted online and anonymously in February, the Fujitsu Future Insights Global Digital Transformation Survey Report 2021, drew on the insights and experiences of 1,200 CxOs and decision-makers in Australia, China, France, Germany, Japan, Singapore, Spain, the United Kingdom, and the United States.
Though the impact to revenue was significant for many, 78% of business leaders from offline organisations said that they were able to effectively respond to the pandemic.
The three main factors contributing to their effective pandemic responses included agility, digitalization, and employee well-being.
The results of our previous global surveys have consistently indicated that leadership, value from data, a culture of agility, ecosystems, empowered people and business integration are the organisational capabilities that lead to success in digital transformation.
Fujitsu refers to these six factors as “digital muscles.” The analysis of the correlation between the score of an organization’s “digital muscles” and ability to mount an effective response to the pandemic demonstrates that organisations with better development of these critical capabilities responded more effectively to the unprecedented changes posed by COVID-19.
Resilience is perceived as the top business priority in the post-pandemic world. The survey results indicate that many organisations have understood the importance of a flexible response in the face of changes in an uncertain world.
Many respondents also noted the importance of business process automation, data-driven management and a seamless customer experience where online merges with offline.
Many business leaders expect more business processes to become automated. The survey revealed that 44% of respondents from offline organizations predicted that more than half of their current business processes that were not yet automated would be automated by 2025. The survey also found that the premium value of face-to-face (F2F) experiences must be revisited.
Almost two-thirds (64%) of respondents from online organisations thought that the value of F2F engagement would increase because premium services that cannot be offered online will become more exclusive.
Also, 49% of respondents from offline organisations had the same opinion, exceeding the number of respondents who thought the value of F2F engagement would decline.