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Business trends and technological changes in the new reality

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Specialists suggest a number of alternate options aimed toward reaching new alternatives for enterprise growth, development and consolidation.

Since 2020, particularly because of the COVID-19 pandemic, technological options have gained energy in firms. This 12 months is not going to be completely different and with this, the specialists suggest a number of traits aimed toward reaching new alternatives for growth, development and consolidation of companies.

For instance, it’s estimated that one in three consumers selected the channel for the primary time on-line to generate your purchases. This represents a development of 800% in visits to web sites and 44% in orders in comparison with 2019. In Latin America, e-commerce superior and grew in two months what would have taken 5 years, and Ecuador closed 2020 with an approximate of $ 2,300 million in gross sales by way of on-line, in accordance with statistics from the Ecuadorian Chamber of Digital Commerce.

Leonardo Ottati, common director of the aforementioned establishment, says that the purchasing scene in Ecuador was not solely restricted to millennials, however to customers of various ages. “With the quarantine we noticed the arrival of a brand new purchaser profile. Many grownup individuals who didn’t use this modality earlier than at the moment are pressured and the response was fairly good ”.

At the moment greater than ever, private expertise will come to gentle in order that from the management positions of the organizations they encourage and promote areas for collaboration between the completely different areas. Photograph: Shutterstock

This facet and others recommend that firms have a tendency to alter their paradigms. Héctor Alonso, president of Lumen Latam, explains seven enterprise applied sciences that can be highlighted as traits in 2021. The primary is the synthetic intelligence. It’s undoubtedly one of many applied sciences that may most pave the way in which. It consists of adapting the automation of the knowledge. Then they arrive edge computing (decentralize conventional storage info to evolve to the periphery), the implementation of the fifth era of the Web, hyper-automation (mixture of automation instruments, platforms and machine studying), wifi networks that may go to format 6, the knowledge facilities which have the know-how to satisfy the calls for that the market calls for and the big knowledge, which is the way forward for enterprise and will depend on firms’ knowledge analytics sources.

“The pandemic made many firms and organizations speed up their digitization processes to reply to the challenges of confinement, distancing, care in interactions between individuals, which interprets into the necessity to modify the face-to-face mannequin that they maintained each with their employees inside the workplaces in addition to with their finish clients “, says Rodrigo Burgos, nation supervisor de Belltech Ecuador.

Rodrigo Burgos, nation supervisor Belltech Ecuador. Photograph: Courtesy

Predominant challenges

Within the final 12 months, Latin America has made important progress in know-how adoption, greater than it did in a decade. “The pandemic gave a powerful enhance in know-how and course of adaptation. Firms and establishments modified the way in which they historically operated, relying extra on know-how “. Belltech is a regional providers firm current in some nations and has a broad portfolio of options, resembling platforms for contact facilities and transition to the cloud, digital consideration providers, ATMs and good self-services, amongst others.

The event of digital innovation in Latin America just isn’t homogeneous, there are sectors resembling banking, insurance coverage, retail main the way in which, as sectors resembling well being, training, eating places or quick meals they observe that transformation course of. “Ecuador is not any stranger to this dynamic in the remainder of the nations, the place some sectors are forward and are all the time all for executing options which are on the forefront to work together with their shoppers, and others who wait to see how the pioneers do to present step”, Burgos highlights.

That’s the reason it will be significant that firms make the most of the present state of affairs to implement options that permit them to face the challenges which will come up, additionally searching for effectivity. Because the research signifies Technological traits with the best impression in Ecuador for the 12 months 2020, performed by EY and IT Now, which identifies 5 predominant challenges that firms contemplate a precedence to deal with: Innovation in services or products (71%), value discount (59%), enhancing the client expertise (59%), course of automation (56%) and era of recent revenue (52%).

The 12 months 2021 can be very auspicious when it comes to know-how and digitization. “Organizations must be ready to be extraordinarily environment friendly with their audiences and shoppers regardless of the state of affairs they face. Those that know how you can make the most of this chance can have an amazing future. We have no idea what adjustments will come within the coming months and, for that, we should adapt rapidly ”.

Innovate sure or sure

Francisco Guzmán, nation supervisor of Lumen Applied sciences Ecuador. Photograph: Courtesy

Francisco Guzman, nation supervisor from Lumen Applied sciences Ecuador, explains a bit extra. “Certainly, the pandemic has pressured firms to undertake and speed up using rising and exponential applied sciences. Some needed to enter the digital world in an accelerated method in an effort to keep contact with their shoppers, suppliers and collaborators. Others, who’re a minority in Ecuador, needed to speed up their digital methods. Maintaining with the tempo of technological change and profiting from all these disruptive applied sciences has been and is the good problem and has change into the principle supply for creating aggressive benefits. The well being disaster ensuing from the pandemic has stored us bodily distanced, however has introduced us nearer to form a brand new regular, extra digital and within the face of which there are usually not many choices: settle for change, increase consciousness and put together to reply assertively to this a brand new actuality that presents us with two alternate options: Innovate or disappear! ”.

It additionally rescues probably the most important of this bounce. “These disruptive and exponential applied sciences (AI, IoT, edge computing, robotics, augmented actuality, digital actuality, massive knowledge, social media, blockchain, and so forth.), which within the final ten years have been creating and being accessible to the enterprise world, are radically altering the way in which we reside, the way in which we work and the way in which we work together in all our private {and professional} relationships. On daily basis we can have extra digital assistants to work effectively, every part repetitive and that may be automated turns into digital. In a current article by The Economist predicts that firms that don’t make investments not less than 10% in new applied sciences will disappear. And the very fact is that the life cycle of firms can be much less and fewer if they don’t reinvent themselves and adapt to the brand new actuality ”.

The pandemic precipitated many firms and organizations to speed up their digitization processes.

Guzmán cites examples of how the method of inventive rigidity in know-how is creating new firms: Netflix, Tesla, Airbnb, Rappi, Uber, Nubank, Amazon, amongst others. “We’re seeing how a brand new know-how firm can unseat one which has been doing the identical for the final 50 years. There are tons of of good, massive cash startups engaged on alternate options to conventional banking. And that is how we see giant banks on this planet shopping for monetary know-how firms and utilizing their algorithms to be extra environment friendly. However these nice transformations are occurring in nearly all industries as we all know them as we speak: banking, training, well being, leisure, media, transportation, telecommunications, all of them are being redefined and reinvented ”.

Take motion now!

With this it’s clear that firms should observe these technological tips. “As A. Oppenheimer expresses it in his books, as we speak greater than ever firms should be on the wave of innovation and have an open thoughts in order that from the administration they evaluation their processes, their methods and reinvent themselves from their essence”.

On this sense, a second annual research carried out collectively between ITahora and EY, during which 167 firms representing varied financial sectors of Ecuador participated, signifies that 75% of these surveyed agreed that the principle impression of the pandemic on initiatives know-how was exactly the duty to reprioritize these. Moreover, 65% of the businesses have adopted new enterprise fashions leveraged in know-how, nevertheless, 47% report having had lowered know-how budgets and 31% suspended IT initiatives. Regardless of this, the pandemic pressured firms to speed up the implementation of digital channels and people who had a platform needed to develop sources to have the ability to assist the brand new workload.

Following traits, firms should sure or sure undertake new technological tips. “Normally, our enterprise sector continues to be within the means of adopting digital transformation fashions, the place the cultural situation and the involvement of the leaders of the organizations continues to be incipient,” says Guzmán.

And he provides that as we speak greater than ever private expertise will come to gentle in order that from the management positions of organizations they encourage and promote collaboration areas between the completely different areas of their firms, breaking the normal silos that search their very own and restricted aims on the good enterprise goal of innovating rapidly, fostering experimentation and a tradition of error, anticipating market calls for and adapting to adjustments within the atmosphere. “The businesses which have the power to amass the information, analyze it and take agile and well timed actions would be the nice winners. The large query that firms should ask themselves as we speak is what a part of my enterprise is digitally weak? Take motion now! ”.