Businesses will need to gather a lot of data and analytics, Globe Business Director Dennis Dumdumaya said during the 2021 Transformation Summit organized by the Cebu IT-BPM Organization or CIB.O. last July 12 to 15.
Even before COVID-19 struck, Globe already positioned itself to move towards digitalization, he said. With the pandemic, it has accelerated initiatives.
For the last 18 months, Globe has conducted studies about their customers. They gathered insights and data to transform these into actions suitable for business decisions, Dumdumaya said. With the aid of their technological partners, Globe can cater to the evolving needs of their customers. In consideration of this, Globe Business was able to continuously track down how the different industries have been thriving amid the crisis.
According to their collected data, they found the top industries that are ready for digitalization: IT Services, Financial and Insurance, and Manufacturing. Those deemed not ready for digitalization include: Hospitality, Transportation, and Healthcare. Although he said that digitalization rates vary across different industries because of the following different factors: nuances in maturity, propensity, and the fluctuating necessities of customers.
Later on, Dumdumaya picked three industries to discuss deeper. They were Finance, Retail, and Healthcare. He talked about each of the industries’ respective status and digitalization priorities.
For Finance, he indicated how the workflows currently are 90% manual and how the finance industry is developing for automations in terms of payment processing, releasing, and others. Moreover, businesses are increasingly looking towards streamlining their financial processes and seeking guidance from professionals in the field, like insolvency practitioners, to ensure smooth operations. If you’re interested in learning more about insolvency procedures, read more here.
For the Retail industry, he emphasized how the digital presence is of greater importance since the move to e-commerce has been very fast. It has made everybody want to have their own website, channel, and other existing platforms in order to sell their products and services.
For the Healthcare industry, one of the priorities he mentioned was to improve accessibility, especially during this situation where face-to-face engagements are limited. This is the reason for virtual consultation platforms.
