When we talk about digital transformation, or digitization, in any quadrant of activity, we refer to the effort that a particular sector, region or country has made to integrate into the digital world.
From a simple web presence to having the entire value chain and business digitized, we are facing different speeds in the process of digital evolution. The efforts made by national companies, in their various dimensions, in exposing their business to Digital are very different realities.
Competitiveness in the reality of Large Portuguese Companies…
In larger companies, competitiveness has been undergoing a deep investment in streamlining processes. Outsourcing and securation of your structured and, to a greater degree, unstructured data has also been a priority.
We also see an application transformation that aims to convert the traditional and heavy processes of evolution of core applications into “fast track” applications.
In the desideratum of speed and competitiveness, companies work the agility of business in the face of the constant evolution of competition in regional markets, or global, where they operate.
Many of the large Portuguese organizations are already at a level of digital maturity that equates to the best international benchmarks.
… in the Banking sector
Take the effort of the national bank, in the current context of uncertainty, to implement a constant innovation. New business models brought in by Fintechs, startups with disruptive standards that shake the foundations of large organizations.
These innovative models have been an authentic wake-up call to the use of new technologies such as:
- Artificial Intelligence;
- New channels of interaction with customers;
- Digitization of subscription processes of products or services;
- Simple, real-time access to all customer information.
… in the Energy sector
This evolution is also evident in the area of utilities and energy. These more traditional sectors would not be obvious in their wake-up call to digitisation. However, based on high-success international benchmarks, the largest companies in this area are promoting significant organizational changes.
Breaking through internal silos, they begin to look beyond the problems of day to day. They pave the way for research and development by testing new business. Green energy or the creation of the hydrogen cluster are good examples.
… in the Telecommunications sector
Take the example of telecommunications companies with competition from OTT platforms (such as Netflix, Disney Plus or HBO). Even national channels have already started a strategy of digitizing their content offering, making them accessible anywhere and device.
This has led, on the one hand, to the digital transformation of these organizations and on the other to the incorporation of new offerings through partnerships with the OTT themselves.
All of these organisations have in common the shift to a digital infrastructure based on a cloud strategy. Much of its applications have been moved to large public cloud players such as Microsoft, AWS, and Google.
Technological Renewal in SMEs and SOHO
This is because there is a lack of resources for Technological Renewal or because it is not seen as strategic.
There is still a lack of digital culture, not only among employees, but in the decision-makers themselves, unable, at times, to understand the real benefits of taking the digital train and implementing new business models.
The new paradigm brought by the pandemic
The Covid-19 pandemic has accelerated the process of digitizing organizations. The most unwary entrepreneurs were taken by surprise, having to redefine their business model in a matter of days to keep it viable and be able to continue operating.
In recent times, we have seen a huge evolution. Small catering businesses have begun to join digital platforms such as UberEats and even smallfarmers have launched their fresh produce websites, promoting the circular economy.
We all feel that digital is now more present in our daily lives than before the pandemic.
The PRR in the Digital Transition of the Business fabric Portuguese
The Recovery and Resilience Plan (PRR) proposed by the Portuguese State includes a point to promote the digital transition of companies, requalifying 36,000 workers and supporting 30,000 SMEs.
The time has come to invest in sustainable development that in the long run will bring benefits to companies. Digital transformation needs to be streamlined to leverage the development of the economy at the national level.