Spark from Maxis Business is back with, Embracing Forced Disruption
By Digital News Asia August 7, 2020
- Topics that will resonate with current business challenges
- Learn from businesses that have successfully harnessed digital
It seems like every other article you read starts with some variation of the “The world has changed – overnight”. And it’s actually true. Entire industries have either been up-ended or brought to a halt. And while it is all too easy to focus on the bleak and the dire, in the midst of all this bleakness, there are still success stories to be told.
It is not a cliche to say that within crisis lies opportunity and with strong leadership, organisations may find that now is the time to accelerate digital transformation.
With there is no real timeline for the pandemic’s end and constant flux in the global economy, what is becoming increasingly obvious to business leaders is the mantra, Transform or Die. For, what the pandemic has proven is that this ‘new normal’ must be accepted as the new present and future.
There is no going back and businesses that had already begun or were in the process of incorporating digital tools are now far more able to weather the current upheaval.
One example of those tools and their value is one geared towards short-term cash-flow, created by cloud-based accounting software firm Xero. It can project bank balances 30 days into the future, which helps customers see the impact of existing invoices and bills, allowing them to make better decisions about business plans and scenario planning.
A key decision companies have to make is around work from home where the acronym WFH has already entered mainstream lingo. Bosses nervous about loss of productivity will be reassured by the experience of many companies which have minimal impact. The 2020 Work-From-Home IT Impact Study by Sectigo and Wakefield Research is among many studies that have collected data on workers who suddenly found themselves forced to work from home during the global lockdown from March to May.
Specifically looking at IT professionals on how the pandemic affected productivity, 49 per cent felt that employee productivity had increased since the start of widespread remote work, with another 35 per cent feeling it stayed consistent with previous levels. Interestingly, only 16 per cent felt productivity had decreased.
What this shows is that a digitally-empowered workforce can thrive even within the most adverse of circumstances, and this has become a new reality for most firms, even if it has been spurred by necessity and not by choice.
While there has been a lot of focus on the tools use for WFH, those however, are just part of the digital transformation scenario. What is most important is that businesses first accept that a digital transformation is necessary and prepare to accelerate their current plans or start on them if they haven’t already.
It is not about embracing digital for its own sake but to harness it to create not just value but resilience. Clinging to past norms will just ensure the hastening of a business’ demise.
Under the present circumstance, what better way is there to gain insight into improving your own digital roadmap, and avoiding mistakes, than by seeing how other firms have successfully managed to harness digital technology in the most effective way?
Hearing local stories on the ground from firms who understand the local landscape and the specific challenges in the Malaysian ecosystem: that is what you will find in the Maxis Business Spark series of virtual events. Last year’s conference was a physical event with the theme, Igniting Innovation and attracted 500 participants.
With this year’s theme being, Embracing Forced Disruption, three online sessions will be held where you will hear local experts speak on topics that will resonate with current business challenges and scenarios.
The first of these virtual events will be happening on 11 August 2020 (Tuesday), from 3:30 pm to 4:30 pm, and will feature an expert panel sharing their experiences throughout the MCO, and how their organisations have embraced forced disruption. The panel includes:
- Natalia Navin, Chief Human Resource Officer, Maxis
- Yusri Yusuf, Senior Director of Corporate Strategy & Risk Management, Proton
- Azran Osman-Rani, CEO, Naluri Hidup
To register and confirm your spot, head to business.maxis.com.my/spark.