Responding to Accelerated Business Transformation Needs

While where we work and how we live may have changed in the past few months, since we are not in a holding pattern, there is a need to quickly adapt, respond to the accelerated business transformation needs and pivot to support customers in new ways.

With a shift in how business is conducted, to operate effectively, it’s imperative to leverage technology and digital tools to support new business models. According to IDC, companies are trying to protect their investments and their ability to keep investing in key strategic areas. [1]

Digital transformation projects are key strategic priorities, and expenditures in these areas may be put on hold, but not canceled entirely because they comprise a large component of business continuity plans.

To respond to the current business climate, customers are looking to implement the best strategies to position themselves for resilience.

They’re not only looking for partners with a depth of knowledge but also an understanding of translating their business needs into key outcomes that will drive successful projects. They're looking for support in how to drive KPIs around those projects.

Resellers, on the other hand, are looking for ways to meet these customer demands with solutions to help solve their customers’ needs – as few resellers or vendors can do this on their own. It’s important to partner with an aggregator that can bring together an ecosystem of solutions.

It’s also important to understand the customers’ business goals and focus on prescribing outcome-driven solutions and not just technology.

Consider These Trends to Help Your Customers Build Their Resiliency

1.      Change Is Imperative

The current economic climate has accelerated the need to transform and implement digital technologies, it’s imperative and companies must do so to survive. Third platform technologies such as IoT and analytics support the need for improved customer experience, help create new business models and provide greater operational efficiency. These platforms and solutions will be the foundation to build resilience and prepare for the future. Companies who have already started implementing digital transformation strategies are ahead of the curve and are better positioned to pivot their business and respond.

2.     The Convergence of Information Technology and Operation Technology (OT)

As we look at the future of operations, these traditionally siloed organizations will now, more than ever, require alignment to meet customer expectations and demands, pivoting from operational-driven to market-driven. Priorities are quickly shifting and maintaining operations is critical. New and digital processes need to be implemented to ensure business continuity, to adapt to remote working and to support measures for employee safety and operational flexibility.

3.      Businesses Are Seeking Support

Technology priorities are being revisited and businesses need help to strategize and understand the projects that are going to drive value and resilience to sustain their business. We continue to see the line of business (LOB) influencing these decisions. While it is important for businesses to find resellers who have access to an ecosystem, they need the skills and expertise to translate their business needs into outcomes as well. Businesses are looking for resellers with deep knowledge and an understanding of the key metrics that can drive successful projects.

4.     Increase in Demand for Edge Computing and Artificial Intelligence (AI)

There is an increase in demand for AI and data processing at the edge, to help organizations make real-time decisions and better perform. Edge AI applications are showing value in many industries, particularly in healthcare, business operations and public safety, leveraging real-time data for security, safety surveillance and insights. AI also supports demand planning and the ability to leverage historical data for prediction purposes for business operations in times of crisis. According to Intel, the healthcare industry is designing and deploying solutions that leverage AI and computer vision technology to deliver accurate and real-time insights – to help with tracking, testing and treatment.

5.     Need to Focus on Business Outcomes

To keep up with the changing demands of customers, resellers need to focus on specific outcome-based solutions that align with their customer’s business goals and drive productivity. Solutions that leverage data to help companies make better decisions, reduce risk, provide better services and deliver more engaging customer experiences should be prioritized.

For example, in healthcare, supporting improved patient care by connecting the patient, devices and data insights is an immediate need. Telehealth and telemedicine are examples of IoT and analytics solutions that focus on outcomes and how to provide healthcare to anyone wherever they are. These solutions are helping doctors and patients connect in new ways, transmit vital real-time data and identify and treat life-threatening events faster than ever before and can be deployed immediately.

As we continue to adapt and pivot to keep up with the changing demands of customers in this new norm, resellers need to be relevant. They need to engage and support their customers, be aware of their priorities and the changing needs and come to the table with solutions that drive operational efficiency, increase productivity, and support new business models.

“The only way to accelerate out of this crisis is to increase productivity. Now is the time for digital transformation to shine, helping organizations multiply the value they produce with automation, intelligence, and connectivity because that’s what is key to a faster economic recovery.” Danielle Hernandez, research analyst of the European Digital Transformation Practice at IDC[2]

To attract profitable and predictable growth, resellers should educate customers on how to solve business needs that help meet end-user expectations.

This positioning allows for comprehensive, vertical-specific solutions that are outcome-driven and that help channel partners succeed in the IoT and analytics market through line of business (LOB) funding.

Watch for part two of this series as we discuss looking ahead to position resilient IoT and analytics solutions.

Don’t want to wait? Comment below and let's discuss how Tech Data can help channel partners respond to the accelerated business transformation needs.

You can also schedule a consultation with the Tech Data team to discover how we can help you thrive in this growing market.

[1] IDC COVID-19 Tech Index: Mid-April Results and IT Spending Forecast Update, April 21, 2020.

[2] COVID-19 Brings Laser Focus on ROI to Digital Investments: Web Conference Proceeding: Tech Supplier April 2020