Five key findings explore the impact and state of digital readiness before and after the pandemic.
How well were organizations prepared for the digital demands of COVID-19?
What impact did their level of preparedness have on revenue?
Nearly 300 executives revealed their experiences in our recent TCS COVID-19 Business Impact Survey.
Five key findings
1. Most were caught off guard
Most companies lack these essential digital capabilities.
2. A few standouts have outshone the rest
Companies with essential digital capabilities (“Leaders”) have held up better during the pandemic than those without (“Followers).
3. The remainder are racing to catch up
Despite cash concerns, the majority of all executives are not reducing digital transformation (DX) budgets.
4. The conundrum: Invest … but where?
There is a significant lack of clarity on how to strategically move on multiple digital fronts cost-effectively.
5. Remote employees take center stage
Shifting to work from home was not a big challenge. Keeping remote workers agile, secure and productive is.
Source: TCS COVID-19 Business Impact Survey 2020
Leaders acquired six essential digital capabilities that set them apart from the rest.