COVID-19 Moves the IT Industry into A New Era

“The Covid-19 outbreak pushed digitization forward for 8 to 10 years.” said by Mok Wai-hin Peter, head of Strategic Partnership at Hong Kong Science and Technology Parks Corporation.

Digitalization is already underway in almost every organization. The business model has shifted from intensive manpower to light manpower with technology and innovation equipments.

“Before the crisis, it have to take a year to implement the level of remote working but now it took an average of 11 days to implement a workable solution”

Some companies acted 20 to 25 times faster than expected. In the case of remote working, people actually say their companies moved 40 times more quickly than they thought possible before the pandemic. Before then, respondents say it would have taken more than a year to implement the level of remote working that took place during the crisis but it took an average of 11 days to implement a workable solution, and nearly all of the companies have stood up workable solutions within a few months. 

According to statista.com, all Information technology (IT) spending are forecast to return to growth in 2021. Enterprise software (e.g. ERP, CRM) is expected to have the strongest rebound (8.8% growth) as the remote work environments are expanding. 

Company strategies are changed. For example, a Japanese company, Fujitsu Ltd. said it would split its office space over the next 3 years to encourage around 80,000 employees of electronics maker to work remotely.

IDC Spending Guide 2018 estimated that spending on technologies and services that enable digital transformation will reach almost US$2 trillion in 2022 worldwide. Brands and companies have started to get a better understanding when it comes to the benefits of digital transformation and digitally native offerings.

Information technology development requires long-term investment. MAY Planning has strong experience on integration of digital technology into all areas of a business, fundamentally change how your business operate. We will be pleased to provide consulting service for your company in Hong Kong or overseas, please feel free to contact us anytime. 

_{Published: 26 Jan 2021}

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