With businesses around the world confronting the challenges that arose as a result of the COVID-19 pandemic and fully adjusting to the realities of a new normal, the need for organisations to fully embrace digital transformation has been more pressing than ever.
By adopting digital technology, they would be able to gain competitive advantage, attain new frontiers and generally stand the test of time in a sustainable and profitable manner.
The Managing Director of SystemSpecs, John Obaro, made this assertion as he recently delivered the keynote address to a cross-section of business leaders from all over Nigeria at the opening of the 2-day Executive Education Programme organised by frontline training institute, Financial Institutions Training Centre (FITC), which held online.
SystemSpecs, provider of Remita, HumanManager and Paylink, is home to some of the most innovative financial and human capital technology solutions and services from Nigeria to the rest of Africa and the world.
Represented by Demola Igbalajobi, SystemSpecs’ Executive Director in charge of Public Sector and Special Projects, Obaro said: “Businesses must innovate around the challenges that confront the world today while also leveraging the limitless opportunities that the future holds. The capability of organisations to adopt technology to enhance different aspects of their operations for optimal productivity and sustained growth will determine the extent of their success.”
Noting that the implementation of digital transformation strategies is no longer just an option but a necessity for businesses, Obaro stated that it is important to be clear on the objectives and the desired outcomes of such exercise.
“Organisations must also invest in the enhancement of processes, people, tools and products as well as ensure they maintain good standing with the laws of the land.
“Transformations do not happen on a platter; they require deliberate actions taken in the face of restricting regulations, competing priorities, noncommittal stakeholders and a dearth of resources like funds and expertise,” Obaro added.
To thrive in the economy of the future, organisations must adopt forward-thinking, end-to-end approaches.
However, Obaro also clearly identified the need for organisational cultures that support innovation because with a non-progressive organisational culture will dwarf or even be the death of any innovative strategy.
The FITC event, which helped businesses to be more intentional about improving performance through the adoption of digital technologies, robust business models and highly innovative workforce, exposed participants to innovative tools, skills, trends and techniques to thrive in an immensely competitive world.
FITC provides top-notch performance improvement solutions through learning, advisory and research services to all sectors of the economy.