Tuesday, July 27, 2021

    Experts say digitat disruption key to business survival

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    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Stellamaris Ashinze
    Lagos, June 23, 2021 Some Information and Technology experts on Wednesday said that organisations need to take full advantage of the evolving ICT landscape and embrace digital technology capable of positively disrupting their business model.

    They said this was in order to survive the challenges posed by COVID-19.

    The experts made this known at NerdsUnite, a technology programme organised by MainOne, a leading data centre and broadband connectivity firm in west Africa.

    Ms. Funke Opeke, Managing Director of MainOne, said in her presentation that digital disruption was the change that occured when digital technologies and business models affected the value proposition of existing goods and services.

    Opeke said that the outbreak of COVID-19 pandemic sparked a new era in the application of ICT to business.

    According to her, the major cause of digital disruption is the rapid advancement of technology and globalisation, which allows new business models to be introduced at an ever increasing rate with rapidly declining costs of adopting technology.

    She said that the COVID-19 Pandemic, improved Technology innovation, growth in Broadband Penetration, millennials ease with digital platforms, growth in Social Media, growth in Mobile Penetration and the shift to Work from home.

    ‘’Every institution must master and own its digital transformation in order to survive.

    ‘’These days, most businesses are going digital; COVID-19 has made it inevitable.
    On his part, Mr Mitchell Elegbe, Founder and Group Managing Director, Interswitch Limited, noted that organisations must think of the traps and triggers on their digital transformation journeys.

    Elegbe said that agency banking witnessed about 200 per cent growth right after COVID-19 and Small and Medium Enterprise (SMEs) going online which showed that adopting e-commerce had come to stay.

    Mr Bayo Adekambi, Chief Digital transformation Officer, MTN Nigeria, said that everyone was going digital and had to adopt digitisation as COVID-19 had accelerated us seven times more in success to the adoption of digitisation.

    Adekambi said that most industries had to diversify during COVID-19 to be able to make ends meet.

    According to him, EKO hotel and Suits had to diversify into offering laundry and cleaning businesses and also food delivery.

    Mr Tomi Davies, Chief Investment Officer, GreenTec Capital Partners, said that in overall there was need to build better citizens, invest in people that deliver by enhancing technology from early learning.

    The 2021 edition of the event which was virtual as well as physical was put together in partnership with Deloitte and had the theme: ‘Digital Disruption for sustainability and growth.

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