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BEST
PRACTICES
&
STRATEGIES

Innovation and transformation crucial to

tackle post COVID-19 disruption

Unveiled at the inaugural SAP Forward Together virtual revert to normalcy as before. In a new reality, intelligent
event, SAP released the results of its poll of 4,500 enterprises can ‘do more with less’, deliver best-in-
Southeast Asian business leaders. According to the class customer experience, build resilient supply
study, 40% of the businesses polled are still adopting a chains, while inventing new business models and
“wait and see” approach in response to the pandemic, revenue streams.”
which raises concerns about COVID-19’s impact in the
long run. The digital era is evolving into an ‘intelligent’ one
whereby businesses are facing mounting new
The German multinational software corporation, challenges amidst digital disruption and new rules to
however, reaffirms its goal to help Southeast Asian the game. Winning companies are those that transform
businesses “innovate and transform” to elevate their through innovation, more so in today’s ‘digitally
competitiveness in a post-COVID-19 world. In a wider disruptive’ world compounded by the Covid-19
context, this will help ASEAN maintain its status as one pandemic.
of the world's fastest-growing markets supporting
consumers and businesses. Implications of COVID-19 on SEA
businesses
The Covid-19 pandemic has resulted in the world
economy going through a period of ‘reset’ for the The majority of regional business leaders (63%)
‘rebound’. The race for competitiveness has already surveyed have already seen changes in customers’
started again, and countries that sprint forward now will purchasing behavior and motivations since the
leave others trailing behind,” said Rachel Barger, beginning of 2020, although 21% of businesses are
President & Managing Director, SAP South East Asia. unsure or lack insight on changes in their customer’s
needs. Amidst this shift, organizations are still moving
“For countries and companies that are complacent with conservatively with their digital transformation efforts,
a ‘wait and see’ attitude, they would be left behind – with many adopting a protective stance with the
and may even become ‘irrelevant’.” she said. "As mindset that disruption from COVID-19 will pass in due
businesses recalibrate their strategies for the long- course.
term, it is crucial to shift away from an expectation to

July 2020: Virtual-, Augmented & Mixed Reality: revolutionizing the customer experience 34