Digital resilience: why it is a goal for business

Recent events have demonstrated the vulnerability of most businesses to changes and catastrophes in society. This suggests a clear message: businesses need to know that the road ahead will be tough and that, more than once, they will have to reinvent themselves in order to continue.

This ability to move forward, despite having suffered a difficult situation, is known as resilience. And by having technology as an ally for this reinvention, the concept of resilient companies goes hand in hand with everything digital.

In this sense, it is important to highlight that not only external events influence the future of a business, but it is also vulnerable to internal problems, some of them derived from digitalisation itself. An example of this is cyber-attacks, which are becoming more sophisticated every day. That is why a good proactive IT security strategy is a must for a resilient company.

How to get it in business

You may wonder if your company can become resilient. Of course, but you have to work at it. The first thing a business must do is to transform itself digitally. Nowadays, this step is essential to remain competitive.

But digital transformation is more than just relying on technology, it is about immersing oneself in new processes and understanding that the way of working has changed. It is a process that involves the whole team, including the top management. Knowing this, it is necessary to make a deep analysis of the situation and for the staff to be able to commit themselves to:

  • Knowing the new consumer habits, especially those of their customers.
  • Knowing what the users need and how they want to consume it.
  • Identifying customers' purchasing potential.
  • Knowing how effective the company's actions are in selling.

Taking advantage of the fact that new technologies are closely related to data storage, you can draw very interesting conclusions about the market and the competition. In this way, you will not only have a clearer picture of your company's situation, but also of what the competition is doing. On the other hand, you will be much more aware of your strengths.

All this information is very useful in an emergency. A forward-thinking entrepreneur will know that, in lean times, it is necessary to have those resources and knowledge that he has been storing up. Therefore, a resilient strategy is one that has flexible strategies and the right information to make better decisions, always with the help of technology.

Benefits

A resilient business not only profits in difficult times. It can also be successful in good times thanks to good management, the use of technology to its advantage and a better understanding of customers.

In addition to these general benefits, companies can find other interesting advantages.

Reduced process errors and costs

Investing in task automation technologies makes human errors disappear. In turn, this talent can be used for higher value activities such as strategy implementation, personal relationships with customers and suppliers, identification of opportunities, etc.

All the above provides other benefits, and one of the most important is undoubtedly cost savings. Procedural errors cost the company money, so by eliminating them, unnecessary expenses are also reduced.

Nuevas oportunidades de negocio

Many traditional companies believe that they cannot reinvent themselves and that they are so specialised that it is difficult to change. While this can be a complex process, it is not impossible to change or modify an existing business if it is no longer working. In any case, the key is a change of attitude and mindset.

With a thorough understanding of technological resources, a business can take certain measures in times of crisis. These include finding suppliers at a lower cost, accepting and signing agreements without travel or increasing its commercial coverage area. With a complete analysis of the data, it also has the possibility to identify new needs or better understand the gaps left by the market.

In the end, digital resilience has a lot to do with a company's technological equipment and cultural transformation. Following a strategy based on this principle will help you both in difficult and good financial times.