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Deloitte to Tech Companies: Carpe Diem on Digital Transformation

Organizations should strategically ramp up on efforts that began during the COVID-19 pandemically, Deloitte said.

The pandemic forced many companies to speed up their digital transformation efforts as executives, employees, and customers flocked online to work and play.

Take advantage of this forced acceleration to continue to transform, but “more deliberately and purposefully,” according to Deloitte’s 2022 Technology Industry Outlook report.

“Instead of managing an immediate crisis, they can lay solid foundations for future innovation and growth,” according to the report.

At the start of 2021, Deloitte recommended “doubling down” on digital transformation efforts and to focus on cloud infrastructure improvements, data and analytics capabilities, cybersecurity, and business model evaluation. Also, it recommended reskilling workforces so companies can benefit fully from advanced technologies such as AI.

To enable the next stage of growth, tech companies must prioritize improving transparency, agility, collaboration, sustainability, and digital innovation. Deloitte sees the following four foundation themes for 2022 and beyond.

Four foundational themes

1. Take cloud and everything-as-a-service to the next level. As more companies embrace cloud and XaaS providers multiply, there is a greater need to manage the technical and operational complexities of hybrid and multi-cloud approaches.

2. Create the supply chain of the future. Learn from pandemic-related supply chain disruptions to build systems with greater visibility and resiliency to mitigate systemic risks.

3. Build the next iteration of the hybrid workforce. Keep learning how to further evolve work cultures and collaboration.

4. Lead the charge to create a sustainable future. Growing stakeholder pressure and potential changes to ESG reporting rules make this an imperative.

Regulatory Risks From ESG Concerns

Tech companies are aware of the “enormous” energy demands from their manufacturing processes, billions of connected devices, and proliferating data centers, according to report author Paul Silverglate, vice chair and sector leader of Deloitte’s U.S. tech team.

As such, the tech sector “may be responsible for 2% to 3% of the world’s greenhouse gas emissions,” he said.

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