Digitalization and Innovative Business Models Key to Transformational Growth

As the impact of digitalization advances across all sectors, businesses are at a crucial turning point. They must optimize the returns from their existing resources while embracing new business models to create greater value for customers amid a challenging environment caused by the pandemic, geopolitical pressures, and the supply chain crisis.

With digital transformation and new technologies already disrupting multiple industries, organizations must innovate for the future to create value and drive better business outcomes.

?Global economic recovery is expected to continue in 2022, although growth scenarios have become weaker in light of restraints such as lingering supply chain disruptions, the prolonged Ukraine-Russia crisis, and cautious reopening in anticipation of new virus variants,? Shivaji Das, Partner & Asia Pacific Managing Director, Frost & Sullivan said. ?From a regional perspective, higher domestic spending and the improved outlook for the services sector given Omicron?s relatively milder impact will help accelerate the growth momentum in Asia Pacific.?

Organizations today must focus on the development of new business models and revenue strategies that can harness the potential of cross-industry expertise to be incorporated into existing technology solutions and services. ?As new consumer segments and services evolve, there will be significant corporate investments in transformation initiatives in areas such as product or service design, customer experience, revenue fulfillment, payment, process optimization, and data analytics,? concluded Das. 

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