Companies in the Philippines will continue to spend for digital transformation as they adopt to be resilient and prepare their industries to technological changes.
This is one of the highlights of the survey conducted by Grant Thornton on the impact of the new coronavirus disease 2019 on the digital transformation agendas of companies in the Philippines. The respondents were mostly leaders and decision-makers of organizations in various industries with assets greater than P100 million.
While the pandemic did trigger the digital transformation journeys for 17 percent of the respondents, most companies that were already spending on digital transformation pre-pandemic would continue to do so.
Surprisingly, 9 percent of the respondents had no plans to respond to the effects of the pandemic through digital initiatives.
Grant Thornton said the COVID-19 pandemic has forced business organizations to find ways to continue operations despite the government restrictions enforced to ensure public health and safety.
It said for corporate survival, many companies have resorted to digital transformation initiatives, such as innovations in workplace mobility, digital marketing, and e-commerce.
Some companies have also modified and recalibrated their business models, processes and systems to address the challenges of the ongoing situation.