The latest Global Business Barometer, based on a survey and analysis conducted by The Economist Intelligence Unit and supported by SAS shows that as of late June, the possibility of U-shaped economic recovery remains possible.
Tech spending is up – technology firms had a higher than average propensity than to assert spending increases, an attitude which is promising for hopes of a U-shaped recovery.
Out of all of the ways for companies to become more resilient, greater digital agility was cited by 50% of respondents as being the biggest opportunity. That was followed by better customer experience at 45% and more innovative offerings at 42%. It could be seen as worrying to find strategic planning and business continuity somewhat lower down the list. A global pandemic was not an unknown risk prior to COVID-19, yet few seemed prepared. This often resulted in a scramble for ad-hoc solutions – digital being chief among them – rather than a methodical, step-by-step response.