Trends and challenges in today's economy

1. The economy of the future is undeniably DIGITAL!

Online presence is no longer an option, but becomes a necessity for all economic actors.

If the ultimate goal is very clear, the strategy to achieve this goal becomes increasingly important. Trends and hotspots in the management of each participant in economic life, such as budgets allocated for the digitization of the company or for the creation of the online image become decision-makers of today's digitization strategies.

Rising prices

Due to the continuous changes, companies face higher costs for everything from fuel to goods. Additional sources of rising costs include hundreds of hours of downtime, as well as chronic labor shortages.

Request for speed

The Internet of Things (IoT) and the growth of e-commerce have created new expectations among consumers, who expect the speed of reaction from suppliers and increased reliability. Undoubtedly, the customer experience (UIX) has surpassed prices and becomes the main differentiator for any business. The shortest possible commissioning or delivery time depends directly on investments in the right technologies.

Increasing complexity and globalization

Increasing customization, changes in equipment and the geographical distribution of production points globally are making the economy increasingly complex. If we take into account the fact that everything around us encompasses several generations of technology, becoming more and more complex, all this makes it increasingly difficult to train technicians who provide commissioning or maintenance, putting increasing pressure on the demand for highly qualified technicians.

Moreover, the impact of companies globally is increasing, creating geographically dispersed workstations, and employees in these workstations must share real-time information throughout the company.

Post-COVID-19 reality

The coronavirus pandemic will not be the last confrontation with infectious diseases that will test the resistance of companies through travel restrictions and mass quarantine. With entire departments working from home and others operating with minimal staff, economic operators must adapt to unprecedented situations using the most innovative technologies, with constraints of safety and efficiency.

Differences in skills

According to a study by KornFerry, a company specialized globally in recruitment and talent training, ”85 million jobs could remain unoccupied over the next decade, the equivalent of a $ 8.5 trillion global highly skilled workforce”. In addition to the fact that the "baby-boom" generation is beginning to retreat, new and more advanced technologies are emerging, which create a strong demand for increasingly specialized skills.

Employee training has not kept pace with the digitization process.

2. Digitization is not optional

In the face of the above challenges, companies cannot hope to remain dynamic or withstand major disruptions without technology. However, many companies continue to rely on old, legacy technologies, manual processes, and even paper workflows.

In Romania, 42% of companies do not have a website, and many of the existing sites are not updated or optimized, according to Eurostat data.

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