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Recent Impacts on the Digital World



Accelerated Digital Workflows

COVID-19 has severely impacted the acceleration of the digitalization of workflows. In the past, some businesses have tried to hold off on implementing new digital technologies. However, COVID-19 has forced them to transition and reap “the benefits and necessity of transitioning” (Datta, 2020). The new norms that have been established by the pandemic should be implemented by companies in order for employees to be able to continue to work as efficiently and effectively as they once did in the office. For example, now that remote work will become “the norm rather than the exception”, managing complex workflows will be critical in order to provide employees with the tools they need to continue their work remotely (Bedi, 2020). Digitalizing workflows in order to simplify the complexity of managing them will lead to increased productivity for both you and your entire team.


Your Digital Transformation

COVID has caused each company to go through some form of digital transformation due to new and increased customer needs, remote worker needs, etc. However, each company has tailored the transformation to fit the needs of the employees and of the market they cater to. Since COVID, there has been a major change in the way that a digital transformation happens within a company. One article says that “The COVID-19 pandemic has compressed the cycle for digital transformation initiatives and will require that organizations to respond in an agile manner, revamping their efforts to adapt and remain competitive in the post-COVID-19 era. The digitalization of the customer and employee experiences has emerged as a critical mechanism to ensure business continuity, during and following the pandemic” (Roe, 2020).


How We Can Help

Contact us at info@loffacorp.com to learn how you can automate your Letter of Free Fund process, you prime Broker Agreements and Documentation process and your SEC 17a-13 Quarterly Count process in order to keep up with the changes in the digital world.


Sources

Anusuya Datta. “'COVID-19 Has Accelerated Digitalization of Workflows'.” Geospatial World, 19 Aug. 2020, www.geospatialworld.net/blogs/covid-19-accelerated-digitalization-of-workflows/.


“How Covid-19 Will Change The Future Of Work - Workflow™.” Workflow, 26 Aug. 2020, workflow.servicenow.com/it-transformation/prepare-for-the-next-normal/.


Roe, David. “What We Have Learned About Digital Transformation Since COVID-19 Emerged.” CMSWire.com, CMSWire.com, 12 Nov. 2020, www.cmswire.com/digital-workplace/what-8-months-of-covid-19-has-taught-us-about-digital-transformation/.

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