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Accelerating digital transformation drives change in business thinking

December 9, 2020

Accelerating digital transformation drives change in business thinking

As the world emerges from a global pandemic which forced millions to work from their homes, businesses are looking for opportunities to improve their operations through new technology. And global professional services firm, KPMG warn these decisions are no longer just about becoming faster, better, or cheaper, but will dictate which businesses survive into the future.

As the world emerges from a global pandemic which forced millions to work from their homes, businesses are looking for opportunities to improve their operations through new technology.

Global professional services firm, KPMG warn these decisions are no longer just about becoming faster, better, or cheaper, but will dictate which businesses survive into the future.

Now, as enterprises deal with the prolonged fallout from the crisis, there is growing recognition of the importance of emerging technology to the future business,” KPMG’s Enterprise Reboot report said.

 “The pandemic is also proving that emerging technology can deliver much more than a slight competitive edge—it often spells the difference between success and failure.”

 

A tumultuous year for tech stocks 

In November investors grew cautious of technology stocks (particularly those linked to the work-from-home revolution) after their performance began to falter.

“Everybody’s coming out of the woodwork saying the same thing that now is the time to be buying value” and selling technology, Dakota Wealth senior portfolio manager Robert Pavlik told the AAP.

“People believe the Pfizer vaccine is going to initiate a reopening of the economy forcing people back on the road, back to work and back into the stores.

Mr Pavlik said there is some merit to this idea, but also described investors’ response as “extreme”.

Meanwhile Beeneet Kothari, Tekne Capital Management portfolio manager, similarly told the Australian Financial Review US tech stocks continue to look good.

 

“You’re in the middle of a 60, 70, 80-year transformation in how businesses are run, how governments are run, how consumers communicate with each other, how consumers communicate with businesses,” he said.

 

He added technology businesses’ exposure to a number of fast growing businesses and strong financials make their valuations attractive.

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Past performance is not a reliable indicator of future performance.

Sources:


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