A report brought by Infosys and HFS Research said that Digital Business models will be powered by cloud, cybersecurity, and modernization.

Considering the impact of the COVID-19 pandemic on various industries, a joint study by Infosys and HFS Research revealed that a number of organizations have accelerated the adoption of automation, digital business models, and hyper-scale cloud to respond to customer needs.

The report also emphasized a need for change in the corporate mindset and digitizing businesses. Also, there is a need for business transformation that will reshape business models, explore new ways of uniting people, processes, and data to create ultimate value for the customers.

According to the report, there are three important IT investment themes. First, the companies are showing more interest and investment in the technology that highly promotes remote working. Secondly, there is a major talk and demand related to cloud and cybersecurity, and lastly, companies are doing their best to transform the overall IT infrastructure and apps.

Also, the enterprises will move forward to make most of their investment around business and digital consulting and IT infrastructure services.

The study reveals

  • Over 70% of the respondents plan to change their product and service portfolio to generate more customer value
  • 65% are interested in introducing an agile business model
  • More than 60% of the respondents are looking forward to digital transformation initiatives

The joint study by Infosys and HFS gave an overview of the COVID-19 pandemic and a major change in the IT industry and related perspective. It gave an open outlook for the IT and business world in this geopolitical environment.