A survey on digital transformation among businesses, compiled by the Bahamas Chamber of Commerce and Employers’ Confederation’s (BCCEC) Digital Transformation Committee (DTC), reveals that there has been a “positive shift” in how businesses think about and use digital assets for their transformation and the continuation of their businesses, especially during the COVID-19 pandemic, the chamber revealed in a press statement, though many of those surveyed did not launch an e-commerce platform during the pandemic.
Most of those surveyed also revealed that that they do not currently use the Sand Dollar central bank digital currency to conduct business.
According to the statement, the survey was conducted in July and was a follow-up to research conducted in June 2020.
DTC Chairperson Royann Dean said in the statement that the research showed the improved usage of digitized assets as well as an improved attitude towards digitization.
“The committee attributed the positive shift to challenges and opportunities in the business environment as a result of the coronavirus pandemic,” the statement noted.
“The survey results showed that more than sixty percent of organizations employ a business continuity plan, incorporating a digital strategy. Businesses were most likely to use social media (82.14 percent), cloud computing (71.43 percent), mobile apps (67.86 percent) and web content management (67.86 percent) as part of their digital strategy. Social media was the primary means of collecting customer data and feedback.”
The study found that businesses use social media data to improve their operations.
The statement revealed that more than half of the businesses surveyed did not launch an e-commerce platform, though it was touted as one way to overcome the threats to business caused by COVID-19 restrictions.
However, the statement also revealed that 40 percent of those surveyed had cybersecurity concerns as their top reason for not putting their goods and services online.
The statement explained though, that those businesses are aware of the importance of an online presence.
And while the Central Bank has been hoping for the widespread use of the Sand Dollar by merchants, most said they do not use it.
“Compared to 2020, there was an increase in the awareness of digital payment solutions,” the statement noted.
“Many businesses indicated a likelihood of using a digital payment provider in the next six to twelve months.
“Most respondents did not currently use the Sand Dollar, the digital currency of The Central Bank of The Bahamas, but the responses were evenly split between the intention to use or not use the Sand Dollar as a payment option in the next six to twelve months.”
Dean said the results revealed a willingness to implement digital transformation in order to improve operational efficiency and create better customer experiences.
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source https://thenassauguardian.com/digitization-survey-reveals-positive-shift-towards-use-of-digital-assets/
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