UK companies to have increased spend on digital transformation in 2020

A new report by Twilio revealed that digital communications had become critical to business survival in 2020.
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Indeed, there was an important increase in digital transformation in the past year, and it will very likely keep on rising in 2021. The report notes that since the pandemic, digital connections have increased by more than 60%.

Hence, it is clear that digital engagement will remain essential to business survival and success. 82% of UK companies have declared that digital customer engagement will be critically or very important to their success going forward, while 43% suggested that revenue would be lost should their customer engagement not be digitized.

Moreover, 2020 has led us towards a hybrid economy, where nearly everything will have a digital element. Indeed, 89% of UK business leaders stated that COVID-19 accelerated their move to the cloud while 93% of business leaders plan to increase or maintain their current communications channel offerings after the pandemic. Besides, 53% said that their digital interactions with customers increased by more than 50% during COVID-19.

There was also an important rise in digital interactions with 60% of UK businesses suggesting that video communications have helped build stronger relationships with customers.
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Finally, the report found out that financial services, retail, and technology businesses were the quickest industries to adopt digital transformations and that spend on digital transformation was also up across industries in 2020.

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