At ActionPoint we are delighted to release our latest whitepaper – ‘Digital Transformation Key Trends 2021’. In this free whitepaper, we provide an outlook on Digital Transformation trends within the Aviation Leasing sector, along with Public Sector, Agriculture and Insurance and Financial Services. Having had a hand in digitally transforming organisations within each sector, we delve into industry insights, to identify where investments should be made and how to take those next steps in your Digital Transformation journey.
“We will see the leasing channel grow in importance over the course of 2021. Distress drives opportunity. While it is clear there will be financial losers as a result of the pandemic,
those that invest at the right time in this new cycle will make significant returns.”
Head of Aviation Financing and Leasing at KPMG
Digital Transformation is often seen as requiring a foundational shift in all aspects of your organisation and it can be difficult to get started. However, what can seem like an insurmountable task
should be approached with the words of the old Chinese proverb, “A journey of a thousand miles begins with a single step”. This is where strategies such as “faster paper” allow your organisation to start slow and then rapidly accelerate. Embracing this strategy means that organisations do not have to completely change their processes from the outset, instead they use existing processes in a more efficient way, using the tools that Digital Transformation brings to the fore.
This allows your organisation to first learn the tools without having to learn a new way of working. Whilst adopting to change may be difficult, it is no comparison to the fate that awaits those who are resistant to it. Within organisations, no big impact comes without change which, according to Gartner, is the greatest barrier to Digital Transformation that companies face. By learning how to use tools and their capabilities, the organisation itself will start embracing and driving change from within.
Aviation Trends- Digital Transformation
In terms of Digital Transformation and adapting to new technologies, the aviation industry has always been at the forefront, pushing the boundaries. Within this industry, companies that aren’t willing to embrace change and adapt to new technologies fall behind to an extent that is unmatched in any other industry.
While aviation companies have demonstrated a remarkable pioneering attitude, the industry is not without its challenges. Of all industries impacted by the COVID-19 pandemic, aviation is one of the most affected. Travel bans across the world have brought the industry to a standstill.
However, while the travel industry is in flux, one key opportunity has presented itself for aircraft leasing companies. In March 2020, it was estimated that 18,000 aircrafts were parked all over the world. Cash flow has effectively been shut off with no one fully sure when it will return to pre-COVID levels. In a challenged industry, there is optimism that aircraft leasing will grow in popularity as airlines look for opportunities to save. For ambitious aircraft leasing companies, the time to act is now.
Download ActionPoint’s Digital Transformation Trends 2021
For more on this and to find out more about how other industries are embracing digital transformation, check out ‘Digital Transformation Key Trends 2021’ from ActionPoint.