Page 67 - SAMENA Trends - October 2021

ARTICLE SAMENA TRENDS

ARTICLE

Powering Human Digital Capacity within the ICT and

Non-ICT Industries across the MENA Region through

Enterprise Software Innovations

“Enterprise software remains the most
productive tool introduced into our
global business economy in the past fifty
years, and likely will be for the next fifty.
Its permanence and prevalence is only
accelerating, with digital advancements
brought forward by the global pandemic

increasing its transformative power – and
importance – to create a better future.”
– Robert F. Smith

Last year, the COVID-19 pandemic upended economies across
the globe. Overnight, stay-at-home mandates and distancing
measures became the status quo, and businesses were forced to
move quickly, reevaluating their digital strategies to enable their
continuity and survival.

This shift compelled organizations across the world – from
Robert F. Smith governments to financial institutions to education and healthcare
Founder, Chairman and CEO providers – to reinforce their core operations and processes,
Vista Equity Partners increasing their reliance on digital technologies.

As a result, digital transformation has further penetrated all
sectors of the global economy and enterprise software remains
one of, if not, the greatest drivers of business productivity and
performance.

According to McKinsey data, from December 2019 through July of
2020, global software company market capitalizations grew 20%,
faster than all other sectors, demonstrating its mission criticality
to the global economy and business continuity.

The pandemic also highlighted the need for high-speed internet
and telecom services. Governments, citizens and the private
sector relied heavily on digital connectivity to deliver essential

67 OCTOBER 2021