Business has changed so drastically in the past two years that every energy and chemical company is facing the fact that their business plans of yesterday are irrelevant. The way these companies buy, sell, and engage with customers has changed for good. Transforming the business to handle the impact of that change is consuming the industry — especially as oil and gas prices change every minute.
Before the pandemic, buying and selling had already began to move to a virtual space, driven by changing buyer preferences for online commerce. Energy and chemical companies will need to continue to drive this digital transformation in order to grow business, be competitive and meet the demands of the market.
Moving forward with this transformation depends on where you are in terms of responding to the changes in the market:
- Short-term: survival
- Mid-term: sales enablement
- Long-term: optimization
In our latest ebook, Accelerating the Move to Digital for the Energy & Chemicals Industry, we describe the major characteristics of each phase and outline what energy and chemicals businesses must do to survive and thrive in their ongoing move to doing business digitally.