The coronavirus outbreak is first and foremost a human tragedy, affecting hundreds of thousands of people. It is also having a growing impact on the global economy. This article is intended to provide business leaders with a perspective on the evolving situation and implications for their companies. The outbreak is moving quickly, and some of the perspectives in this article may fall rapidly out of date.
Companies need to think and act across five horizons:
1. Resolve: Address immediate business and workforce challenges presented by the current situation.
2. Rebounding: Address near term cash management challenges.
3. Return: Create a detailed plan to return business to scale quickly as COVID19 situation evolves and after effect becomes clearer.
4. Reimagination: Reimagine the next normal, what a discontinuous shift looks like and its associated implications.
5. Reform: Be clear about how regulatory and competitive environments in the industry may shift.
How can Technology help your business to Return and what lessons can be learned from COVID 19 Pandemic:
1. Digital Transformation:
With the pandemic causing global lockdowns, organizations who had digitally transformed their businesses emerged out as winners. With the help of cloud solutions, data and documents do not remain in their physical form rather digitally and can be accessed from anywhere, boosting productivity in the times of social distancing.
2. Robotic Process Automation:
Here are some quick wins, RPA can help you accomplish from day1:
a) Deploy RPA solutions to automate your labour intensive business processes and save the valuable time of your workforce.
b) Improved Employee Engagement with better customer experience.
c) Does not require new IT infrastructure.
d) Well-defined governance arrangements.
3. Digital Workplace:
The Future is digital. A digital workplace is a virtual replacement of the physical office space. It is a single platform that integrates all the major business applications, information, and processes. With integration and collaboration as the main founding principles, a digital workplace creates a central place for employees to access all the business applications that are used in the organization. It allows employees to perform their work responsibilities from any device and from any location.
A digital workplace should:
Make it easy for remote employees to actively participate in work discussions
Be compatible with the existing applications so that the employees don’t have to spend too much time toggling between applications
Give users mobile access so that they can check any notification or information while they are on the move
Allow employees to upload and integrate all types of data
Analyze data and generate customized reports.
Book your complimentary assessment today to avail an independent and unbiased advise around how to return strong as a business.
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