COVID-19. This is the most buzzing and booming word in the world at the moment. The negative impact that the coronavirus or Covid-19 has had on domestic and international businesses across countries and sectors is unprecedented. The effect of the Covid-19 pandemic in human life is incalculable and it continues to grow in the world.
We are already witnessing its impact on the global economy and broader market. Companies are cancelling conferences and events. They are closing their campuses to outsiders. Travel is restricted. And in some instances, companies impose a work-from-home policy. Especially in the IT and BPO services industry, decision-making is stalled, and we are seeing clients cancelling planned contracts. Though the IT industry will feel a comparatively lesser effect than the manufacturing industry but it has been slowed down in its booming tracks nevertheless.
There are several factors that Covid-19 has made the industry disabled with its attack.
- Dealing with Decreased Productivity and Performance
- Fallout Disrupts Global Supply Chains
- Facility and Office Closures
- Cash Flow Crisis for SMEs
- Not Ready For a Fully Remote Workforce
So how can IT / Software Outsourcing Companies deal with Corona Virus Pandemic:
- Permitting Remote Workplace to promote work from home
- Encourage Sick Employees to Stay Home
- No Business Travel
- Training Leaders to step up
- Training with Modern Digital Skills and Tools to adapt
- Communicating with Critical Suppliers
- Consider the Location and Government Decrees
- Monitoring Customer Demands
- Reviewing Insurance Policies
- Reporting requirements and reviewing budget allocations
- Reviewing supply chains
Some of these measures are already being put in place by several companies globally but the efforts will also evolve as the situation evolves.
Having said all that, there is a bright side. The underlying need for technological advancements and modernization isn’t going away. There will always be a need for new applications and customized solutions. Finding a trustworthy and reliable partner who can help you achieve this at a comparatively lower cost is a challenge especially in these trying times. However, we at AppleTech have been doing that for several years and will continue to do so. Our expertise and experience will focus on creating your solutions while you focus on solving more strategic challenges.