It's time for your organization to think smart forward.
You can't get around it. These are extraordinary times. The COVID-19 pandemic has affected every industry, organization and person, in every facet of our lives. Even the most mature companies have never experienced this level of unrest before and virtual working has become the new standard. We can never be so unprepared again - it's time to think smarter.
The scale and scope of the COVID-19 pandemic has shocked the world unpredictably.
It is nothing compared to the World Economic Forum's top 10 list of global risks in terms of probability published earlier this year.
Virtual has suddenly become the standard way of living and working. As a result, issues such as security, privacy and ethics are becoming more and more prominent, and never before have companies had a greater need for resilience and trust.
Yet there are plenty of reasons for optimism and opportunity for those who see them. Over the past few months we have proven that we can learn and adapt quickly if we can detach ourselves from what we are traditionally familiar with.
What we buy, how we live and how we work... has changed forever, and faster than we thought possible. Cloudme Business Intelligence Research shows that 46% of people who have never worked from home before plan to work from home more often in the future, and that the current share of online purchases will grow from 23% to 43% after the outbreak. Meanwhile, experts predict that the use of telehealth and telemedicine will continue to accelerate and be normalized post-crisis. Our habits are changing rapidly.
MIT Sloan Center for Information Systems Research:
“… we see these challenging times as an opportunity to rethink how we do business… This will include transforming your company to have an even better customer experience and more efficient operations.”
Business continuity remains an important priority, but you also need to set your sights on the long term. To think again about how you do business, we encourage you to focus on six priorities:
Manage and control your data, not just to store it, but use these data insights to make informed decisions that will determine the future of your business.
Customer service and Operations
Be able to support the changing needs of your customers and create opportunities to explore new channels to the market.
Optimize talent and simplify procedures
Strengthen your employees to respond quickly and efficiently to external changes. Give them the tools to simplify and automate processes.
Building and protecting the core
Protect your company's core business and build a resilient and scalable operation that's flexible for the future.
Products and Services
Respond quickly to changes affecting your product portfolio to minimize disruptions and anticipate how products and services will evolve in the short and longer term.
Financial control and optimization
Reduce operational costs immediately, move to a scalable cost model and free up capital to accelerate growth opportunities.
Think smart forward to React, Adjust and Innovate your business
Most organisations will go through three phases during their recovery process from the consequences of the COVID-19 pandemic.
The majority of organizations and companies will be in React Mode for the first three to six months, with an absolute focus on business continuity and regaining control - allowing employees to work more flexibly and customers to access goods and services while maintaining core business.
Adjust Mentality. They are using the current global disruption as an opportunity to reconfigure their operational models to be more modular. In response to changing market demand, they are adapting their products to refill their portfolios. For example, the transport and hospitality sector are implementing new digital protocols that allow the same services to be offered with less human contact.
In the course of the next 12 to 18 months, we expect that organisations will increasingly shift their attention to how they can innovate and grow and how they can reposition themselves within their market area. While emerging technologies will help organizations increase efficiency. In each phase, you need to think about the different dimensions of your priorities: Financial control and optimization, optimize talent and simplify procedures, build and protect the core, customer service and opetatons, products and services.
Use today's global disruption as an opportunity to reconfigure your business operations to a more modular and scalable business model.
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Whilst it's impossible to predict the future or avoid disruptions, you should better prepare and adapt to the impacts they have to perform beyond your competitors.
Activate the full power of your organization and ecosystem to unlock operational efficiency and create new revenue streams in response to changing market dynamics. If your business wants to think smart forward, it must look to reuse existing opportunities to create new ones.
Cloudme Business Intelligence combines business strategy, agile innovation and deep technology expertise to help you think smart forward, so you can transform faster and smarter. We have developed a number of solutions for your people, processes and digital technologies to accelerate business results.
Customer Experience (CX)
Creating new experiences that generate revenue and increase loyalty.
Let Cloudme Business Intelligence partner with you to React, Adjust and Innovate your business.
Contact us today to help your organization identify the strategic challenges that will make your business and your products more resilient. And help you optimize your services to make them more attractive to your customers.