The Covid-19 crisis has forced companies to react immediately to protect their employees, customers and suppliers. It has disrupted operations and created an unprecedented financial crisis. Every industry, function and geography is impacted.
Over the past few months, our organizations have undergone a major stress test and are still facing constant changes. We must acknowledge that this situation will last several months until a medical solution to treat or eradicate the disease is found. This is the new reality we have to operate in.
This world has changed to a new reality:
A new kind of economic crisis that needs time to recover from
The shock has been brutal for all of the world’s economies. Recovery will be long, with many knock-on effects between different industries. Organizations have to live in this persistent landscape of austerity before the economy bounces back.
Opex matters for everyone and catching any revenue will be vital.
Social distancing is becoming the new normal
Essential to mastering the sanitary crisis after the lockdown, social distancing will last months and will change people’s behaviour longer-term, as we seek to avoid a second round of contamination.
The positive flip-side: the last few months have shown that it works and could have some positive impacts on business (e.g. travel, real estate) but it has already started to challenge operations dramatically (e.g. Sales channels & associated supply chains, ways of working, management styles).
Uncertainty on the future of business
Predicted but unheeded, this crisis has demonstrated that extreme scenarios are indeed possible. This global stress test shows the reality of companies’ strengths and weaknesses faced with a new situation. Organizations’ resilience is again becoming a clear, fundamental priority. The current crisis demonstrates also that some business models are no longer viable, while others -considered as marginal- are becoming de facto core business.The current crisis demonstrates also that some business models are no longer viable, while others -considered as marginal- are becoming de facto core business.
Faced with such extremes, deciders will have to step back and rethink their business models to cope with the uncertainty of this new reality.
Digital is seen as the solution, everywhere
Digital has been a decisive factor to avoid a major disaster, allowing people to work remotely, to run online medical consultations, companies to provide essential goods and services, and families to maintain education during the lockdown.
Companies which were not digitized had to deal with complex situations and will have to take lessons from the Covid-19 crisis to dramatically accelerate their transformation and move to the Cloud.
5 answers to address this new reality:
COST ➜ Reduce cost & increase productivityFrugal IT – Distributed Cloud – Cloud Migration – Hyper Automation with RPA – Entreprise platforms – Low code no code
REVENUE ➜ Increase omnichannel revenueProducts & Experience – Digital Factory – CRM – Marketing Automation
PEOPLE ➜ Deploy the extended digital workplaceChange Management – New ways of working on O365 and G Suite – E-Training
RESILIENCE ➜ Ensure 360° enterprise resilienceGRC – Third-party Risk Management – Digital Identity – Cloud & Data Security – SecDevOps
ADAPTABILITY ➜ Reshape business models for an uncertain futureOperating Model Rearrangement – Cloud Native Development – Ignite Business Leverage Data
Have you got any questions?
Devoteam experts remain at your disposal to provide you with more information on our latest service offering and most importantly help you pave the way to more resilient, efficient, and agile business solutions in these unprecedented times but also in the long run.