COVID-19 Implications for Business

Posted On May 28, 2020

I hope you’re all staying safe and healthy. I just want to share my ideas and observations about impacts of COVID-19 on businesses.

• COVID-19 has pushed some businesses into the ocean making this experience a “Sink or Swim” moment. Every organization should carefully analyze “Lessons learned” after pandemic.
• Some businesses have faced to work in a limited capacity. They should consider AI/RPA/Automation technologies for operation. Despite the perception of “Digital” was more strategic than “Digitized”, “Keeping the lights on” now looks like strategic.
• Organizations must take “pandemic” scenario into account in terms of  Business Continuity. Developing remote working capability and equipping everybody with what is needed to be productive from home (accessing backoffice applications like ERP, CRM systems) are vital.
• Companies need to transfer their traditional channel transactions to digital channels. In order to survive in these tough days speed and scale must be our keywords. Reconsider cloud options for adding on-demand scalability.  
• The issue is not so much about technology but leadeship. We are all facing threats that impact our family, employees, customers, suppliers and business partners, governmental and financial systems at the same time. If leaders fail to reinvent and adapt, organization will stall and fail. There is no silver-bullet solutions. Right now, we really need smart, adaptive, decisive and focused leadership.

COVID-19 has the potantial to accelerate transformation efforts and I’m undoubtly certain that these few months are going to change our view on emerging technologies. When we go back to our “normal routine”, we will see that the world has changed.