As governments around the world issue rules and guidelines on how to contain the spread of the coronavirus, the economic impact is mounting and experts are warning that the virus presents the biggest danger to the global economy since the 2008 financial crisis. There is no question the coronavirus is going to have economic implications for many businesses across the world. Businesses in Australia are already dealing with lost revenue from government restrictions and disruptions in day to day business activities.
Right now, everyone is distracted with news coverage of the spread of the virus, however, the real impact is in the global financial market. Factories are closing, events and conferences are being canceled, some people are losing their jobs and others are being asked to work from home, business travels are restricted or eliminated. With all these sorts of things, economic activity will be substantially affected in a negative way. However, this crisis situation presents an opportunity for innovative companies who are taking advantage of technology, digital, trends and buyer behaviors.
Successful digital transformation is about how you leverage digital platforms and other software applications you use to run your day to day business to help you become more agile when delivering products or services to your customer. Having a Software app for your business means that your customers can still conduct business with you from the comfort of their homes and you can keep them engaged during this period of uncertainty. Implementing automation solutions such as robotic process automation means that you can implement agility and flexibility into your business and respond faster to the needs of your customers.
New business opportunities now exist as a result of the coronavirus crisis, people might need groceries to be delivered to their doorsteps. They might also need to constantly check themselves to ensure that they are not infected with the virus. As we approach the winter season people might be more concerned if they experience any flu-like symptoms which means that hospitals will need to process a lot of patients and the number of health insurance claims could increase. The supermarkets will need to update their inventory much faster than before if they are to cope with the increase in demand for their products.
The more proactive you can be about helping your prospects and customers deal with this situation, the more strategic your brand positioning will be and the more business you’ll protect. It takes time to get your software and automation technology transformation strategy done, so by starting your journey now, you’ll have all the thinking done so that when people start rushing to catch up, your business is already ahead.
For example, If your customer typically has to come into your office to fill out forms before having a meeting with you, you need to start thinking about how you can get them to complete forms via your website or mobile app and how you can meet with them virtually through video conferencing tools. If your business activity involves lots of data entry work (i.e. entering or updating customer information or inventory) then you need to start thinking about how you can deploy automation solutions to help your business through this period. The automation-as-a-service model is the latest iteration of the software-as-a-service model, where businesses only pay for the automation solution they need, meaning they can scale up and down quickly and cost-effectively. The model can provide your business with all the necessary tools to begin implementing a digital workforce, while also being the best way to scale automation projects to meet budgetary requirements.
Businesses that take advantage of the software app and automation solutions available now to build flexibility and agility into their business are the once that will sail through the recession and rebound faster than their competition. These businesses can grow quickly and become highly competitive when this coronavirus crisis settles.
We can help you test and turn your business improvement idea into a smart mobile or web application with our custom software development services. Book your free consultation today and we can schedule a video conference to discuss.