How some businesses are surviving and succeeding in the pandemic era
The past nine months of quarantine unquestionably was the most challenging, not just in our personal lives, but the economy and businesses as well. We have seen or heard stories about businesses closing, losing profits, or retrenchment. The pandemic forced and challenged companies to learn and rethink to adapt to the disrupted business landscape. While others underwent a downfall in their business, others somehow gradually adjusted and succeeded despite the pandemic, lockdown, and social distancing difficulties.
With the whole world quarantined at their homes, we are witnessing a contact-free free world where we became heavily dependent on digital technologies and applications to do our daily activities such as working, studying, shopping and entertainment. Digital technologies bridged that gap of quarantine and social distancing protocols where it presented an opportunity for businesses to leverage and offer their services digitally. It demonstrated the value of new approaches in delivering relevant customer experiences, utilizing digital platforms, and how technologies enable business continuity.
But before the pandemic, companies like Alibaba, Amazon, Netflix, and Uber were already the top players in the so-called digital disruption and transformation in the business world. These companies changed the business game, and they have succeeded without relying on physical assets and inventory, thanks to digital enabling technologies. Today, it seemed like the pandemic answered the prolonged hesitations and questions of business owners on how going digital can help their businesses be sustainable while resilient when a crisis, such as the pandemic occurs.
Truth be told that crisis breeds innovation. In response to the pandemic situation, some companies have pivoted, redefined their business models, and invested in technologies. These businesses planned and looked at the sustainability and profitability of what new business approaches can do for their business, current and future market needs, and employee and customer experience. After all, establishing new methods externally and internally requires analyzing business maturity, new and existing infrastructures, workforce, supply chains, and consumer introspection. But these businesses took the challenge and opportunity to go digital instead of staying behind and doing nothing to keep afloat and seen succeeding in their respective industries.
Creating a digital workplace & implementing remote working
Business and technology entrepreneurs perceived that today’s demand and widespread adoption of the digital workplace is the new and permanent work environment, even years from now. It turned out that some businesses who developed digital workplace and remote working out of necessity because of the pandemic have recognized the value and profitable outcomes of it.
A digital workplace is feasible with leadership and technology integration. Leaders must have the passion and mindset to venture into having a digital workplace since it requires business structure and workforce consideration. On the other hand, technology is the essential driver since the digital workplace relies on the cloud and replaces traditional physical offices. It is the central network and platform that allows employees to access business applications, data, and collaboration tools securely from any device, anywhere, and anytime.
Leveraging digital channels to stay relevant and deliver valuable customer experiences
With social-distancing and health protocols in place, consumer behavior turned and shifted to online purchasing. Because of this, some businesses that relied on their physical stores or foot traffic adopted an omnichannel approach such as retail, restaurants, and supermarket. Others, particularly micro to medium-sized businesses, embraced and initiated eCommerce—utilizing online marketplace and social media channels. Even some leisure and entertainment industry institutions shifted to offer their services online or virtually through webinars. They leveraged the benefit of using digital channels and created an online presence to capture and mirror the changed consumer behavior. These developed approaches in the pandemic era emerged to maintain business operations, build resilience, stay relevant, and continue to attend to the consumers’ needs.
“Today, the business world is facing a new era of doing business. Several businesses, including our company, AMTI, attested and demonstrated that going digital and pivoting, benefited our company to withstand the adversity brought by the pandemic in the economy and mundane way of life. We have seen the value it delivered in terms of profitability and sustainability,” said Mr. Bong M. Paloma, EVP for Technology, Sales and Marketing of AMTI—one of the most diversified ICT companies in the Philippines and a Digital Transformation enabler. While there is no one-size-fits-all solution or comprehensive strategy, businesses that are agile, responsive, and versatile will succeed today and beyond.
AMTI, together with Dell Technologies, offers technology solutions and consulting services tailored to address the operational and workforce challenges businesses face today, such as creating a digital workplace and implementing remote working.
Talk to AMTI now to help you start with your business continuity plan, analyze your current workforce situation, and remote work readiness to come up with recommendations and solutions tailored for your business. Send your inquiries at https://amti.com.ph/contact-us/ or email us at [email protected]
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