COVID-19 has forced the alignment of business and technology. IT teams need to figure out how to balance business continuity and innovation. This crisis also forces CTOs to use this disruption to rapidly adapt best practices and enable the work-from-home culture.
The IT teams also need to mitigate unplanned demand issues, security risks, and threats to safeguard their organization. With countries recovering from the crisis, CTOs are beginning to incorporate different lessons they learned during the crisis by implementing digital innovation.
CTOs are now looking at technology as a valuable asset to:
- Improve productivity
- Give flexibility in operations
- Enhance customer service
- Improve marketing strategies
- Keep records safe
Our blog post explores the role technology plays in improving business operations to ensure the crisis doesn’t stop production.
How businesses can employ technology to adapt quickly to fulfilling evolving needs?
Each business is experiencing rapid and huge changes due to the crisis. Hence, adaptability has become an existential quality for the sustenance of companies. Adaptiveness spans across three areas:
- Understanding how to recognize changing needs.
- Handling a flexible ecosystem to deliver any emergency needs.
- Modifying business models to provide value.
Incorporating technology provides a strategic solution to these issues. Data is abundantly available in today’s digital world. However, only a sharp business mind can make sense of this data and uncover deep insights to cope with changing circumstances.
CTOs can use technology to enable supply chains to ensure a seamless connection across firms. This cross-company data sharing helps improve customer service by catering to their needs well. Furthermore, technology equips you with the tools to improve business models through analytics.
A study by the platform Medium states that 72 percent of CIOs see high potential in Artificial Intelligence.
The world spent a total of $3,360 billion in 2019 alone on technology. If this huge figure doesn’t push you to invest in technology, we don’t know what will.
Why firms need remote services? How can IT help facilitate remote work?
Originally, IT deployed on-site services in such a way that all the infrastructure was present at the customer’s site. After its evolution, IT has become so ubiquitous to key business operations that most businesses have considered it to be the most important business tool. The core need of IT is for it to function anytime and anywhere. The coronavirus crisis has demonstrated why on-site IT is a bad idea for resilient and growing companies.
CTOs need to understand the benefits of providing remote work flexibility to their employees. 23 percent of remote workers state that they work longer than on-site workers. You not only earn the trust of your employees and boost their productivity but also have a chance to reduce employee’s salaries by a bit. 34 percent of employees say that they would take a 5 percent pay cut to work remotely full-time. So, it’s truly a win-win situation for everyone involved.
Many organizations have realized that even if they plan for continuity in business, no tools could’ve helped in such a huge crisis. Incorporation of IT facilitates investments in enterprise solutions that focus on information, security, and cloud computing.
How IT can ensure steadiness in remote working services to function anywhere and anytime?
Your delivery services are as good as your IT services. From supply chain to inventory management, technology dominates all the segments of your business. Complex modern IT systems are made up of highly interconnected IT services. Hence, even a small snag has the potential to disrupt critical IT operations. CTOs can solve this problem by approaching with a cloud-first plan to ensure fewer complications and easy scalability. Using cloud infrastructure, you safeguard your assets by ensuring your data lie on multiple servers. 85 percent of companies prefer keeping sensitive information on the cloud.
However, simply shifting to the cloud isn’t enough. CTOs should realize and leverage the power of several digital tools to enhance business functions. Businesses need to digitize their documents for easy availability and enhanced authenticity. Also, moving your core processes online helps your staff save time and perform their duties efficiently. Several social collaboration tools enable remote working and encourage staff to complete their training during the pandemic.
If used right, technology transforms businesses. However, CTO’s need to have an overall technological bent of mind to unlock the full potential of IT for your firms.
We recommend you begin with digitizing your core processes. You can then build up a stronger IT presence by upgrading other processes gradually. Investing in artificial intelligence, robotic process automation, and machine learning services can really push your organization forward.
So, understand and embrace technology today!