How will we all rise up from the COVID-19 pandemic? One thing that is true is that businesses will never work in the same way again.
Life won’t truly return to what we remember as normal until everybody feels safe to return to work and really until a cure or vaccination is implemented globally. With the current UK lockdown only partially lifted, we’re still set for more weeks and months of isolation, home schooling, remote working and social distancing.
The tech space
Most companies are suffering, especially in the SMB space. One prediction for the post-pandemic world are the small number of elite companies who will have even more market share than before. So in the tech industry, Google, Amazon, Apple and Microsoft will benefit at the top tiers. Even though some will and have lost revenue in the short-term, they will bring on board a hefty number of new customers especially the likes of Google and Microsoft in terms of cloud hosting for remote working solutions.
Obviously the tech distribution lines in China have been affected as a result of the pandemic, people will still look to purchase new devices moving forward when new models are released. When people have been stifled and unable to spend their money, they will do so when the industry recovers and supply chain availability is back on track.
The larger firms will survive as they have the cash float to do so. They are also more likely to influence government policy and benefit from their help. Whilst measures to help smaller companies have been announced, there are many hurdles to jump through and the backlog of applications are long. Time-consuming delays are causing companies to go bust even before they are able to get relief. This is a big problem that is unlikely to go away and survival of the fittest certainly plays its part.
One constant of lockdown which has been seen across the world is the increase in popularity of using video conferencing. With Microsoft Teams and Zoom being frequently used personally and professionally, together with other remote working solutions such as Office 365, this new normal of conversing and working is likely to remain. After all if companies have invested in IT and tech solutions by force of the global climate, why would they give that up especially after seeing little loss in productivity.
Companies have been turning to new technology to enable remote working, using digital payment methods and e-signature platforms in order to continue trading and to ensure business as usual remains. We see legacy systems and applications start to interrupt what a business can do within their frameworks and those companies will push forward with migrations to the cloud and investment in applications that can ensure business continuity and growth without restrictions from localised hardware or software. Some have already done so and seeing the benefits.
Technology is really the answer to many of the uncertainty posed by the pandemic. It has answered most of the “how can we continue to work from home” questions that companies were asking 8 weeks ago. The firms who have adopted new ways of using technology to successfully work remotely will continue to benefit from those business IT decisions long after lockdown restrictions have been lifted. Remote working will likely remain well above the percentage of active users prior to the pandemic and will form a significant part of everyday working life after restrictions are finally lifted. None of the ways businesses have continued to trade and work throughout this difficult period could have been achieved without the help and reliance from cloud services across the tech framework.
Whilst our home and working lives won’t be the same after the Coronavirus has been put to bed and cured, there are some reasons for hope. However, governments and organisations must learn from the pandemic and ensure that they are far better prepared in future to tackle any business interruption.
It’s never been a better time than right now to ensure your business can continue, whether it’s facing risk from a pandemic or from a cyber security issue. Click here to complete your FREE Business Continuity review.