The current health, and especially economic crisis, has made us notice the pre-eminent place that technologies now occupy, by allowing certain companies to react quickly and effectively to the commotions caused by COVID-19. In the same way, it has also highlighted the shortcomings of many organizations, those of which showed significant technological delays preventing a quick transition to work from home.
During the first weeks of the crisis, the priority was to get organized quickly to deal with urgent cases, and this was completely normal. Now, it’s time to focus on the medium and long term. While others are still wondering when exactly this crisis will end, you can act now by thinking about how you can get out of this crisis stronger than you were before it started, with the aim of preparing yourself best to resume activities.
Ask yourself these questions: is my company in control? Will it be ready to resume its activities in time? If you are not sure of your answers, all is not lost. Keep in mind that each crisis profoundly transforms our businesses and pushes us to rethink the way we work. Instead, see this as an opportunity to review your work processes and improve them for a successful recovery.
Importance of technology in crisis management
When a crisis strikes, it brings its share of disturbances abruptly and unpredictably. You must then react accordingly in order to keep maximum control over the situation. The speed and efficiency with which it is answered will make all the difference. Indeed, in times of uncertainty, you must know how to adapt optimally to all the changes that will impact your business. In this sense, technology is positioned as the most efficient way to achieve this.
Having a reliable IT infrastructure and having adequate technologies is essential for a business these days. Without the right technologies to support them, certain activities become extremely vulnerable to social, political or economic disorders. In the best cases, the return on investment that we generate will be less. In the worst case, these activities will have to be temporarily stopped while modifying the processes to make them compatible with the new reality.
Having the right technologies in hand will make it easier for you to access the essential resources and information you will need to make smart decisions that will be critical to your business. Likewise, a quality IT infrastructure will help ensure optimal performance even during a crisis, while protecting your crucial activities.
Questioning your internal processes and thoroughly examining will be necessary to fully understand the different aspects to improve the functioning of your business. Being aware of the current digital maturity of your business will help you identify the weaknesses and opportunities available and will provide direction.
The world around us is evolving rapidly, similarly with technologies. It is therefore important to know how to follow this pace to remain competitive. If you have already reached an advanced digital maturity, prioritize redundancy and performance in order to make your processes more resilient for another crisis. Conversely, if you are still far from it, it is essential to automate your processes in order to prepare yourselves. If in doubt, a 4.0 audit will allow you to see more clearly.
After the crisis: recovery
While it is important to know how to handle the current situation, it is just as important to be well prepared for the recovery. This “post-crisis” period holds just as much uncertainty and concern for everyone. However, you can see this situation as a real opportunity to stand out from your competitors, provided you act now.
There is no doubt that the race for recovery will be a very important aspect of the post-crisis period. Indeed, the first to know how to relaunch activities will be the big winners in this situation; taking advantage of the short window of opportunity that will accompany the economic recovery. Companies that invest in technology to optimize their IT infrastructure during the crisis will be the first to be operational as they will have automated processes in place in time to ensure rapid recovery.
In connection with the previous point, those who have been able to set up a robust IT infrastructure will restart quickly and will certainly be able to gain market share. It must be said, many companies are still lagging in terms of digital maturity and will try to catch up once the crisis is over. Investing in technology now will therefore give you a significant competitive advantage that will allow you to stand out in the market. While some will use their resources to catch up in technology, the companies that have taken advantage of the crisis to carry out this exercise will thus have a clear advantage over their competitors.
The deployment of this or that technology is an important decision for each company. It is therefore essential to understand that this is in no way an expense, but a real investment that will be profitable in the short, medium and long term. The right technologies will help build a robust system that will drive efficiency and build better processes across your business. As an example, think about the missed opportunities or the financial losses your business has suffered so far in the presence of the health crisis. Now imagine the impact that greater technological maturity could have had in the pursuit of your operations, by allowing you to modify your activities in just a few days, while maintaining the same level of efficiency.
For many companies, the costs of increasing their technological maturity could easily have been covered in the very first weeks of the crisis; not to mention the competitive advantage that this gives in normal situations.
Get ready now
In today’s digital world, there is no doubt that technology is evolving at a breakneck pace. If your crisis management plan does not take these major changes into account, your organization will have a hard time responding to the next crisis in a timely and efficient manner. Yes, we have to be realistic: the question is not whether other crises will come, but “when”, so we might as well prepare for them now.