How Software & IT Businesses are Surviving in the COVID-19 Pandemic?

COVID-19 pandemic crisis has hit almost everyone in society across the world today. Surely the humanitarians and health crises are at peak currently. There is no denial of the fact that software and IT businesses have also got a pretty bad hit. But in the COVID-19 pandemic situation, they have been rapidly adjusting themselves. Since the crisis is unfolding itself, the leaders need to prepare themselves for what shall be coming in the future. There is surely the new ‘Normal’ that everyone has to be prepared for. Talking about this, the businesses of different industrial sectors need to be prepared for the same too.

Survival shows the struggle

There is no doubt that the new reality which has been shaping today’s world is quite complex. The software and IT business people have to be ready for the opportunities and uncertainties that may come in their way. To thrive and adapt, companies need to pace up and be agile and resilient. Currently, if you have a look at IT companies like Accenture, it can help the other companies and even leaders to highlight the deep chances that in the new environment be it the operations, people or the technology point of view should be done so that things get back to the same speed and at high scale as it was happening earlier.

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The concerns that Software and IT businesses are facing in the COVID-19 pandemic

The pandemic crises have surely changed the lookout and regular option for all kind of business. That is why businesses are now embracing the technology to make sure it is moved online. If you have a look at the major cities, you shall realize that some companies especially the small-scale ones are operating from home in the lockdown while some have the risk of showdown if the crises continue to be the same. Some companies reported being closed in the temporary sector since the pandemic crisis has started.

In response to the shutdown, even the restaurant and dining failed are facing a huge loss. But they have opted for the delivery and pickup solution through the apps. There are so many online stores that sell clothes and even books online. They have even changed the mode of payment to UPI or cards than cash. There are so many IT business owners who have even shown the report of a 40 percent fall which is quite more as compared to other groups that faced issues in the COVID-19 crises.

What measures are now Software and IT business taking for survival?

1. Upgraded tools

To step into the void, the IT companies are now relying on the new tools that can be helpful not just for them but also for the small-scale business. Square is one known company that has come up with the credit card reading feature that plug-in the mobile. But it also now has started coming up with efficient tools that can help to build the website and invoice. When the crises of pandemic began, this software company also came up with ideas like contactless delivery and curbside pickup to name some.

2. Connecting with changing customer habits

The software and IT business understand the value of staying connected with the customers. Post the coronavirus outbreak, so many companies are now evaluating the approach to contact the centers. They are looking forward to new ways by which employees will be able to deliver the best customer satisfaction experience. There are more digital channels they are upgrading their business with so that their business gets better support for the continuation during the crises. The companies are completely focused on the contact with fewer options but to stay connected at the online platform so that they shall be able to understand the customer’s requirement.

3. Digitalization

The software and It companies are now merging their ideas with digital commerce. This way, they are expanding their reach out to people with new service lines such as the retailers depending on offering the contactless delivery option. This kind of acceleration shall of course force the companies to reimage their digital way so that they can grab new marketplace scope with better digital customer segments.

4. Remote Working

The software and IT business are now surely facing the disruption of workflow in an unprecedented manner. At a virtual level software companies are now coming up with ways to work on short and long periods. Since communities and workforces try to perform and function while coping with the pandemic crises, remote working is now the new solution they have adapted. Employees are now opting for the remote workforce so that their health protection is not compromised anywhere. This also helps them to serve the customers in a better manner. The workforce strategies are now going agile so that the global economy is viable. Companies like Accenture have partnered with learning companies CHROs. This means they are now creating the work and people connect. This is biblically a platform which analytics-based. This way employment is nowhere compromised at all.

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5. Better working source

Since remote work is the option that many software and IT companies are adapting, they are now preparing to invest in providing laptops with upgraded technology so that their respective employees can access the system from anywhere. Companies are now looking for ways to have core staff instead of the bulk group to be available at the workplace and the rest all to be working at home.

6. The travel restrictions

There are so many companies like Google and Apple who have banned travel which is not necessary. Besides, they have also banned traveling to other counties especially to those which are badly hit by COVID-19. Nearly 55% of companies prefer to opt for virtual meets. This way the travel reduces, conference meetings are avoided and encouraged to work at home no matter what is promoted the most. The more employees stay at home and work, the better it is for them to stay protected against the virus.

7. Policy and developments communication

Companies are now using all possible channels by which the employees stay updated. The communication through email and phone for the employees is encouraged the most. There is also a special area on the site or say intranet which companies are now providing the employees with regular updates. They are also coming up with a dedicated phone number for the employees where they can know their work status.

8. Managing employee’s absences

Whether it is the vacation for which employee has optioned or the sick leave, companies are now coming up with better employee’s absence policies. If the employee gets quarantined suppose, they are still advised to work from home. And for this taking a sick leave is not needed. Some companies are also paying their employees on an hourly basis even if their hours get lessen because of coronavirus.

9. Better use of technology to succeed

Even before the pandemic crisis hit, companies surely had faced so many IT challenges. Now with such crises, companies are being pushed to operate in a new manner. Since there has been a juggle of the business, the wide range of new technologies, better priorities of the systems, and challenges are coming up. No doubt that business is still at a high risk to face the quick volume changes, decision making in a real-time manner and the security threats with a product of the employees, the IT and software business need to act and address immediately for such systems resilience concerns by creating a strong foundation for the feature. For them to recognize the resilience is the primary factor.

The crisis of the COVID-19 pandemic surely has changed the experience of many people. This is true not just for the customers but also for the employees. Their behavior and attitudes have changed; the software and IT businesses now focusing on accelerating new ways with structural changes in the customer’s goods industry and what consumers can purchase. Soon after the immediate threat of the virus shall pass, companies will have to consider the impact of the changes which they shall be making. That is why, they are now planning to come up with better communication mode, design, and even go through the experiences that are for the health benefit of the people while fulfilling their wants.

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Final verdict

Companies are now preparing themselves for creating strategies on a long-term basis for more resilience. They are now creating the systems and road mapping the talent that shall be ready for any kind of disruption that is likely to come in the future. Overall, companies are trying their best to come up with tactics that can work best for their employees. Now be that paid time off, additional bonuses, or short-term leave, the focus is more on making employees be adjusted to the remote work without getting into the comfort zone. To cope with pandemic crises is surely not so easy but to accept the new normal is important too.