Bouncing Back from COVID-19: It’s Time to Jumpstart your Business Idea
Let’s face it; there has never been a better wake-up call in the history of mankind than COVID-19, also referred to as Coronavirus.
The past year has been extremely challenging and dreadful for all businesses around the globe. While some managed to stay afloat by adopting innovative business strategies and agile mindsets, others were left with no other option than to dissolve their business operations with a heavy heart.
Thinking of resuming one of your major projects that were postponed indefinitely due to the pandemic?
Well, the files that were gathering dust for almost a year now will finally see daylight again. Yes, you heard it right. The software development projects that were put on hold or could not be undertaken in 2020 because of global lockdown will surely see a ray of hope in 2021.
Adjusting to the new normal
Even the darkest clouds have a silver lining, and what could be darker than Covid itself? Despite the countless negatives brought by Coronavirus, it has significantly restructured the global economic order in which businesses & society traditionally operated.
This blog post is an attempt to answer the most critical question posed by leaders across the public, private, and social sectors, i.e. “How businesses across the world are adjusting to the new normal?”
Well, we’ve tried to gather as much helpful information we can to give you a glimpse of what the current situation is and how you can effectively resume your business operations from where you left off a year back.
Keep reading to uncover the facts you’ve been waiting to read for so long…
- The year 2021 has already brought in a lot of positivity and hope in the form of the Coronavirus Vaccine.
- Businesses and industries are coming back to life as the world slowly yet surely begins to reopen and get out of the COVID slumber once and for all.
- Leaders of various sectors are reassessing their entire business system and planning for contingent actions in order to be more productive both in terms of pace and scale.
- In addition to that, there’s been a discontinuous shift in preferences and expectations of all stakeholders, including investors, business partners, suppliers, and consumers.
- And as preferences continue to evolve, businesses that are reinventing themselves to make the most of tendering opportunities are bound to succeed.
- Also, the latest “Covid Stimulus Plan” of USD 1.9 trillion passed by U.S. President Joe Biden provides some economic relief to small & medium-sized businesses that were severely impacted during the pandemic.
- To be precise, USD 440 billion is to be provided to U.S. businesses to help them survive and thrive in the post-Covid recovery and beyond.
All these stats clearly indicate that the world is now on the verge of defeating the COVID-19 pandemic, and it can be effectively done by adopting a pro-active business strategy and an agile mindset.
Now moving forward to how businesses are responding to the changing winds.
How businesses are responding?
Enabling flexible product flow: Businesses worldwide are making their distribution centers more flexible to ensure that their product inventories align with their consumers’ demand.
Bolstering online presence: Since more and more consumers in the wake of COVID-19 are moving towards buying services and making purchases online, businesses are bolstering their online presence in order to accelerate direct-to-customer sales.
Accelerating the shift towards digitization: The recovery from the Covid-induced slump will be digital, and it has already started across the globe. Businesses of every size and type are embracing digitization and cutting-edge technologies like Blockchain, Artificial Intelligence (AI), Augmented Reality (AR), and Machine Learning (ML) to cope with the new normal and stay competitive in the global market.
Rewiring business models: While some businesses are riding on the digitization wave and experimenting with new & emerging technologies to get out of the Covid ‘crisis mode’, others are focusing primarily on rewiring their business models so as to meet the new market demands.
Using new data sets to improve business operations: To stay competitive and keep sailing through in this tough time, organizations are developing next-generation data sets and critical-support business models for optimal performance.
Modernizing technology capabilities: Businesses are creating adequate & rightsized plans for shifting to variable cost structure and assessing possible cyber risks. Also, they’re leaving no stone unturned to set up a cloud-based data platform and automate a software-delivery pipeline.
Supporting new interactions and services for customers: Various companies are responding quickly to the new digital customer behavior by adding new services to their portfolio, including crisis-related insurance, and shifting customer interactions to online channels.
Pivoting your business agenda and implementing these changes will be critical for the successful recovery of your business.
The numbers say it all!
- According to a Digital Strategy Survey, organizations that will include AI-based tools and algorithms, along with design thinking, into their new offerings during the crisis will see a significant first-mover advantage. For deeper insights, look at the image below:
- 8 out of 10 organizations that make minor or negligible changes to their business model fail to achieve their business goals. Above all, companies leveraging AI tools and algorithms and using those to redefine their business at scale are more likely to outperform their peers.
- According to a recent study, U.S. consumers in the wake of COVID-19 are accelerating the adoption of digital channels, a trend seen across global regions. For an elaborated view, glance through the image below:
Outsourcing Software Development — The Ideal Way Out of the Catastrophe
Couldn’t execute a major software development project due to the pandemic? Well, the tables have now turned, as it so often does in life. The projects that have been halted or delayed for several months will now get the go-ahead.
Simply put, sitting next to a developer and getting your software developed in person is no longer an option, keeping in mind the Covid-19 scare. So, it’s ideal to either hire a freelancer or a software remote development team to take care of your project from start to finish.
Confused about whether to hire an expert freelancer or a remote dedicated software development team for your project?
Well, outsourcing your software project to a reliable and dedicated offshore development team is the best way out of the Covid crisis.
- One of the key benefits of outsourcing your project is the potential to tap into a skilled and experienced workforce in a country with a lower cost base.
- While the cost benefits of outsourcing are always a great attraction, there’s also an increased focus on supply chain robustness and resilience.
- Over 70 percent of companies at present prefer to outsource their software development project to reap the numerous benefits associated with it.
- According to a recent study, ever since Coronavirus came into the picture, outsourcing has made a powerful impact on the growth, productivity, and bottom lines of various businesses in the U.S.
- According to New Clutch Data, 26 percent of businesses with fewer than 10 employees use outsourcing for their diverse project requirements.
- 8 out of 10 small businesses (80 percent) plan to outsource in 2021, according to a new report on Clutch, the leading B2B research firm.
- Large businesses are outsourcing their entire corporate functions so that they can focus on their core business operations.
Convinced enough? In case you’re not, we’re here to help! Talk to our experts to figure out whether outsourcing would be the right fit for your business. We boast a diversified pool of skilled, talented offshore developers with rich technical expertise and knowledge to envision, design, and develop the optimal solution for your project and use case.
Even if you’re thinking of hiring a local software development team in the U.S. that you can meet in person to discuss your specific project requirements every step of the way, then we’ve got you covered. For your convenience, we have a full-service software development center in the U.S. where you can drop by any time, talk to our experts and get an answer to all your queries.
Some of the benefits you can reap by hiring our dedicated software development team include:
- Versatility and customization
- No fixed timeline
- Complete transparency
- Greater flexibility
- Easy to track progress
- Dynamic scope of work
- No hidden costs
For more insights, visit www.debutinfotech.com or call us at 1–703–537–5009
Originally published at https://www.linkedin.com.