Pivoting Business Models in a Pandemic
There is no “going back” to normal after COVID-19. The world has changed so many aspects of our daily lives, and we’re seeing many businesses pivot to adapt to the “new normal” — some creatively, and others needing a little guidance to make the move.
With many companies shifting their business model online and moving employees to remote-only work situations, it’s become clear that many of them have neglected their IT infrastructure for years and have accrued a lot of technical debt.
It’s also become more evident to these businesses that they need data-driven software solutions now more than ever in order to find clients and customers, improve efficiency, and save money.
Working remotely
Companies that have already implemented a distributed team model experienced a much smoother transition in quarantine. Not only do employees already have their home office setups in place, but their work-from-home routines are also pretty solid as well.
We don’t believe that this will end with the pandemic, however. With many offices not planning to return until at least the fall (some are even waiting until 2021), we’re going to see a lot more focus on productivity tools as well as an increase in security measures to keep sensitive communication and documents safe.
There are many benefits to having a remote team, including reduced overhead, and happier employees who get to work with a more flexible schedule that fits their actual lifestyles. Now that teams have had a chance to prove they can work well remotely, we don’t expect everyone to fully go back to their old office structures.
For those who rely on in-person meetings to get work done, video conferencing with tools like Zoom, Bluejeans, Microsoft Teams, and Google Meet has been key. We’ve written about our remote work tips in the past — on top of video meetings we also use project management and communication tools like Trello and Slack to keep everyone on the same page. Check out more of our tips here.
Moving business online
Those who previously thought they could only do business in person have managed to find ways to pivot to online business. The health industry in particular, where in-office visits are needed much of the time for physical exams, has moved to video-based telemedicine sessions for appointments that don’t require the patient to be seen in person. This has reduced the risk of exposure to COVID-19 for both doctor and patient.
With telehealth, it’s not just a matter of getting on a video call and conducting an appointment. The channel of communication must also comply with HIPAA regulations to keep patient information safe and secure. Providers need to have solid cybersecurity measures in place and use HIPAA-approved video communication tools, of which Zoom and Skype are not acceptable.
Many providers luckily took advantage of this technology prior to the pandemic, but those scrambling to get on board need to keep in mind a few things to protect patients’ personal health information (PHI). To start, they need to ensure that devices used to access PHI from home are secure, that third-party vendors are in compliance with HIPAA’s HITECH regulations, and find technology partners with industry expertise to take the lead.
Global supply chains
Quarantine has put a lot of stress on supply chains, with the increase in online ordering and home delivery as well as increased deliveries of essentials to places like hospitals. There have been shortages on product, delays in shipping, and other issues that may potentially be solved by moving manufacturing and production back home rather than relying on offshore facilities. Orders could get to customers faster, which also can reduce greenhouse gas emissions as packages don’t have to travel as far to get to their destination.
The pandemic has been a wake-up call. Larger companies especially knew they needed to enhance their security and infrastructure for some time, and now COVID-19 has accelerated that need and forced them to do something about it.
While the problem has moved to the forefront, it’s certainly not easy to deal with. Companies need subject matter experts to help consult at a strategic and architectural high-level, as well as a team that will implement solutions.
