The secret behind a successful bounce-back
21st May 2020
Given the coronavirus pandemic, here at CEE Sourcing Ltd. we understand how tough it has been for every business during lockdown.
Given the coronavirus pandemic, here at CEE Sourcing Ltd. we understand how tough it has been for every business during lockdown. We have been working on solutions tirelessly to bring alternatives and solutions to our clients, not only to keep their business running now but also to be ahead of the competition when all this blows over.
The Covid-19 effect on the economy is devastating; markets are down and unpredictable. With businesses losing their clients and markets, the most critical tasks besides the stabilisation of their current operation are to recognise and utilise the new opportunities. Covid-19 challenges the traditional business model and turns the focus on a more effective and flexible one. Here are some thoughts and recommendations which could help you to overcome the crisis and make your business more competitive than ever.
Restructuring, new business model
Many businesses had already started redesigning their operation because the cost cuts, headcount freeze measures and externals factors such as labour market shortage, growing salaries and not forget to mention the forthcoming IR35 reform. New operational models and flexible workforce strategy plans were analysed and this thinking then turned the focus to the subcontractors. Here is why.
- The current Covid-19 pandemic has highlighted the human factor of the operational risk. Manage the consistent flow of operations is always harder when a number of staff are absent but in the current pandemic it is a serious risk to business continuity. In a case when missing staff are those responsible for IT (operations, development or support), the risk increases further because most organisations simply couldn't work without IT.
- Physical distribution of Data and hardware are a well-known element of business continuity in emergency situations. Yes, it is well known but not common practice.
- However, there is an another aspect of geographical distance. The people. Distributing your people and expertise geographically is one of the best things that any organisation can do to reduce the impact of any unwanted event.
Using a nearshore partner on an ongoing basis to help develop and support critical business systems will ensure confidence in continuity and will help manage the company’s existence through an emergency.
How to overcome the crisis successfully?
There are 2 common practices used by companies who have overcome the crisis successfully:
- React in an agile mannner to the changing business environment. Invent in something new and unique, find niche market opportunities quickly.
- Set up a flexible and scalable IT infrastructure with high-quality operational support.
Quality or Agility?
In business strategy agility is the new norm, however there are some risks involved. An idea, no matter how good, will never be successful if implemented poorly. Customers will not tolerate poorly implemented, faulty solutions. Rapid development under time constraints can nonetheless lead to errors.
Quality therefore is the key to success. When developing a new software, functionality as well as performance are equally crucial. These parameters give the level of customer experience desired by the business leaders.
But which factor is more important, quality or time? This dilemma can be solved by a professional software-testing partner.
The testers are working with the developers and support them throughout the development. They provide immediate feedback on any bugs or performance isssues found. This cooperation significantly shortens the development time and improves the quality of software production. The time saved will result in a strenghtening of the bank market position via uninterrupted, stable operations during extra workloads such as those provided by the Covid-19 situation.
ProofIT Ltd. has carried out performance tests on a project for one of the largest Bulgarian commercial banks during lockdown. The company is managing the project successfully without any physical interaction. None of their staff needed to travel to Bulgaria, everything is done remotely online to the client's greatest satisfaction.
Flexible, professional and reliable IT operation
Unquestionably, ensuring the continuous and safe IT operation of a company is a serious task. Protecting data, providing uninterrupted operation of the back-office systems and managing employees' day-to-day technical issues quickly and efficiently are all crucial factors of productive and efficient working. IT is not just a tool anymore but part of the basic infrastructure. The role of IT operations and support has become a key priority.
4iG plc. develops and operates the IT system of one of the largest European low fare airlines. The client's had an uninterrupted service since 2004 – a 16-year successful contractual partnership. There was no data loss, no data breach that would have resulted in serious repurcussions, no cyberattack.
It is well known that airlines are suffering significant losses due to the Covid crisis. Scalable IT operations however have saved significant operational costs to this client. 4iG adjusted the service volume to the required level, thus helping to reduce the company's operating costs.
Managing IT with a professional outsourcing partner is an efficient solution for achieving a flexible and secure operation. A good, reliable partner can accommodate their client’s required changes, whether it is a down or upsizing. Companies need flexible and supportive partners. This model gives them a competitive advantage in technology and helps them through difficult times.
How to work with remote teams?
With today's technology, communication between remote-working colleagues, contractors and partners has never been so easy. There are no more barriers in remote working and virtual teams because everybody has learned and implemented this new working culture very swiftly.
The Covid crisis has proved that people can work efficiently away from their fixed workplace. Work can be organised and tasks can be performed efficiently without physical presence.
Companies which previously had aversions to home working are now admitting that they can continue to work seamlessly in virtual space. No matter where they are based they can work together, communicate and hold meetings successfully. Remote working has become a daily practice even for companies where this was not part of the norm, with virtual teams becoming part of everyday life.
We are here to help
We are pleased to offer the services of ProofIT Ltd. and 4iG plc. These companies are trusted and reliable partners of many companies across Europe. They can help you too to survive the crisis and go forward successfully.
If you are thinking about developing new software and want to get the most out of your investment, ProofIT Ltd. would be a perfect partner for you.
If you are considering replacing your existing IT supplier because you are not satisfied with their services and are looking for a more flexible partner or just want to reduce your operational costs, 4iG plc. could be a perfect match for you.
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I hope we can give you some new ideas for your business strategy. If you need more information or have any questions, please do not hesitate to contact us.