Pivot your IT-BPM business into a more resilient model. Adapt to uncertainty brought by the pandemic through smart working and strategic growth - even in crisis.
Let’s face it — the pandemic has upended the way we do business. With half the globe hiding away at home, many companies are struggling to survive. Even the Information Technology and Business Process Management (IT-BPM) industry, what most consider as immune to the effects of quarantine, is facing a lot of challenges during this time. On the other hand, this industry is also primed to bounce back stronger than ever.
With digital transformation on fast-forward across all industries, the IT-BPM sector can take this as an opportunity and leverage its tech know-how. Through assessing the current landscape and creative thinking, your IT-BPM company can come up as a winner in the post-CoVID era. Here are a few tips to get into a state of managed chaos amid a sea of uncertainty.
Your assets aren’t just the equipment and software you have. Think about your workforce – What are their core competencies? How transferable are their skills?
“IT-BPM Companies are pressured to speed up the training of the current workforce to elevate their IT skills, and let robots help in the entry-level skills.”Source: Whitepaper on Optimizing Technology for a Globally Competitive IT-BPM Sector
Identifying and focusing on your workforce and improving their core strengths will help you evaluate your options and find alternatives with the best chances of success.
Look for industries where demand has grown. That’s where the opportunity is! Check how closely your competencies match the growing needs. Some industries to consider are entertainment, education technology, and healthcare.
Once you know what industry you can pursue, and what your brand position is, you’ll be able to expand your offerings in a logical manner. Adding products or services is a good way to widen your customer base, increase revenue, and maintain cashflow. In fact, 49% of startups in the country have added a new product or service in the first three months of the pandemic.
When resources are strained, efficiency is the name of the game. The way to get your efficiency up is to either reduce costs or boost productivity. See where you can trim down on expenses and then look for ways to increase output.
Get plugged into professional networks and communities.
IT and Business Process Association of the Philippines (IBPAP) can get you up to speed on the latest trends affecting the IT-BPM sector. Groups like the Globe Partner Network have programs that help System Integrators boost revenue, build brand image, and opportunities for networking. Also look into published success stories for that much-needed inspiration or template on how to make your next move.
If you want to learn how six companies have successfully responded to the pandemic’s challenges plus 10 ways to speed up your company’s digital adoption, download the whitepaper below on Optimizing Technology for a Globally Competitive IT-BPM Sector.
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