The economic impact of COVID 19 has forced businesses worldwide to take a closer look into their spending. Many businesses were forced to take the route of temporary measures such as layoffs coupled with a reduction in pay and work hours. The real deal to ensure unperturbed business survival is adopting effective long-term strategies to run the business. Reports and learnings from the global financial crisis of 2008/2009 confirm that businesses that opted for technological investments have outperformed and emerged as winners compared to their competition.
As remote working becomes the new norm, (A research by Indian Wire* suggests that – 50% of the workforce in India might continue to work from home permanently post COVID) organizations particularly in the countries like India, continue to struggle with the see-saw to balance business outcomes and the business expenses. Are Indian organizations ready to adapt to the shift? And how to adapt while keeping the costs in check?
On the flip side, we feel that there cannot be a better time to re-think a complete restructuring of the business processes. A wide range of ready-to-deploy technology solutions from the front-runners of the IT sector can make remote working a cost-effective success and help businesses emerge stronger, more resilient, and future-ready post-COVID-19.
The experience-driven analysis below will help you to further understand the viability of options and move closer to the fulcrum of expenses vs productivity balance –
- Identify & define the cost-reduction options – In close coordination with the CFO and the CTO, analyse the IT cost analysis, the feasibility and the budget allocation to achieve the ideal remote working culture. Defined short-term and long- term goals on the application of technology will help to navigate smoothly.
- Factor in the flexibility built into IT – Most IT solutions are built to allow flexibility in the face of increased or decreased demands. As per McKinsey, IT costs can be reduced by up to 30% by taking a ‘bare minimum’ approach. A shift in the allocation of budget to the necessary IT applications and the lesser used applications help to realign the costs. While some of these measures can be applied almost immediately, others would require a re-look at the agreements.
- Invest in training & adoption of productivity tools – Assisting the workforce to efficiently work remotely is the need of the hour and a range of tools are available to adopt the new normal not only for now but for the future. Assessment, implementation and retention are the key enablers to leverage the power of digital tools designed to increase productivity while keeping the expenses in check. Collaboration tools, virtual desktop infrastructure, HRMS and intuitive intranet solutions are the popular picks for leading small and mid-level organizations.
A CIO’s Toolkit Includes –
- Cloud Computing – Cloud computing has been the future foundation of businesses for over a decade. While Embee alone has moved over 350+ organizations onto the Cloud in India, we witnessed a surge of Cloud adoption when the pandemic broke out. Microsoft too witnessed ‘two years’ worth of digital transformation over two months’. And that is solely because, the Cloud platform robustly enables the remote working environment businesses are adopting today. The platform ensures collaboration, maintains security and boosts productivity.IDC too confirms that 64% of organizations in India are expected to increase demand for cloud computing. So if you’re not on the Cloud, connect with Embee today to know how it can empower your organization.
- Cloud Managed Services – Remote working demands quick, error-free action to successfully transition to the new normal. Managed Cloud services help to sustain operations and meet the client requirements without compromising on the productivity, security and the expenses. An experienced team will bring to the table years of experience to seamlessly manage IT security, optimization of the platform and maximization of uptime.
- Intuitive Communication & Collaboration Tools – With remote working, basic team communication & collaboration becomes a major obstacle resulting in reduced productivity and delays in decision-making. In addition to the same, task management, resource allocation, performance measurement and visibility become areas of serious concern. That is when smart productivity tools come to the rescue, enabling organizations to function effortlessly and collaborate seamlessly.
- HRMS – Resource management becomes a breeze with a cloud-based HRMS solution. Enhanced visibility, time-saving processes and automation of repetitive tasks allow the HR teams to take insight-driven decisions at a faster pace. An HRMS solution helps to rule out the concerns related to the absence of physical proximity and empowers the teams to seamlessly work together remotely.
It is worth noting that American Express saved close to $15 million annually** with a remote work policy and managed to increase the overall business output by 43%.
Some 20 years ago the current conditions would have proven to be catastrophic. Remote working, business continuity and growth-oriented goals would have been unthinkable. However, the availability of advanced IT solutions today enable businesses to operate smoothly with minimal efforts.
Embee’s VirtuaPlace provides a wide-range of solutions to enable seamless and cost-effective digital transformation for businesses. With 500K+ active seats on Office 365 and the experience of 120k+ virtual machines deployed and managed – Embee is your partner that can help you transition effortlessly. Connect with a team of certified experts to accelerate growth, design a future-ready strategy, increase savings and amp up productivity. Bring out the best in your workforce cost effectively with VirtuaPlace.