The rise of contact-free economy: 3 must-consider digital strategies in a business continuity plan
Dealing with the challenges and aftermath caused by the COVID-19 pandemic has definitely been on the agenda for all organizations since the beginning of 2020. While no one can tell how long this crisis will last and how it is going to develop, the coronavirus pandemic continues to challenge both short and long-term revenue growth for organizations worldwide.
To maintain resilience during the disruption, organizations must act with urgency to come up with immediate responses, but at the same time, they have to rethink the business model in a world of physical distancing and bridge the gap between physical and online strategies. By sharing our experiences and insights, we hope to help you find ways to survive COVID-19 and thrive in the new normal from leadership and operational perspectives. Here are 3 must-consider strategies we advise every leader to include in their business continuity plan:
Redesign customer touchpoints with expansive digital capabilities
Improving the digital customer experience has long been ranked as one of the top strategic priorities by senior executives. Since social distancing has been put in practice, importance of digital adoptions and capabilities has been sent through the roof. Human behaviors evolve and the digital experience matters. Given face-to-face human contact is avoided in most of the time, organizations have to re-examine the way of interacting with customers and the quality of engagement journey they offer in the digital world. Organizations need to develop new operating models and increase the number of customer touchpoints to stay connected with customers at scale as a lack of in-person interactions can impair trustworthy relationships.
Check out how we foster virtual customer connections here
Acceleration in data technologies to connect the dots for true values
Companies must understand their customers' acute needs before addressing them. To determine how to reinvent customer experience for the best business outcomes, companies will need to accelerate the adoption of data technologies for quick customer insights, which can guide adjustments to the offerings with agility and precision. Through data correlation, organizations are empowered to understand data gathered as it applies to other data collected from different parts in the business. Big data strategy plays a defining role to correlate navigate companies through demand forecasting and meeting rapidly changing customer expectations, especially amid the fog of uncertainties.
Check out how we embed data analytics in decision making here
Automation is at the core of business transformation as digital economy progresses
The trend of automation and artificial intelligence (AI) was already here before COVID-19, but the crisis has definitely quickened the pace. Reducing manual efforts in repetitive and daunting tasks bring organizations a wide range of benefits, including boosted operational efficiency, shifted human efforts and a lot more. Automation has increasingly been at the center of every organization's digital business strategy - helping companies to secure operations and reduce vulnerability under unforeseen conditions like the coronavirus outbreak.
Check out how we ensure stability in times of turbulence through automation here
Lead the change in the rise of a contact-free economy
As this global crisis continues to unfold, we see organizations at all sizes have re-prioritized their business growth strategies to find ways through the turbulence. Having COVID-19 as the catalyst for the shift to digital, leaders need to reinvent their business strategies to adapt to the challenges and get ready for the new normal - starting from how they engage with customers virtually, robust data strategies and automation in business processes.
COVID-19 Response
We are committed to ensuring you are digitally strong enough for the new world after COVID-19. We see opportunities in challenges - let's lead the change together.
