How COVID-19 changed business forever and pushed companies to embrace technology

COVID-19 – the time of technology development

The entire population of the planet is feeling the impact of the current situation. The pandemic has affected all of us and all economies. During this time, when many people are afraid to leave their homes or when governments advise them to take shelter in place during the coronavirus crisis, technology comes to help us. While new businesses are forming, though at a significantly slower rate than before, the acceleration of digital during the COVID-19 pandemic is shaping the next normal. And this is not surprising because business and IT are tightly interrelated. 

Above all, most organizations rely on digital technologies. Therefore, to stay competitive in the marketplace companies should integrate the emerging technologies with their business strategies. Business is constantly looking for technologies that can become a source of business innovation. During a pandemic, investment is focused on reliable technology. More and more employees of different companies are switching to remote work. As a result, it encourages the growth of the technologies that optimize remote work. 

In this way, companies have accelerated the digitization of their internal operations, as well as interactions with customers and supply chains. COVID-19 has brought significant changes to the way companies do business in all sectors and regions. The demand for digital products for business is growing every day. In other words, almost all companies have started to introduce technological innovation into their businesses. Speaking of the future, many businesses have increased funding for digital initiatives. As a result, we can expect even more digital product adoption in business.

Is this a good time to start a business?

Challenging times are seen as good times to start a business. Did this surprise you? We can explain why. There are two reasons for this: Firstly, new customer needs arising from positive or negative changes that we face. Above all, customer needs are at the core of any business; Secondly, less competition for resources. 

Digitizing your startup or existing business is the key to success and it’s the surest way to minimize future business disruptions. For example, many large companies have started the process of automating routine day-to-day tasks wherever possible.

What does Esfirs offer?

The COVID-19 crisis is a tipping point for digital technology. Above all, companies can adapt their strategies to reality when they see emerging technology trends that are closely related. We understand how critical it is to work together with our clients to develop more concrete long-term plans and strategies to cope with an uncertain future. How well this all will work, of course, depends on all of us. 

From reviewing strategies to allocating resources- we are deploying digital strategies and approaches at warp speed. So, anticipate the needs of society and propose solutions to the problems ahead, taking into account the circumstances in which we all live and work today, together with Esfirs.

Our goal: To help businesses and communities around the world work  safely, and respond efficiently on the heels of the COVID-19 pandemic.

What impact does COVID-19 have on your business? Can you still continue to work on your idea? We will be your reliable partner who will help you keep up with the times no matter what.

Author avatar
Alona Shestopalova

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