What Measures Should Businesses Take to Survive during COVID-19

Digital transformation has always been a priority for almost all businesses and today with the rather unprecedented lockdown, it has become a necessity. Digital transformation is nothing but the use of technology to create different ways of doing business that help to drive growth and deliver value to the customer. It provides new opportunities and the capability to meet the rising demands of the customer and remain competitive. By investing in digital technologies and data conversion service, businesses can reap the best results.

With the outbreak of the corona virus, businesses are taking measures to emerge stronger from the pandemic. With the continuous peak in the spread of the virus, most organizations are now re-evaluating their work scenarios and strengthening their ability to survive in these difficult times. According to an article in Your Story, here are four roles or processes that businesses could consider to equip themselves well.

• Building trust with the buying and selling process: Using a data-driven and highly process-oriented technique can help businesses grow and gain huge scale. This helps businesses to employ more workers. They can implement a sales plan with custom-built applications and salesforce. This makes it easy to track the number of sales calls, make logical recommendations to sales officials, and send reminders for follow-ups. It allows the sales force to develop input or output plans for each sales person and link to their performance chart.

• Improving customer experience: Automation of calls and chats for customer service plays a huge role in today’s work scenario. This will help in improving sales, as most customer interactions are guided using this process. It is important to offer empathetic response with a strong solution-driven mindset. Automation ensures better customer service. Businesses can create a team of developers to automate calls, so that it becomes easier to respond to calls for cancellation, rescheduling, or for request for refund.

• Nurture your team: The function of the HR team is to recruit people. But in this present situation it has changed to management of people. They can no longer depend on the older modes of operation and appraisal functions. The nature of the HR team and interaction between human beings is undergoing a huge change. So, the best approach is to transform and nurture the team by careful measures and a personalized approach. This helps to bring a sense of job satisfaction among employees even under remote work conditions. To motivate employees, companies can conduct short quizzes and puzzles virtually. Also, there are interesting apps available now wherein a kudos/shout-out can be shared to appreciate the contribution of employees.

• The shift from paper to processing: Businesses have several internal functions like document processing, finance processing, vendor management etc. All of these internal functions can be managed well with a mix of Natural Language Processing and Robotic Process Automation. The roles of individuals change as the company reduces the team size and the remaining workforce will work with technology to automate all the business processes and jobs.

The following are some other tips that businesses could consider:

•Take measures to develop a cyber-savvy culture and create awareness among the employees.

•Take effective measures and monitor for commitments like government programs and other issues. Set up a resilient and proactive risk management strategy with risk and controls that fit the new normal.

• Utilize strategic positioning to find out which capabilities you require to get the greatest value and how companies can be repositioned.

• Concentrate on investing in resources that can ensure improved mental health and emotional wellbeing of your team.

• Adopt a multi-pronged approach to improve revenue. Focus on products and services, customer segments, distribution channels, new pricing strategies etc.

While we don’t yet know the full implications of this pandemic, businesses could consider the above-mentioned points. Another thing businesses need to do is invest in a reliable data conversion service that can provide apt support in their digital transformation journey, enabling them to provide a better customer experience.