Business Life after Covid-19
The objective of this Blog is to identify ways in which Industries would function post COVID with a thorough analysis.
To ensure readers have the right data to make the right decisions.
My findings and summary will update business thought process to ensure relevant and timely information to Stakeholders.
Business will continue as it is with certain extent of disruptions. Healthcare and Pharmaceutical Industries already seen progress and will boom in future.
- Impact on workforce, functions and policies
- Employee support
- Remote working
- Returning to the workplace
- Impact on health and benefits program strategy
The following questions analysed;
- In what way enterprise’s turnover different in the last two months?
- Main causes for enterprise’s turnover being outside its normal range in the last two Months
- Enterprise’s exporting of goods or services been affected by the coronavirus (COVID-19) outbreak in the last two Months
- Was enterprise’s importing of materials, goods or services affected by the coronavirus (COVID-19) outbreak in the last two Months?
- Was enterprise able to get the materials, goods or services it needed from within the US, UK and China in the last two Months?
- How did the prices of materials, goods or services bought by enterprise change in the last two Months, compared with normal price fluctuations?
- How did the prices of goods or services sold by enterprise change in the last two Months, compared with normal fluctuations?
- Was enterprise’s ability to access financial resources change in the last two Months?
- How confident that enterprise has the financial and supply chain management resources to continue operating throughout the coronavirus (COVID-19) outbreak?
There will be significant changes in buying behavior / uncertainty after Covid-19 especially in the following industries;
- Real Estate
- Travel and Tourism
- Oil and Gas
- Apparel and Footwear
- High tech
- Textiles and so on
Focus items from IT Services Companies perspective;
- Billing rate of IT Services
- Drastically improve the levels of productivity and office efficiency in the business
- Resource optimization
- Employees may have to work additional hours to meet the target / schedule
- Building relocation and drop in office space rent
- Less demand for Co-working Spaces, Paying Guests accommodation Corporate transportation and canteen services
- Major impact on Public transports, Private Cabs and Autos
- Huge reduction in Petrol and Diesel consumptions
- Housekeeping and Security services can lead to ramping down
- Ready to sacrifice Salary benefits cut and cost per hour
Focus items from home for State Governments perspective;
- Huge Automation will increase
- Servers and Systems will be hosted or migrated to Cloud / Hybrid
- Unable to attract Global IT Services investors
- Unlikely to meet tax revenue target
- Optimum utilization of existing infrastructure
- Sustainable development
- Low environmental impact, Law & order under control
- Drastic improvement in citizens health
- The US government for example may be encouraging the return of critical industries to the US, but the Canada/ Mexico trade pact leaves it likely that a significant amount would end up in Mexico
COVID-19 has brought with it many disruptions. The need of the hour is to think of business and lifestyle models that are easily adaptable.
Conclusion: SAP and SAP S/4 HANA Products will answer above questions based on the prediction and forecast analysis. SAP Business Consultants will suggest the right solution for each industry vertical.