How Businesses Continue to be Impacted by COVID-19

Businesses are facing a lot of uncertainty because of the coronavirus pandemic. As COVID-19 continues to spread, the only thing that seems certain is that it will continue to impact businesses, particularly the way they operate and use technology.

Increased reliance on communications technology

The need for remote interactions and stronger communications technology will inevitably continue to increase. Businesses are expected to immediately adopt things like 5G technology (where available) to enhance communication speeds and performance.

Meanwhile, specific industries like healthcare will adopt technologies that optimize current processes. This includes using telehealth platforms that let healthcare providers diagnose and issue prescriptions remotely. To do that, they need systems that will efficiently facilitate consultations.

Many companies have already shifted to remote work setups. Business leaders now and in the foreseeable future will use more platforms that efficiently facilitate collaboration with colleagues, business partners, and customers. Tools that will let them achieve this include teleconferencing solutions like Zoom, Microsoft Teams, and others.

Digital ways to network

Now that many businesses of all sizes have embraced at least a hybrid approach to remote work, it follows that events, meetings, and a variety of gatherings worldwide such as tech conferences have been cancelled. This is in an effort to curb the fast spread of the coronavirus.

Certain organizations will forgo in-person networking events and business meetings altogether and will explore online avenues to maintain business opportunities. Again, this could mean turning to telecommunications tech that offers reliable connectivity and fast speeds.

A boost in cashless transactions

Paying in cash has long been trending toward becoming a thing of the past in-part due to recommendations of leading healthcare authorities. This is to help limit any spread of the virus that may be spread through contact with cash. More than ever, businesses are exploring ways to implement measures that restrict cash payments, if not eliminate them altogether.

In other words, contactless payments will now accelerate to becoming the norm in many countries around the world. This certainly applies to small businesses, too. Because of the pandemic, businesses across industries are expected to quickly adopt mobile payments and other forms of electronic payments.

Growth in eCommerce

As the general public acclimates to social distancing and mask-wearing, brick-and-mortar stores that are re-opening are seeing less and less foot traffic. Businesses that have adapted to new ways of product and service delivery find themselves increasingly maximizing online purchase options for their customers.

The logistics involved in delivering goods and services can prove overwhelming for many businesses. For instance, they may have to adjust order fulfillment models to align with shifting demands. That could mean increasing the workforce in charge of eCommerce operations. Therefore, those that are able to boost their online shopping operations must take steps to enhance their online selling capabilities to meet unpredictable surges in demand.

In a time of crisis, businesses must explore the many ways technology can help sustain operations; whether it be in terms of maintaining communications or delivering goods and services, all while gearing up for a drastically changed future.

Call our experts today and let us know how we can help you in these tough times.

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