It’s been almost five months since the massive business disruption took place due to the outbreak of Covid-19. Economists, analysts, strategists, and everyone else are of the opinion that this might be even more catastrophic than the Great Depression of the 1930s. Though we don’t know yet. Many global economies are staring at sliding into severe recession. The global supply chains are impacted. Many industries – especially hospitality, aviation, retail, entertainment – are more adversely affected than others.
How much more negative could it be?
While health and public safety were and continue to be the topmost priorities of both governments and business organisations, there is also a huge pressure on both to help normalise the economy, which is badly ailing. While businesses, by hook or crook, made arrangements to enable its workforce for remote working, a lot of loopholes and cracks emerged in the digital infrastructures, which either hampered or slowed down the delivery of services to the customers. That impacted customer experience. While the situation was unprecedented and therefore some concessions were natural, any sustained bitterness on customer service front indicated towards unpreparedness of technology infrastructure to enable businesses for delivering services in timely manner.
Fast forward today, when corporations – small, medium and large – are trying to limp back to normalcy post the global lockdown and are trying to bring in efficiencies both in terms of enabling workforces and delivering experience to customers, there is a need for resetting technology priorities. Boardroom of the future is anxious to know how IT organisations can bring the agility, flexibility and speed to businesses. There is a need for CIOs and IT leadership to think about getting rid of old tech debt and work on a frictionless innovation to create a momentum for sustainable growth. May be we are entering in an era where Cloud Infrastructure will become a default option for most businesses and they will look at “everything-as-a-service” option.
DynamicCIO.com, spoke to Guruprasad Gaonkar, APAC SaaS Leader, Office of Finance (ERP) and Digital Supply Chain, Oracle on a range of issues that are important for CIOs and their IT organisations to consider.
Listen to this 20-minute insightful interview and create a checklist for the future.