COVID-19 is ‘The Turning Point’

COVID-19

In the last couple of months, the entire world has been collectively putting in efforts to overcome the turbulence of COVID-19 impact on lives, business sector, and the global economy. It has been an extremely painful episode for everyone to witness life and livelihoods getting dismantled at a mammoth rate. High volatility has become the ‘new normal’ in the business environment.

COVID-19

BUSINESS RESILIENCE –‘It is only about survival of the fittest’: In times of crisis or economic slowdown, not every business fares equal. The ones that are ‘resilient’ fare better than the rest. The business context is and will remain uncertain. But if your action is ‘now’, one can ride the waves of uncertainty rather than being a victim or getting overpowered by them. When the economic downturns are difficult to predict, building ‘Business Resilience’ is the key to keep moving and be ready when the sun comes-up back.

GET READY FOR ACTION

‘Waste no-time’ is the mantra; it’s now and now only

Let’s accept the fact that coronavirus pandemic has compelled us to get off the beaten paths and devise action plans to build a future-proof economy.

There is no denying that it has indirectly been acting as a catalyst of change – economic, societal, personal, and corporate. The scale of the change and the speed at which it’s happening is amazing and it re-tells that the ‘Future is Digital’ only! By acting early and being bold and decisive, businesses can accelerate their digital transformation and reach the next normal sooner.

IT IS ‘DIGITAL ADOPTION’ EVERYWHERE

As COVID-19 impacts every aspect of our work and life, we have seen two years worth of Digital Transformation in two months-Satya Nadella

It is ‘Digital Adoption’ Everywhere- Banking and Finance, Education, Hospitality, Healthcare, you name any industry – ‘Digital Adoption’ is the buzz word. Fintech comes at the forefront as it replaces traditional banking and finance operations with digital and contactless transactions. Virtual Cards, online portals, mobile applications, e-pay, transactions, CRMs, etc. have taken firm roots in the BFSI industry. EdTech comes into the limelight as schools/institutions shut down the physical doors and enable their students to board their new digital classrooms. Online food order platforms such as Zomato, Swiggy has became the coolest option to satiate taste-buds and ensure that the gateway to stomach is in safe hands.

Also Read: Covid-19 pandemic likely to cost $203 billion to insurers

Artificial intelligence finds firm roots in the healthcare sector as it enables capturing patient information and remove the administrative burden from doctors and nurses. E-commerce, e-tickets, e-payments, e-learning, and e-business have become lay-man words and no more a jargon. Entire systems have moved to the cloud to support agility. The rapid deployment of digital capabilities demolished a bunch of myths that have been holding the business back from digital transformation.

‘Digital transformation’ is the game-changer as it takes the front seat and steers businesses smoothly and rapidly to withstand the winds of change!

HOW NEOSOFT TECHNOLOGIES PLAYS A CRUCIAL ROLE IN DIGITAL TRANSFORMATION:

NeoSOFT

NeoSOFT Technologies is a next-generation global IT technology partner that provides software development and consulting services to Enterprises, SME’s, Agencies, and Startups. With 22+ years of business excellence, we have emerged as a one-stop solution provider across 22+ industries in 50+ countries and have over 1500+ clients worldwide.

NeoSOFT has helped some of the world’s best and the biggest companies build innovative digital products. We work with a multitude of platforms, languages, database systems, and advanced technologies to build flawless products. We are skilled in diverse technology platforms and frameworks which include – Front End, Back End, Android, iOS, Blockchain, IoT, Artificial Intelligence & Machine Learning, Data Science, Open Source, and Cloud.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.