How have the last few months been for you? It’s a mixed picture, with winners and losers across the board.
The WINNERS have been;
Those with products and services in high demand during lockdown
Those who’ve shown remarkable flexibility and resilience
Those with cloud technology in place and digital transformation projects underway
The LOSERS have been;
Businesses like restaurants and clubs who’ve been locked out of the emergency economy by the shutdown
Those who were badly prepared and struggled with underdeveloped technology networks.
At InCloud Solutions we saw those with strong systems – already in place – maintain a high level of service, while some even picked up new business from competitors who were unable to fulfill commitments.
So what next for the new economy?
Discover how the winners are building on their success…
The current emerging or “new” economic environment offers both challenges and opportunities for companies prepared to work on their resilience and flexibility. It is clear that if under preparation caused problems THEN, transforming operations NOW, will be critical to growth in the years to come.
SAP and Oxford Economics teamed up at the start of the crisis to survey 2,000 executives in 19 countries in order to get an understanding of their priorities and challenges, along with their digital maturity in the new economy.
They also looked at the top performers with the strongest revenue growth and profits to identify best practices and pinpoint how winners were building on their success.
4 Key Findings for Future Success;
Customer Experience is the top priority
Employee Experience is critical to retaining top talent
Data supported decision making is more important than ever
Here’s an excerpt from the Oxford Economics report into the new economy, here…
“…advances in technology can meaningfully extend our human connections. New breakthroughs in fields like data analytics, automation, and artificial intelligence will become increasingly essential for small and midsize organizations that aim to develop both personalized and economically efficient relationships with customers and employees. In fact, two-thirds to three quarters of respondents believe that digital technologies have already meaningfully improved the experiences of their customers and employees, and top financial performers are even more likely to say so.”
Putting people at the centre of everything you do – improving your data collection and analytics capabilities and organising now for agility in the future are all key findings. Those who act on them now will be in a strong position to make the most of the “new” economy in the future.
We hope you enjoy the report and that it sets you on the road to thriving in the new economy!
About InCloud Solutions…
InCloud Solutions is an expert consultancy in business & finance software solutions. We are the UK’s leading provider of SAP Business ByDesign for mid-sized companies & an SAP Platinum partner as part of the United VARs network. We provide advice, implementation and training, as a trusted partner to over 55 businesses.
4 Key Ways to Win Business in the New Economy was last modified: July 21st, 2020 by Lucy Thorpe
Lucy is an experienced BBC journalist and writer now creating business content as part of an integrated approach to digital marketing. If you would like to be interviewed for this blog then please get in touch [email protected]