COVID-19 giving way to Enterprise Tech

Dr Debjani Banerjee 

The World health Organization declared COVID-19 as Pandemic by March 11, 2020 and its impact could be felt by 7.8 billion people living in this planet, with no one in a position to help themselves. India as a nation adopt lockdown since 21st March 2020, to combat spread of the disease and create social distancing. This evolving risk which no one is a position to predict what and when it will be contained or anything about its long term impact. The stress of which would be placed unequally among individual and the society as well as the government. This structural risk which is effecting every strata of the economy. India’s internal buffer state that as such the economy was slipping towards poor growth, and the pre-existing slow down, would bleed more with this COVID-19. To put India in perspective, the overall global economic health is itself expected to be hit—especially in countries that depend on exports, tourism and other services sectors, some worse than others.

The nation adopted a policy of protecting human life over economy and a lockdown was initiated from 21st March 2020. But every firm comprising this economy from server to Software- everything was on sale. All were offering huge discount to attract more. Let there be less profit but let the ball roll. From behemoth IBM to start up like Zoho all were on with offers. Banks tried to remain customer friendly thus offering easy loans. Concepts like buy-now and pay later or free three months schemes all were up. The companies trying to extend help customers cope the crisis- were actually much more than what meets the eye.

Social Distancing has made people stay connected through technology.

-Work from Home

-Study on line

-Meeting and strategies through Zoom

Enterprise tech thus aims to enter every niche and corner. The IT & business services market is expected to grow at a rate of 6.5% to reach $14 billion by end of 2020( ET,6th May). What looks gloomy all around brings some opportunity for this sector. The pandemic of COVID-19 did hit this industry too but the adoption of technology has kept some doors of hope open for this sector. Although New contract renewals seems to effect this industry as the entire globe is badly in the grip of this disease, but this industry would observe surge in revenue through consulting services, modern collaborative applications, managed secure services, network management services and hosting services. This current year 2020 has observed a diverted focus of IT industry in addressing the challenges of remote connectivity and collaboration, creating connect with their ecosystem of customers, suppliers and partners, while ensuring business connectivity ,building organizational resilense and being more adoptable.

All these would create a wider scope for business analysists to understand customer psyche and create connect for the market to grow.

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