Emerging Opportunities for the SAP Industry Amidst the COVID19 Crisis

It may be difficult to imagine that there could be opportunities during the COVID19 crisis. We are already experiencing the disruptive effects of this pandemic on the economy. Globally, businesses are being asked to pause operations to prevent the spread of the disease. It leaves many employees out of work and uncertain of their circumstances for the coming weeks and months. 

While steps are being taken to address the threat of economic fallout, many are fearful of the uncertainties we are all facing. Nevertheless, we can either choose to remain afraid or we can look into the possibilities of emerging opportunities, especially for the SAP industry. 

This doesn’t mean being in denial of the reality that’s happening at the moment. Instead, it’s looking into the disruption and chaos, assessing the situation, and facing the problems head-on. This may just be the way that we can fully take advantage of this crisis and see the biggest opportunity that we will have in our careers. 

Facing the Problems Head-On

For any business today, losses are the reality. Projects are being suspended, deferred, derailed, or scrapped altogether. It’s not only a loss in revenue but losing the best people to layoffs and cuts. When we come through all this, businesses will find themselves back to square one. 

How to rebuild the business is something that is on the minds of entrepreneurs. But until we know that this crisis has come to an end, we need to continually trudge forward day by day. There is still work to be done to keep the boat afloat. 

Companies do their best to continue operations by allowing employees to work remotely in their homes. But this in itself poses a problem when it comes to productivity. Not all employees have home offices or have the space that they can transform into their workplace. With everyone being advised to stay at home, this means that the whole family is in one space, and employees are still expected to be as productive as they were at the office. 

For employees who have children, the challenges come when they have to juggle their roles in the company and their roles in their families. It is not going to be an easy task, and it is one of the problems that many are facing at the moment. How can companies help their employees to still be efficient and effective team members amidst the COVID19 pandemic? This is where opportunities come in. 

Opportunities to Take Action

At this time of extreme uncertainty, there are so many things to do and accomplish. We can start by assessing the specific problems that our businesses are experiencing. Being specific about what issues are in front of us will allow us to narrow down the solutions that we can implement. It will also give us a chance to come up with remedies that we can apply to the problems at hand. Here are three actionable steps we can look into. 

Fixing Immediate Issues 

Each business is going to face different challenges and you have to be able to look it in the eye and take immediate action. It is crucial now more than ever to tackle them directly and get them done. Some of the challenges you may be facing now are setting up a remote workforce, not being able to be as mobile as before, and customers having little to no opportunity to engage in your business. You need to come up with innovative solutions that will fix immediate issues. The point is to make the most of the time you have now to get things done because the following weeks and months are going to be uncertain. Don’t put things off. Assess what issues are there and fix them. 

• Building a Remote Workforce

One of the most obvious steps is to establish an option for employees to work remotely. This is not entirely new since many businesses are already operating with a remote workforce even before the pandemic crisis. There are plenty of tools that business owners can use to ensure effective communication among team members. Supervising the project is also possible through project management software to see to it that employees are still able to work on their tasks without any further delay. 

• Establishing Clear and Constant Communication

Implementing a policy for remote work is not at all that complicated. However, communication among each team member should be clear. There should still be expectations that need to be met in terms of when to be online and available for work and regular meetings through video calls, for example. This way, the deliverables, as well as their respective responsibilities, are clear and each team member will still be held accountable for its completion. 

• Tapping Short-Term Contractors

Another strategy that businesses can implement is bringing in short-term contractors and consultants who can fill in on what needs to get done. Companies can continue to operate as more specialists who can provide their expertise are available to work. This can be beneficial to both businesses that strive to move forward and experts who are looking for career opportunities during this time.

Saving the Projects at Hand

While we’re in the midst of this COVID19 problem, it may seem like there’s not much to work with because of the limitations that we find ourselves in. However, you have all the more reasons to push forward and keep doing what you’re doing. Ending a project prematurely can cost more than seeing it push through and completed. Make the most of the opportunities that you have while they’re here because we don’t know what’s going to be our circumstances in the next months. It’s highly likely that we’ll go into a recession after the outbreak and new projects may not come around. Take advantage of the ones you have at the moment. Do them and do them well. 

• Take advantage of Available Technologies

In order to keep the projects moving even during the coronavirus outbreak, there are two key tools that companies can use. The first one is software for team collaboration where team members can have virtual documents, share documents, and also freely discuss the specific details of how to accomplish tasks while working remotely. 

The second software should be able to support remote collaboration among team members. Ideally, this software should have cloud-based storage for files. It will make it easier for everyone involved in the project to access materials and documents as well as see the progress of the project. 

• Strengthening Relationships with Clients

Communicating with the clients is also vital in ensuring that the projects can stay afloat. We are all facing this global crisis. It is crucial that companies be transparent to clients about what the business is going through. Clients will be able to empathize with the companies but business leaders need to be communicative and transparent of their situation. 

Clients also need to know that businesses are doing what they can so that they can continue to provide products and services to them. If we cut off the customers from what’s happening behind the scenes, it’s possible that they may value and appreciate the services less. At this time, honesty and transparency are values that business leaders can lean on to. This will help ensure that the company maintains the relationship it has with its client base.

Building Your Strategy for Post-COVID19 Crisis

This crisis that we’re all experiencing is probably going to last for at least 12 weeks, some say it’s going to be longer. What’s clear at the moment is that your industry is crying out for is leadership. Take that position of leadership and strength. The people who are going to come out of this crisis stronger are those who have a plan. Find time to create a plan that you can count on after all this is over. 

• Strengthening Global Collaborations and Partnerships

In the post-COVID19 world, there’s going to be a lot of rebuilding that needs to be done. Even during this crisis, we are all trying to rebuild our lives and our livelihoods to get some sense of normalcy back in this world that has seemingly gone out of control. But what we have learned so far in this COVID19 crisis is that no one can make it alone, and we’re all a part of this global society.

We’re going to need more of these global collaborations for our businesses to flourish once more. In the past years, companies have shown greater understanding when it comes to the collective dependency that they have on a society that is thriving. Partnerships, therefore, must be at the heart of businesses because we all need and depend on each other to find solutions to current problems. 

Final Thoughts

The behavior of companies exhibits the economic system that we have today. There are many stories emerging about corporate energy and integrity as well as ingenuity during this time of crisis. However, there are also heart-breaking stories of businesses that had to let go of their loyal staff to remain afloat. 

There’s much to learn and reflect on during this problematic time. Nevertheless, the principles of good business still remain true. We have to strive to continue providing great products and services to our customers. But equally important now is that we provide strong, reliable leadership to our employees and our industry. It is not only taking care of our clients but also of the individuals who make it possible for the businesses to operate and thrive. 

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