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What have we Learnt through Navigating in an Economic Downturn & Pandemic?

By Jessica Hall

Between suffering from uncertainty to naturally flourishing, the ability to adapt out of dead market space will have made all the difference for your business in the past year. Whether you are in a country that is on track for normality or being hit by a new wave of infections – All businesses have needed to evolve.

 

For those of us operating in the tech industry, we have experienced several significant economic events – especially the .com crash of 2000 and the 2008 Global Financial Crisis. We know what happens during an economic slowdown while there are some unique factors at play in relation to COVID-19; here is what we have learned.

 

Innovation should not be put off

Undergoing a 3-year change progression in a mere month was and continues to be a reality for many businesses across the globe. On countless occasions funds have been pulled from investments, particularly those in technology; deemed as a costly non-essential to cut in order to keep the boat floating. However, innovation needs to be cultivated and fed, without businesses prioritising technology their future fitness will remain grim. Opmantek’s automated network management tools were built on the premise of empowering companies. These tools give users the flexibility to operate in diverse environments with speed and scale at a fraction of the cost so you can keep innovating.

 

Having healthy finances is necessary

In the IT industry, an error caused by a triggered event in your network could cost a wave of rippling expenses. During periods of economic uncertainty what you don’t know can hurt you. Utilising technology such as one of Opmantek’s opEvents will reduce the impact of network faults and failures using proactive event management. Adding tools such as these to your arsenal allows you to gleam intelligent insights to make educated data and cost-effective driven decisions.

 

Optimising your data is the way forward

Your market no matter which side of it you are on has changed, so your business needs to change with it. More data, more data, more data, let’s face it cultivating and finding quality data is a superpower. So how is it possible to see it all? How can it be automatically configured and how can you keep up with it when it changes? Most organizations cannot give accurate location data of their assets, Open-AudIT gives you this information in seconds. Reduce the degree of uncertainty and make data-driven decisions, simply by running tools such as Open-AudIT to develop meaningful reports and resources. Optimising your data is the way forward, to learn how you can audit everything on your network with Open-AudIT book a demo session with our experts here.

 

Continual agility across all facets of business will be imperative to navigate through the next phase of this economic climate. Those that are familiar with nimble project management within the software development world – use similar methods in your financials too –be very conscious that your ability to plan twelve months is now a lot lower than it used to be and you need to undertake agile planning and forecasting. This will be a time of continual change however by; continually pushing innovation and utilising tools that give you the best possible view of your data to drive decision-making process, the path forward will be a lot clearer to navigate.

 

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