With COVID-19, fast pivots are the norm
The coronavirus pandemic forced many businesses into an unanticipated pivot to remote work and telecommuting. Companies of all sizes now face massive pressures to be more adaptable, flexible, and innovative.
Meanwhile, pinched by an economy thrown into massive recession, businesses have been forced to seek new markets or rapidly downsize. The rules of the game seem to have shifted, and already winners and losers are emerging.
Adaptability as the advantage
A large portion of thriving companies are the ones with business resilience and adaptability at their core, and what we’re referring to is not just a matter of company values.
It hardly needs to be said that high tech companies with remote workers and distributed teams have had a distinct advantage. In fact, for those with digital products and global teams, it can seem like not a lot has changed.
However, many companies that don’t conform to the classic high-tech concept have also thrived, and not necessarily because their markets are more insulated from the negative impacts, uncertainties, or rapid changes of the moment.
So, what really differentiates these thriving companies? We’ve heard before that they’re companies with scalability, adaptability, and resilience built right into their DNA. But what does that actually mean? Are these just buzzwords for companies without a lot of overhead? Do these companies have some form of unique business culture? Not necessarily.
Flexible IT infrastructure is key
At the infrastructure level, businesses that house their data on the cloud have a distinct, structural advantage. Cloud-based data is accessible anytime, anywhere, for anyone with appropriate permissions and reliable internet access.
Accessibility of data is key to the types of rapid transformations demanded by our current moment in history. As recent research by McKinsey and Company has pointed out, the recovery will be digital, and moving to the cloud is a necessary first step.
Companies that store their data on the cloud can, by nature, collaborate across borders, tap new markets, and pivot in response to sudden change. At the drop of a hat, company owners and managers can onboard new team members, assign existing workers to remote status, and enable sharing and collaboration on projects of all sizes.
This kind of flexibility has little equivalence in the traditional, location-bound methods of data storage. Growing a company quickly or changing locations would often involve expensive purchases, intensive hours of IT labor, and a constant risk of losing access to data, equipment, or connectivity.
As we all know, COVID-19 is here to stay, at least for the foreseeable future. Public health experts expect the risk levels in our communities will fluctuate as our battle with the virus ebbs and flows.
Companies that can easily respond to changes in risk level and lockdown status will have a distinct market advantage over those that can’t. One of the most important keys to this responsiveness is a flexible IT infrastructure.
Store Data on the Cloud for Better Business Resilience
In a nutshell, the advantage of resilient companies is often the cloud. Whether they built their IT infrastructure in the cloud or migrated to the cloud along the way, the unique flexibility of cloud computing gives them the ability to quickly change in response to market conditions.
In times when unpredictability and volatility rule the day, the cloud provides one very specific way that companies can achieve a competitive advantage, and position themselves for massive growth in the future.
If you understand the benefits of cloud computing and are ready to move your company forward, get in touch. We have lots of experience setting up cloud infrastructure and migrating businesses to the cloud. We’re happy to give you a hand.