Role of Software And Related Technology Companies Amidst The COVID-19 Crisis

May, 2020

The present situation due to COVID 19 has created significant pressure on software and related technology companies, as their products have witnessed a steep increase in demand. Also, global online traffic is witnessing an all-time high.

Most of the software and related technology companies are facing the challenge of creating a virtual ecosystem for their clients to facilitate remote working for their respective employees. Along with this, the IT companies are themselves facing internal productivity problems with their own staff working from home.

Gain industry trust and be effective

The software and related technology companies are expected to play an important role in handling issues related to public health and social wellbeing. Most of the governments are expecting them to come up with innovative and accurate insights to support and strengthen the overall market. The enterprises are looking for different applications and resilient systems to help recover their businesses from this crisis.

Strengthen the value chain

Most of the industries are dependent on technology to come out of this crisis. The software and related technology companies should create a strong roadmap by:

  • Implementing a customized service platform for SMBs to help boost local economies.
  • Responsible leadership to make sure the availability of a fully remote workforce to support clients and partners to steer through uncertain times and rapid change.
  • Create flexible digital collaboration tools to facilitate multiple industries that help in dealing with partners, suppliers, and customers remotely. 
  • Most enterprises will expect scale, resilience, and cost-effectiveness from digital platforms.

Industry driven platforms 

The COVID-19 outburst has forced education institutes, healthcare providers and essential businesses to conduct their business virtually. This has increased the demand for video conferencing platforms for communication and eCommerce platforms for selling essential supplies such as food and grains.

Some of the platforms include:

  • An AI-driven platform to track COVID-19 patients and provide easy access to healthcare providers to review and optimize emergency services.
  •  An AI-enabled platform to handle crisis management and mitigate risk using required requisites such as cloud and other tools.
  • An innovative platform that can address user challenges across multiple sections by infusing methods of working and social engagement into existing products.
  • A platform that can accelerate and scale to meet the growing demand. And further, build long-term relationships with customers by demonstrating responsible behavior toward information and people.
  • Collaborate with multiple stakeholders across the platform to create trust and review user policies to prevent the threat from hackers and avoid the spread of misinformation.

Support social welfare

Most of the platforms can help resolve challenges aroused by the crisis. They are expected to play a vital role in supporting their employees, local communities, and customers to create stability, normalcy, and lay a strong foundation to protect against the present and future crises.

The platforms already have widespread adoption with strong infrastructure capacity, making them ideal to share information quickly. In many countries, they have become an emotional lifeline for education and entertainment sectors by streaming classes and movies online.

Some platforms are adding geospatial layers into their mapping products that can help to locate fever clinics in the region. The data also helps the government to monitor and take fast action in affected areas. They further help the general population to know the availably of essential commodities such as food, medicine, and protective gear.

The road ahead

The widespread success gained by different software platforms and related technology companies will continue offering new options even after the pandemic subsides. The crisis has led to an increase in the integrity of digital and other platforms. The role they have played in supporting the community at large will help them build customer trust and strengthen relationships with advertisers, government, and other stakeholders in the long term.

- Pavan Mudholkar
Manager - Business Operations
Infoholic Research