As the coronavirus spread around the world, businesses across various sectors encourage their staff to work remotely. The ongoing crisis had created an urgent need for people to find the digital alternative of tools that are part of their workflow. Some were in a far better position to transition into a remote working culture, due to their readiness to use online tools and cloud-based replacements of their offline system. Others were struggling with the transition process. But for everyone, technology adoption is something that has to be done.

The challenge of scaling resources

In addition to working remotely, the real challenge for businesses is the scale and speed with which the relevant technologies need to be adopted. Most businesses already had the infrastructure in place but the number of users that need to be provided access made the process extraordinary. To manage the increased traffic and volume, systems needed to be configured. The existing infrastructure also had to be scaled up through the use of cloud-based services to handle peaks while also ensuring uninterrupted access.

Businesses that heavily relied on traditional tools had to hastily come up with a plan or end up closing the doors and put staff on compulsory leave. Laptops and other hardware had to be purchased urgently with the IT team working round-the-clock to prepare and distribute them to everyone.

Businesses Speed up Technology Adoption under COVID-19 threat

Regularly monitoring the ever-changing situation

With the initial set-up process completed, businesses need to stay alert of any challenges that arise down the line. Although the cost associated with the transition is huge, businesses and their staff can access systems through VPNs and continue to provide support to their customers. Moreover, as the whole workforce gets accustomed to the remote-working culture, teams are learning to work efficiently even in this new way of working. However, companies need to continuously review their infrastructure set up to minimize the chances of failure.

An increase in online threats

Across all the sectors, given the current situation, there has been an increase in cyber threats. Unfortunately, the ongoing crisis has provided another opportunity for scammers to steal data and gain unauthorized access to systems. Fraudsters are also using coronavirus-themed phishing attacks to lure targets to fake websites. Hence, businesses need to ensure that their staff are aware of the increased risks and follow best practices to avoid falling prey to the attackers. Put simply, they need to be flexible for technology adoption while ensuring maximum security and compliance.

Adopting cloud for digital transformation

As the pandemic forces businesses to enable their workforce to work from home, consequently, there has been an acceleration in adopting digital solutions across multiple industries. The adoption of the technological solution has been an uptrend for years, but the current situation made it much faster. Many online service providers have seen significant growth in their userbase, be it teleconferencing software or team collaboration tools. Altogether, this crisis might be just the right catalyst for businesses to quickly shift from physical to digital services.

HostBooks has been at the forefront to enable small businesses and accounting professionals to adopt cloud-based accounting and compliance solutions that help them save time and cost significantly. The automated solutions run in the cloud, allowing users to stay up-to-date on their business performance from anywhere at anytime.

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Qualification: CA in Job / Business
Company: Hostbooks Limited
Location: GURGAON, Haryana, IN
Member Since: 28 Mar 2020 | Total Posts: 8
Chief Development Officer (CDO) at HostBooks Limited with an experience of 18 years spread across Finance & Accounts, Banking, IT & Development, Investment Banking, Sales & Co-founding Startups. Having worked at senior position in OFB, DG Mezzanine Fund, DLF, E&Y & Maruti-Suzuki, View Full Profile

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