Why many businesses will outsource their IT needs after COVID-19

As more and more businesses are cutting their IT budgets to manage the effects of the coronavirus, it begs the question, will remote IT support and other services be the cost-effective solution future companies opt for? Read more: Why many businesses will outsource their IT needs after COVID-19

Why many businesses will outsource their IT needs after COVID-19

As more and more businesses are cutting their IT budgets to manage the effects of the coronavirus, it begs the question, will remote IT support and other services be the cost-effective solution future companies opt for?

The COVID-19 pandemic has impacted every industry and the majority of companies are looking to cut costs in any way they can — and for many, they are doing so with their IT solutions. This may come as a surprise to some, because of how vital IT is for businesses in the digital age. However, in-house IT departments do come at a cost — so it may develop into a trend where remote service simply proves to be a more appealing alternative.

In this post, the experts at ITRM, a specialist provider of managed IT services in London, will discuss the increasing interest in outsourced IT solutions following COVID-19 budget cuts.

Cut Costs

As we mentioned above, many businesses are slashing their IT budgets (estimated to be one-third of companies) to make way for aspects of their company that are deemed to be more essential. And while lots of these companies will return to business as usual with their in-house IT departments, for others, the need for a more cost-effective will be crucial. Thanks to the advances in technology such as cloud computing, modern companies have benefited significantly from outsourcing IT solutions for quite some time now. Especially small businesses who simply lack the space or labour funds for an IT department.

The financial fallout of the coronavirus is yet to be seen and difficult to predict from company-to-company, but considering the importance of IT support during the digital age and knowing that high-quality remote services are available — outsourced IT solutions will undoubtedly be the go-to for many business owners.

Encourages Business Growth

During such a difficult period, it has many companies in a panic and doing everything possible to ensure that they survive. It’s also an eye-opener and hugely motivational for business growth because if anything like this should happen again, companies will strive to be in a position where they are more financially stable. We mentioned above that outsourcing IT solutions allow businesses to cut costs, and by having additional funds available, the potential for growth and innovation is enormous.

The nature of this growth will depend on your business as well as your industry, but having money available to reinvest in other crucial aspects such as marketing, manufacturing or even moving to a more advantageous location can all be fruitful for a variety of ways. In the modern business world, every sector is more competitive than ever before, so growth is essential to succeed.

Bespoke IT Solutions Evolve Your Company

One of the most significant benefits of outsourcing to a specialist managed IT company is that they are continually at the forefront of their industry and work with a vast range of businesses, all of which have varying IT needs. This means that their IT experience is not only broad, but they are required to use creative thinking and innovative IT solutions on a daily basis. With an in-house team, their day-to-day duties and responsibilities will revolve around your company, so the opportunity for more a unique approach tends to be lost.

Due to the remote nature of outsourced IT services, your managed IT specialist will also be a valuable resource when it comes to moving to the cloud. Cloud computing for business provides a range of benefits, such as increased security, storage as well as applications that enhance productivity.

Fewer People Around the Workplace

The last few months are unlike anything several generations (or any generation) has seen before, and from here on out it will undoubtedly make people warier about hygiene and fearful of a similar scenario in the future. With this in mind, it may encourage employers to seek out solutions that decrease the number of people around the office at one time. With lots of people already working from home, this may well be something that businesses look to implement on a more permanent basis. For a few days a week, for example.

Although there’s nothing to say that businesses will look to reduce their workforce to protect their employees from both everyday and severe illnesses, for some, this may be the catalyst for doing just that. Especially when you consider that such a large percentage of companies have slashed their IT budgets in the wake of COVID-19, so outsourcing might just be the logical solution for both their finances and peace of mind.

ITRM is a specialist provider of managed IT services in London. Their team of experts work with both small and large businesses and provide IT solutions to help their company increase productivity, efficiency and encourage growth.

Read more:
Why many businesses will outsource their IT needs after COVID-19

Source : Business Matters More   

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The importance of brand loyalty and how to inspire it

While many have referred to the death of the high street and retail in relation to Covid-19, it’s interesting to note that the global ecommerce market has bloomed in recent months. Read more: The importance of brand loyalty and how to inspire it

The importance of brand loyalty and how to inspire it

While many have referred to the death of the high street and retail in relation to Covid-19, it’s interesting to note that the global ecommerce market has bloomed in recent months.

This is particularly true in the U.S., where online retailers’ year-on-year revenue growth was up by 68% as of mid-April.

Overall, there has been a 129% year-on-year growth in U.S. and Canadian ecommerce orders as of April 21st, while online conversion rates also increased by an impressive 8.8% in February alone.

Of course, this has continued a long-term trend in the retail space, with 2019 seeing online spending increase by 14.9% in relation to the previous year’s figures. This has undoubtedly changed the way in which brands look to build consumer loyalty, but how is this process likely to evolve further in a post-Covid world?

The Importance of Brand Loyalty and its Constantly Changing Nature 

The Covid-19 pandemic has arguably challenged the concept of brand loyalty in a unique way, as customers have been forced to turn their backs on certain brick-and-mortar brands in order to seek out viable alternatives online.

Of course, this is not an issue for online or multichannel brands, but there’s no doubt that the recent outbreak has dramatically changed consumer behaviour and encouraged online retailers to revisit the importance of securing brand loyalty.

This should already be a significant focus for online retailers, thanks to the incredibly competitive nature of the ecommerce markets and especially niches such as fashion, consumer electronics and (increasingly) groceries.

However, companies will need to channel and refine their efforts even further in the near-term, as a growing number of business transition online post Covid-19 and global ecommerce players such as Amazon creating digital real estate for fashion designers.

How to Inspire Brand Loyalty in a Post-Covid 19 World 

We’ve spoken about consumer behaviour, and it’s important to note that this is driven by the underlying human condition.

This enables brands to take stock of the unprecedented changes and disruptions that customers are experiencing in the course of their everyday lives as a result of Covid-19, before reinventing the existing consumer journey and precise evocation of loyalty.

In the current climate, for example, brands may benefit by leveraging temporal discounting research to create urgent and real-time rewards, while also focusing on competitive pricing as a way of rewarding loyalty and respecting the customer’s tendency for loss aversion.

While competitive pricing is key, however, it’s important not to become obsessed with this metric when looking to inspire brand loyalty.

The reason for this is simple; as the ecommerce market makes it easier than ever for discerning shoppers to compare hundreds of prices in a few clicks, and developing a narrow focus on price points will simply create a race to the bottom where big players like Amazon inevitably win.

This is where loyalty programs come into play, as this prevents you from competing solely on price by introducing new and rewarding ways to differentiate your brands.

There’s tremendous scope for innovation here, whether you want to create an enhanced and emotive customer journey around your products or introduce rewards for a wider array of consumer actions (such as referrals or recommendations).

These points of difference will prove crucial in a post-Covid world, as thousands of brands will be discounting prices in the immediate aftermath of the pandemic. Make no mistake; slashing prices is not enough to build brand loyalty in such a climate, and you’ll need to delve deeper into the human psyche to achieve this objective going forward.

Read more:
The importance of brand loyalty and how to inspire it

Source : Business Matters More   

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