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The world during and after COVID-19

Enterprise Context

Enterprises across the world are attempting to see through the fog of uncertainty that’s around us today. And most understand that the future holds many challenges, both in the short term as well as in the long run. The restrictions imposed on the movement of people and goods not only curtail businesses’ access to valuable parts and raw materials, they also wipe out traditional sales and customer support channels. Businesses will have to reimagine business models in a new world that will have fewer physical and human interactions. They’ll need to adapt to be able to operate under such conditions – learn how to reach out to customers using new digital channels, figure out how to reimagine workforces and workplaces of the future, and reevaluate global supply chains. Businesses also have to manage various types of risk, while continuing to support the communities around them. Optimizing available resources for efficiency and business continuity, while investing in measures to build resilience, are crucial for survival.

RISK & CRISIS MANAGEMENT

A world caught off guard is now facing economic uncertainty, with financial risk management becoming a pressing concern. Companies across industries are drawing on credit lines to support working capital and stockpile cash. Financial services institutions are playing the role of systemic stabilizers, while trying to keep losses to a minimum. For them, it means a sharper focus on risk identification by detection of deterioration of creditworthiness and adjusting potential credit-risk mitigating actions for pre-delinquency, early delinquency, and nonperforming exposures, while also identifying recent spurts of digital fraud.

SUPPLY CHAIN RE-ORCHESTRATION

Most global firms have been caught off guard at how much exposure they face, owing to cost minimization strategies. From trend based demand forecasting shifting to driver based analysis, to keeping limited stock at hand, following just in time inventory management, to relying on a limited network of suppliers for parts and materials, the entire supply chain is being reevaluated. To successfully navigate this crisis, along with risk and crisis management strategies based on end to end visibility into their supply chain to understand anomalies and assessment of various risk scenarios, businesses need to execute dynamic and integrated business planning where the entire value chain is re-orchestrated.

BRAND EQUITY MANAGEMENT

The outbreak of COVID-19 has major implications for life, health and the world economy. It’s in times like these that organizations are expected to put purpose before profit. A number of organizations have stepped up. In addition to supporting their employees and customers, they are also working with communities, extending a helping hand, including valuable information, to those who need it the most. For brands, it’s almost as if a new baseline is forming. And soon some of these might become standard practice in CSR, as well as employee engagement. Also, in light of the environmental impact of a few weeks of shutdown, in the After-Corona world, a company’s relationship with nature and social causes will become more important than ever.

DIGITAL CUSTOMER ENGAGEMENT

Social distancing and lockdown measures have accelerated digital adoption. Proactive and personalized customer engagement is key to building strong customer relationships during these troubled times. It’s never been more important to know how customers feel and understand consumer sentiment. Customer experience monitoring over emails, phone calls and service chats and social media listening can provide a wealth of information. Armed with this information, organizations can explore personalized next best customer engagement measures as well as new digital offerings that customers need, while supporting employee and community safety.

DIGITAL COMMERCE

Shopping via e-commerce channels (direct as well as online marketplaces), which was already popular in many businesses, has now emerged as a new favorite across industries, as it effectively minimizes public exposure. More people are now shifting towards online shopping rather than in-store shopping, increasing the likelihood that spending may permanently shift between channels. Direct to consumer has never been more important. While e-commerce companies across the globe hire frantically, brick-and-mortar retailers that have invested in online channels are outpacing those who hadn’t. Digital marketing, marketing spend optimization, and product recommendation strategies can help businesses stay competitive.

DIGITAL SALES ENABLEMENT

The COVID-19 pandemic has changed how sellers engage with buyers. With the face to face meeting quickly becoming infeasible, digital selling is the way forward. As B2B sales cycles lengthen, slow down or disappear, sales teams will need various forms of digital support. AI-powered digital solutions can help at every step – right from sales forecasting and sales resource planning, to digital war rooms that identify opportunities, and recommend sales tactics to maximize the chances of winning every single deal.

INTELLIGENT OPERATIONS

Customer support channels and other traditionally people-intensive business operations such as claims processing or underwriting or collections, factory or shopfloor operations, audit and inspections, contract management etc. have been under severe strain, in recent weeks, due to offices and contact centers around the world shutting down. This has forced leaders to take note of the growing importance of automation. With reduced staffing and increased volumes of work, organizations across industries are looking for smart ways to boost operational efficiency. AI-powered, data-driven intelligent automation solutions can help businesses enable a digital workforce, resolve queries of customers who are desperately looking for support, and process high volumes of loan requests, claims applications etc.

DIGITAL WORKPLACE

Putting employee health above everything else, a majority of businesses have asked their employees to work from home. This has naturally caused disruption, impacted productivity and limited engagement with employees. At the same time, there are significant silver linings, which organizations could leverage – in Digital work, the Digital workforce and the Digital workplace of the future. There’s likely to be further transformation of work processes and systems, augmented by RPA, Analytics and AI/ ML, thereby changing how work will be done. As organizations embrace virtual working, they would have the ability to tap into a much bigger talent pool, allowing them more flexibility and agility in managing their workforce requirements. Also, with the increased adoption of technology and collaboration tools, the ‘Connected but not Co-located’ workplace of the future will look very different from what it is today.

Why partner with BRIDGEi2i?

As enterprises focus on life and business during and post COVID-19, digital seems set to emerge as the single biggest lever to reexamine priorities and reimagine business models. And AI will be at the heart of this digital transformation that companies will need to embrace, to adapt to the new normal, and stay competitive. BRIDGEi2i’s AI-powered accelerators have been successfully helping many enterprises embark on a faster journey to value realization through digital transformation, and enterprises today could derive tremendous value from these pre-built, tried and tested accelerators that lend themselves well to faster deployment. Coupled with applications on the cutting edge of AI/ML innovation, digital consulting expertise, scalable capabilities in data engineering, BI, data science and smart apps, there’s significant predictability of business outcomes and a true opportunity to maximize ROI through asset-based consulting.

INSIGHTS

Digital Engagement of Employees in the Post-Pandemic Era and New Data/ Analytics Data Opportunities

There is increasing adoption of Digital Engagement among employees and the opportunities for companies arising out of the new data being generated. Learn more

Digital Marketing in the Post COVID-19 World

CDP helps marketing teams re-jig customer engagement from a funnel-based approach to a more cyclic strategy to drive sales goals and achieve greater ROMI. Read on to know more.

Consumer Packaged Goods (CPG) in the COVID-19 Era

As pessimistic consumer sentiment weighs down the CPG industry post-COVID19, here’s a view on how it can tide over the disruption. Learn more

Consumer Technology & Durables (CTD) in the COVID-19 Era

As pessimistic consumer sentiment weighs down the CTD industry post-COVID19, here’s a view on how it can tide over the disruption. Learn more

How COVID-19 Has Impacted Consumer Goods Industry

As pessimistic consumer sentiment and a conservation behaviour weighs down the Consumer industry post-COVID19, here’s a view on how it can tide over the disruption. Learn more

Integrated Customer Engagement: The Need of the Hour!

As enterprises navigate the downturn in the post COVID world, Integrated Customer Engagement gains more momentum by the day. Explore more here!

Catalysing Digital CX using Data Science Capabilities in the Post COVID World

Data science combines with customer experience strategies to identify and solve real-time issues. Read more to know how data science can help!

The Changes & Challenges In Supply Chains Post COVID-19

Proper planning and systematic changes will go a long way in ensuring that supply chains are not affected by pandemics in the future. Read more.

Decoding Customer Experience post COVID-19 | Peak-End Rule & Return of the Chatbot

The emergence of COVID-19 has re-defined customer experience. Here’s a look at how the peak end rule will impact this game in the long run.

The Impact of COVID-19 on the Global Financial Services Industry & Focus on Risk Management

Financial Services Industries globally are reeling under the impact of COVID-19. Read on to know the implications and risk mitigation strategies to overcome this downturn.

Evolving Trends in Insurance in a post-COVID-19 world

With COVID-19 drastically impacting the economic and business activity globally, and how insurers plan to meet the challenges.

Computer Vision: The Rising Tech of the Post Corona World

With COVID-19 drastically impacting th economic and social footprint globally, enterprises are turning to Computer Vision for the future of tech.

When Remote Collaboration Became an Imperative: Lessons from COVID-19 Lockdown

With Covid-19 disrupting business disruptions, companies have moved to remote collaboration and trying to make it a successful model of work.

PODCASTS

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 1: COVID-19 & The New Normal at Workplaces

Listen to Dhritiman Chakrabarti, Advisor – People Analytics, BRIDGEi2i talk about the role of HR teams in mitigating the COVID-19 crisis and the redefinition of work in the new era.

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 2: How Data & Analytics Can Help in a Downturn

Doug Laney, author of the best-selling book ‘Infonomics’ talks about how enterprises can navigate their way through the COVID-19 crisis by leveraging data and analytics. Tune in for more.

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 3: COVID19 and Changing business landscape in Europe

Monideepa Bhattacharya (Moni),Business Development Director for Europe, BRIDGEi2i, thinks in the aftermath of COVID-19 increasing Automation and Digitalisation are the trends to watch out for.

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 4: COVID-19 | Implications and Impact on Insurance Industry

Insurance is among the most-affected industries of the novel Coronavirus. Tune in to listen to Anirban Chaudhury talk about the implications of COVID-19 for insurers and how using AI, we can leverage the best out of it.

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 5: COVID-19 and Changing Business Landscape in Australia

BRIDGEi2i’s podcast on Changing business landscape in Australia after COVID-19. Listen to Muthu Kumar, Senior VP, APAC & ME, talk about how it has laid the way for Digital Transformation.

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 6: The Impact of COVID-19 on Supply Chain Management

BRIDGEi2i presents a podcast on the changing SCM landscape in the aftermath of COVID-19. Listen to Arun Krishnamoorthy, VP, Supply Chain Practice, talk about how supply chains can cope with crises by leveraging data and analytics.

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 7: The Impact of COVID-19 on Financial Services & Risk Management

Tune in to listen to Ashwini Agrawal, Director – Financial Services vertical at BRIDGEi2i, discuss the aftermath of COVID-19 on banks and financial services. He talks about how omnichannel integration and AI-powered analytics will pave way for the new era of digital transformation.

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 8: COVID-19 and Changing Facets of Customer Engagement

Listen to Jitendra Jethanandani, Director, Enterprise Tech at BRIDGEi2i, discuss changing facets of customer engagement post COVID-19, and how by leveraging data-driven insights B2B enterprises can thrive in the changed scenario.

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 9: The Impact of COVID-19 on Consumer Technology & Durables

COVID-19 has led to a major upheaval in the consumer tech and durables industry besides altering consumer behavior as we knew it. Tune in to know how digital engagements and AI can help companies ride through the crisis.

PODCAST: COVID19 | Redefining Digital Enterprises – Episode 10: COVID-19 | Evolving Trends of Digital Transformation

Tune in to the podcast to understand the changing trends of digital transformation as we navigate the post-COVID 19 world.

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