Due to COVID-19 pandemic and one of its kind in history, a worldwide lockdown of economic activities, The world economy is staring at a prolonged global recession, the first and obvious impact on global recession is job loss across industries.

The organization will need to reprioritize their business objectives and survival would be the first and foremost choice for companies of all sizes, For companies to survive, they will need to reduce the cost to retain existing consumers, Since consumers too are affected due to job losses, they too will prioritize if not cancel their procurement in the near term and they may expect to pay less for the same products and services than they used to pay Pre COVID-19 situation.

The IT professional in end-user organizations will need to once again need to Earn their role, position and need to earn their paychecks. Survival of the Fittest shall be more relevant than ever before in history for both companies and their employees.

To combat this situation and come out triumphant, IT leaders need to identify and grab every opportunity to optimize cost and facilitate improvement in revenue for their organization and present each qualified opportunities to management as a Project.

Opportunities must possess the following qualifying criteria:

1. It needs little or no budget from the organization.
2. The benefits of projects must be estimated, measured and published
3. It must directly contribute towards cost optimization and or improvement in revenue.

A typical Small and Medium size enterprises can adept to open source software to reduce per user per year licensing cost, One can imagine significant savings for a typical SME of staff strength of 100 employees.

To be continued...

Author: Rajneesh Sheth, Group IT Head | Software Delivery Head | CIO - Viiking Ventures Pvt. Ltd.

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