Navigating the Storm
How to Reduce Operational Costs and Continue to Innovate During Uncertain Times
Extraordinary times call for innovative ways to future-proof your business. Here’s how your business can make it through the current crisis and come out stronger than ever before.
Even in normal times, adjusting to major changes in the global economy can be a challenge.
In our current reality, where the only historical guideposts we have are a century old pandemic and a much more recent financial crisis that is not really comparable, making adjustments to keep your business afloat can seem impossible.
As with every major disruption to the status quo, though, there are also opportunities. The key is to embrace the unknown and place your business in the best position possible so you can come out the other side intact.
We’re taking a hard look at the new reality nearly every enterprise is facing and highlighting some of the many ways technology — and having the right partner to implement it — can help you navigate the storm. Specifically, we’ll be focusing on:
Adapting to the
New Economic Reality
Even the rosiest assessments of when things might return to normal acknowledge the economy will look very different than before the COVID-19 pandemic.
The massive job losses and reduced purchasing power alone will likely make any recovery a long and painful process.
But while the eventual outcome of the pandemic is hard to predict, there are still steps enterprises across industries can take now to survive this massive downturn and come out the other side. Steps like:
- Changing your business model to minimize negative impacts
- Keeping critical resources operating
- Reducing operating costs
- Freeing up budget for innovation
While the first three of these steps can be filed under making smart business decisions, the idea of freeing up budget for innovation during a crisis can seem counterintuitive.
But innovation is exactly what’s needed during unprecedented times like these, especially when your competitors are also working to adapt quickly.
Your goal shouldn’t be to just survive this current crisis, but to put your enterprise in a position to thrive once the crisis is over.
Tools For the New Economic Reality
There has already been a seismic shift in how the world conducts business, and now that the genie is out of the bottle, it’s unlikely the expansion of remote work is going to end once the pandemic passes.
Moving forward, the recipe for many enterprises is going to involve tools that increase flexibility — not just in how businesses provide products and services, but in how teams are able to work collaboratively.
Some of the tools already seeing increased use during this time of self-isolation include:
Video conferencing via providers such as Zoom, which has already seen its active users grow from 10 million to more than 200 million in record time.
Remote Virtual Desktops for teams to access applications, data, and development resources from their own homes while still adhering to governance and security protocols.
Hybrid and multi-cloud environments that allow data and applications to be deployed where they can make the most impact.
Reducing Operating Expenses While Continuing to Innovate
In times of uncertainty and major downturns like we’re all currently facing, retraction is understandably high on the agenda for most enterprises. The question is, how do you reduce your expenses while still keeping your innovation pipeline flowing?
One answer is to be smarter with how you use your resources. Specifically:
Maximize your efficiencies and right-size your environment to streamline your development process as much as possible.
Fraction your access to specialized talent so you can scale up or down with an expert team as needed.
Automate everything by developing and standardizing repeatable processes to accelerate your dev, test, and production systems.
Some of these steps will require painful cuts — and depending on your technical maturity, a learning curve. But by making better use of your resources, your enterprise can go a long way toward substantially reducing costs while also freeing up budget for your teams to be more creative.
The Role of Managed Services Providers
For many enterprises, partnering with a Managed Services Provider (MSP) can be a cost-effective way to find and implement technology solutions that reduce expenses while sparking innovation.
At a high level, MSP solutions can include products like Microsoft’s Office 365 and Google’s G Suite — tools that provide effective capabilities like cloud backup, automation of tasks, and collaboration.
Most enterprises, however, need more robust capabilities and solutions. While MSP partners come in all flavors—in general, the right partner should assist you with:
- Finding the right technology to fit your needs.
- Monitoring your investment so you can avoid sticker shock.
- Managing your cloud infrastructure to ensure uptime, governance, and security.
At Redapt, we offer a full array of MSP solutions to cover any and all of your needs. Our offerings include:
Customer success and support oversight, including reporting and operational metrics.
24x7 help desk access, complete with a knowledge database of issues and resolutions.
Monitoring systems and event detection.
Incident and event management, including investigation, correlation, diagnosis, and remediation.
Full technical support of OS, database, platform, and URL monitoring.
Security and governance oversight, from information security scanning and reporting to backup and disaster recovery services.
Our offerings help you get your environment up and running quickly and without downtime, reducing your IT costs and accelerating your ability to innovate faster than competitors.
You can learn more about our MSP and other cloud services
Download our free eBook: Thriving in the Cloud.Download Free eBook
When Managed Services Providers are Valuable
Any enterprise that wants to reduce costs while maintaining its innovation could benefit from partnering with a MSP.
Small to medium enterprises in particular can gain a lot from a MSP, especially if they lack the technical abilities or resources to:
Monitor and manage cloud operations 24x7.
Implement new technologies and cloud platforms.
Right size resources to promote innovations.
Create always running environments that can scale quickly and easy as needed.
For a full breakdown of Redapt’s MSP offerings and capabilities, check out our Managed Services page on our website.
To Sum Up...
In these challenging times, the enterprises that are able to adapt quickly will be in the best position to weather the storm.
While cutbacks in budget may be necessary, you can help your business survive and thrive by spending less of your budget keeping the lights on.
For many enterprises, partnering with a MSP can help your teams stay focused on innovation and building new products and services.
MSPs can also expand your capabilities for advanced tools like predictive analytics so you can identify efficiencies, discover new business models, and anticipate future disruptions or disasters.
If your enterprise needs help navigating the current crisis and the new economy, contact one of our experts today.
Risk management is all about planning for the expected unexpected.
A few months ago, the Wharton School of the University of Pennsylvania published the article Four Ways Leaders Can Gain Value from AI and Advanced Analytics.
Information, as they say, is power.
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