The Impact of COVID-19 on IT Sector – Ansi ByteCode
COVID-19 is one of the hottest topics these days as the virus, started from Wuhan, China, spreading in the entire world since birth due to its transmitting power and even getting worse day by day, damaging every life, business sector and non-technical companies.
The virus has already killed several people across the globe, the number has been reached up to 300,00 according to latest reports of IHME, and Our World in Data organization and some are still fighting against it. Due to the absence of an antibiotic, vaccine and strong immune system, the virus is hitting new peaks every day as an average number of daily deaths, estimated by IHME, are 2,205.
Unsurprisingly, these figures of COVID-19 have not only stuck human life but also devasted social, economic, political and financial areas of the entire world, disrupting the world’s leading economies and dreading the IT sector. And the world is seeing no end of the virus in the coming two years, predicted by WHO, showing that condition will be worse in the future.
As the virus has impacted every business, therefore it seems like an impossible way to resume work from workplace locations. After COVID-19 outbreak, every business is finding survival ways such as reconsidering of consumption models and the company’s portfolio. Among other business, the IT sector has suffered as a virus has already impacted $180-billion of the IT industry in India, and consequences will be critical in the coming years.
Thus, the collapsing situation will be higher in contrast to the 2008 global financial crisis, GFC, whose total loss was recorded to $8 trillion. The results are critical than GFC 2008 as during the time of the global financial crisis only demanded sector was affected. However, COVID-19 is damaging both the demand and supply chain industries, greatly disturbing the working of IT companies.
Effect of COVID-19 on IT Sector
Most of software and development industries are now promoting the concept of remote working, where every employee can work from his home located far from the company’s workplace. However, working from home doesn’t bring transparency, and all the employees can’t be on the same page, which is essential to accomplish the company’s goal and sustain productivity. Besides, IT industries are facing other challenges too;
Half of a company’s productivity depends on a small to medium-sized workers, and these workers can’t perform their duties from home, which shifts all the burden towards top-level employees. Thus, monitoring of work from the initial to the final phase, and solving all the challenges is extremely stressful in the pandemic period; this meltdown overall productivity and throughput of the company.
Choosing Alternative Facilities
Since every branch of IT has been affected by this outbreak, forcing international manufacturers to seek alternative options and facilities to survive. The closure of many supply chain companies is further boosting the prices of export products coming from China. Nevertheless, a company can choose alternative options to sustain their business, but working with someone new is a thought-provoking task.
Lack of Expertise to Use Digital Tools
Concept of the distributed network and cloud computing has touched new heights in this COVID-19 period. Most of the companies are establishing remote working concepts and promoting the use of digital tools. However, all employees don’t know how to use digital tools, which creates communication gaps between employees and high authorities.
Additionally, IT industries also require the following things in this outbreak period;
Uninterrupted Internet Access and Speed
IT is a vast field ranging from software, mobile and cellular industry, to the database sector. And now, since every company is shifting towards remote working strategy, it creates pressure on the sharing of Internet access and bandwidth. In the presence of interrupted Internet access, employees can’t collaborate, and it becomes hard to focus on projects with limited access. Moreover, following a remote working approach is not secure as employees are working from their home computers through local internet facility that may put the company’s data at risk.
Workplace and Business Environment
If you’re running a software company, you must be aware of the importance of workplace environment. In a workplace environment, it is easy to write codes, eliminate bugs and tests the entire working of the program. On the other side, it is quite difficult to complete software programs by sitting alone at home. Hence, collaboration is an utmost requirement to solve the query in this outbreak.
Ways to Maintain Productivity
A company must know how it can bring potential outcomes from disruptive situations. It is the right time to implement a business continuity plan for survival. In this way, a company can generate revenues from critical functions.
Filling all the Workload Gaps to Get Things Normal
By running all the critical functions of the company, an enterprise can fill holes created by epidemic disease. Facing every business risk and finding ways to cover their impact will help the business world to make things normal. This can be done through digital tools like skype, zoom, video conferencing apps, or cloud computing options.
Boosting Employee’s Work and Confidence
Covid-19 has created a stressing environment for every human being. And in such conditions, it is not easy to perform duties, but with constant appreciation and persistent efforts, a company can sustain confidence in their workers. It is recommended to follow the social distancing approach and encourage unhealthy employees to stay at home.
In this pandemic time of COVID-19, Ansi ByteCode LLP is acting as a responsible and yet reliable service provider. Being a steadfast software development company, we’re trying to cover the impact caused by COVID-19 in IT industry through providing constant support to our employees and customers.