The pandemic showed all the problem areas of business and accelerated the modernization of the economy. The fate of the global economy now depends on decisions and technologies.
The Covid-19 pandemic has become an extensive stress test for governments, organizations, and entrepreneurs around the world. Earlier, the digitization process was stuck under procrastination. Now it is impossible to do business as before. The sharp decline in incomes, supply chain breaks, difficulties with employment, confusion among entrepreneurs, and problems of inflexible, large companies suggest that the world is facing massive economic restructuring and significant market changes.
Digitization has ceased to be one of the variants of the company's development
and has become a means of salvation. The interaction between business and customers has changed dramatically and has moved into a virtual space. Companies had to restructure their working methods in just months when digitization had been delayed for years. Consumer behavior is now focused on safety, and even after the pandemic has passed, many buying habits will remain. The pandemic crisis has changed attitudes in all areas, and industries such as restaurants, banking, medicine, and retail will not return to their former shape.
Go Forward Not Looking Back
Customer needs have changed, and entrepreneurs are transforming their operating patterns to meet the new requirements. These are product safety, end-to-end transparency, and accountability of the company's performance, safety, and convenience of interaction, which have reached a new level. The crisis has forced entrepreneurs to implement new solutions rapidly. In particular, now companies have to develop and improve their web interfaces and applications for interaction with customers online, to transfer their employees to remote work, optimize unit-economy, test new technology systems, and open new business lines. In a situation where there is no time to reflect, companies apply new methods immediately because the cost of not implemented on-time service is closing the entire business.
Use Cloud Solutions and AI
Remote interaction between business and customers, employees and managers, business partners, and suppliers accelerates the adoption of cloud services and solutions. Clouds are the fastest way to deploy ERP systems, digitize document flow, develop, and customize the interface for e-commerce. Clouds are becoming an increasingly popular solution because of their low cost and high adaptability.
Cloud services are compliant not only to connect but also to combine. FCE offers solutions
for document management, ERP, data recording and storage systems, and digital ID and e-signatures that work perfectly together. Clouds also open access to the rapid implementation of AI into business processes
. The digitization of business data allows companies to quickly analyze and make predictions of trends to adjust their business and supply chains.
Upgrade Supply Chains
Supply chains lack automation and transparency to give consumers confidence in the product and brand. The digitization of supply chains is no longer delayed. An opportunity that will bring more security to current production and delivery systems is automatic traceability using Internet of Things sensors. FCE Platform is a unique IoT solution for companies of different industries. FCE IoT sensors
are embedded in the supply chains, collect required data on delivery, product status, mark the routes and completion of warehouses and stores, and provide full accountability in real-time without human input. In a pandemic, caring for workers and automating labor, ensuring product safety, and the completion of warehouses and stores are becoming significant criteria for any business.
Global accelerated digitization forces entrepreneurs, companies, and government agencies to make quick decisions. The thing that should never be neglected is data security. The private data of the company and its customers, electronic versions of documents, business negotiations, big data of production, and supplies should be protected to prevent the company from failing. FCE bases its principal business tools
on the blockchain architecture to prevent data compromising and uses hashing to block hacking and leaks.
Data security now remains a crucial point that cannot be lost when making anti-crisis decisions. The new reality is not about flying cars and spaceflight. Now it is about realizing the real value of the companies in the market and working on its increasing. The pandemic shows all the problems and issues as a magnifying glass. And entrepreneurs now must see them and bring the solutions.