#Covid19: How Going Digital is Seizing Opportunity in Crisis

Updated: Mar 1



Its official.


2020 is off to the weirdest start I have ever seen.


A coronavirus spreading around the world and infecting more each day, wildfires ravaging the Australian outback, earthquakes in Turkey and the Caribbean, the worst locust swarm East Africa has experienced in decades, and in Malaysia, political earthquake of 'Game of Thrones' proportions that only befits the grandest of four dimensional chess masters...


Even my favorite mamak uncle seems to be on-edge.


Companies know they must be agile and flexible to meet any challenge, be it internal or external. The situation before us is an external challenge, and of a magnitude that is unprecedented. Where do we even begin to prepare, let alone adapt and thrive in an era when the ground is constantly shifting below our feet?


1. ADAPT to the DISRUPTION




Start with your business infrastructure. CEOs, CFOs and IT Directors today must realize that technology has become the critical enabler for businesses and big data processing are what give businesses power to conquer the market. Shoddy tech setups, piecemeal infrastructure purchases and poor integrations are what contribute greatly to the failure of SME's and startups today.


2. Data is VITAL, not OPTIONAL





Get disruptive with enterprise-grade tech! Moving to the cloud gives access to enterprise-class technology, for everyone, allowing smaller businesses to act faster than big, established competitors. Automated workflows and highly scalable platforms mean small outfits can run with the big boys, and disrupt the market, while remaining lean and nimble.


3. SECURITY is on the CLOUD, not in SILOS!




Keep it between you and your Customer. Controlling access to your Cloud helps ensure the confidentiality of your data. Advanced Cloud ERP Software can identify who is requesting access to certain data sets and whether they are authorized to access it. They also create logs that allow IT Directors to monitor network activity for signs of suspicious or risky access, and if necessary adjust the rules to preserve confidentiality by blocking that traffic.


Confidentiality is further ensured with encryption. Data in storage, backup, or in transit over the Cloud can be encrypted so that it is worthless and does not reveal sensitive information to anyone who does not also possess the private key used to decrypt it.


4. NEVER Compromise on your Software Acquisition.



Your TCO (Total Cost of Ownership) Matters. If implementation cost is acting as a deterrent for you to not apply disruptive tech in your business, consider your TCO. Look at it from the perspective of the advantages it gives you, the time it saves you and expenditure it reduces, then the implementation cost would mean nothing to you. Furthermore, you will have to pay according to the features you want to add to your cloud, the space you need for data storage. It goes long way in reducing the cost and offering you greater returns on what you spend.


THE WAY FORWARD



The bottom line is not about splurging blindly or cutting corners on Digital Disruption. It’s about your business and the applications your business depends on to stay competitive in ever shifting landscapes.


Disruptive Tech like Oracle Netsuite are must-have technology for every business organization. It is a major step in ensuring your business is sustainable, disaster-proof, with technology automating key updates without human intervention, helping you drive your business into the next 10-20 years to come.


To go where no man has gone before.




FINTECH RAKYAT is a Digital Transformation Partner in Malaysia to migrate businesses to the next generation of the Digital Age. With automation, data analytics, and the latest Cloud and Financial Technology, we create a digital fortress that secures and simplifies your data to scale your business more effectively.


Schedule a discovery session with us to find out how our Solutions can transform your business. We chart a clear and sustainable path for our customers to Drive Digital Disruption in their business for the long term. Contact us at enquiry@fintechrakyat.com today!




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