Published On September 24, 2020

How digital transformation enables small businesses to deal with the pandemic?


The young, dynamic and visionary entrepreneur, Kapil is the proud owner of strong business acumen and holds a solid background in strategic management, finance, law and IT.

Apart from impacting the public health system, the ongoing pandemic situation has led to significant economic problems, forcing small and large business enterprises to rethink the way they operate. People across the country are limiting their movement, and with restrictions for public gathering to contain the spread of the coronavirus, the supply chains and cash flows have witnessed an extensive disruption. Many small businesses are getting closed permanently due to the irreparable damage caused by the pandemic outbreak.

During this crisis, we have seen businesses laying off their staff and allow employees to work remotely from home. Thanks to the latest technological innovations and the internet, organizations were able to transition smoothly into the remote work culture. Small businesses are also struggling with the burden of repayment of loans and interest payments. Some of the troubling issues that small and medium-sized enterprises are facing include liquidity crunch, decline in demand, lack of funding, and a general sense of uncertainty over when things would go back to normal.

In addition to the policies introduced by the government, businesses can adopt technology and tech-enabled services for the resources and opportunities they need to adapt to the new normal. Due to challenges posed by the novel coronavirus, companies started putting more focus on digital transformation and taking advantage of digital solutions to reach their customers. Even organizations like schools that require person-to-person interaction were quick to adopt remote or distance-learning.

Because of the always-on nature of the internet, businesses are prioritizing the needs of the customers and accordingly planning their digital transformation strategies. Such transformation drastically changes the way, companies operate and deliver value to their customers, enabling them to integrate digital technologies into the entire business cycle. The successful adoption of digital solutions not only includes technological transformation within an organization but also of suppliers and other stakeholders.

Technology Adoption for Small Businesses in a post-COVID World: Due to the strict social distancing guidelines and state-wide lockdowns, small businesses, especially with the physical establishment, are struggling to reach their customers and are compelled to move their business online. They need to integrate digital solutions in all business processes, including inventory management, accounting, customer support, sales and marketing, and more, allowing them to optimize their performance, enhance operational efficiency, and steer the business towards growth.

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