3 Ways to Improve Processes to Make Up for Lost Revenue Due to COVID-19

Perspectives
Jun 26, 2020
|
6 Min Read

Earnings in the first quarter of 2020 took an enormous hit as companies worked to adapt and respond to the coronavirus pandemic, whether or not companies were ever forced to shut down.

Across the board, companies have had to shrink their workforce, cut spending, delay or cancel big, transformative projects, and reduce their expected revenue for the year. Even Amazon saw its profits shrink due to COVID-related expenses.

As companies look to move forward, they need to find ways to make up for lost time and lost revenue. But, inefficient processes and slow responses to new workflows are only going to hold your organization back.

Companies are having to implement new workflows to ensure their employees stay safe and adhere to new local, state, and federal guidelines and regulations.

Social distancing guidelines may require workforces to stagger shifts and adjust workspaces to keep employees at least six feet away from one another. These guidelines may mean there are fewer people in the workplace who need to do the same amount of work they did pre-crisis.

Many companies have turned to low-code platforms to enable them to be more agile and flexible in order to quickly pivot and respond to any challenge or disruption. With the ability to integrate data from multiple sources, low-code platforms have helped companies rapidly address new and urgent challenges presented by COVID-19 and pre-COVID-19 challenges.

Here are three ways to use low-code technology to quickly automate new workflows in days, not weeks, to make up for lost time and prepare for any future disruption.

Manual Processes Won’t Cut It

The ability to quickly automate workflows will be critical for making up for lost time and meeting your company’s goals. Manual processes, like pen and paper, or traditional legacy systems will not cut it anymore.

Are you still tracking assets or projects using pen and paper? Or relying on email to communicate across your organizations? Are updates kept in large spreadsheets that are slow and difficult to access?

These time-consuming systems will only slow you down, especially if your workforce is smaller due to social distancing guidelines or furloughed workers. The time for automation to meet these new demands  is now.

Low-code platforms instead provide a high speed to value, allowing users to create applications that automate key processes, centralize data, and aggregate insights via dashboards in a matter of days instead of weeks or months.

Increase Visibility and Transparency

Pre-COVID-19, companies had been hindered by silos that prevented sharing useful information company wide. Now, especially as workforces are smaller and some remain remote, improving communication and increasing visibility, and transparency across your organization is critical to continue working towards your company’s goals.

Low-code platforms allow you to centralize critical data, as well as integrate with existing systems to eliminate silos and allow users access to the information they need, right when they need it.

Quickly Adapt and Evolve

Traditional legacy systems are often rigid, inefficient, and costly. These legacy systems don’t allow users to create the exact custom solution that they need to overcome their organization’s greatest challenges.

Low-code platforms instead are flexible and agile enough to build and continually improve your business’s unique processes. You can quickly develop custom solutions that develop value quickly.

Additionally, as regulations and requirements continue to change, workflows will need to continuously evolve. Low-code platforms are adaptable enough that they can be quickly updated to support and improve any new workflows as well as prepare for any future disruptions.

Learn more about how you can quickly automate new workflows to make up for lost time and lost revenue
CTA Arrow

Recomended Posts