The Effect of the COVID-19 Period on the Companies Left Behind in the Digital Transformation Journey
- Hülya Güneşli, CPA, CIA, CICP
- Manager
- E-mail to Hülya
The effects and destruction of the coronavirus, which was declared as a pandemic by the World Health Organization (WHO) in China and in more than 100 countries for a short time in late 2019, continue. Individuals, institutions and national economies are experiencing one of the most difficult periods in history. This period is called as COVID-19!
A period was closed out of blue, when no one was expecting, and a new period has just started. The transition was very painful, harsh and violent. We will be talking about the effects and uncertainties produced by this transition for a long time. Yes, the exam was difficult, it was covering the subjects unknown and caught everyone off guard. So why have some companies been able to run this process well, with relatively little damage, deciding to work remotely or by quickly implementing measures to prevent an epidemic, without compromising the health of their employees and disrupting their processes? What could be the secret of this success?
As the most important characteristics of companies that have achieved this success, is that they constantly invest in their employees, processes and systems with caring and importance. Companies that constantly invest in their institutions and who have seen this risk before and have the necessary preparation are struggling very successfully against the destructive effect of this period. So, what are the companies that make these investments have the opportunity to do better than the companies struggling to survive?
We know that no change is easy or sudden and no success comes suddenly. The most important power of the companies and the decision makers is to be able to access the right information at the right time and this is possible with the above-mentioned qualified employees, correctly designed processes and structured systems. Therefore, the success of these companies is related to reaching the right information when it is needed and making the right decisions using this information.
This is the lesson we need to learn from the crisis we are experiencing. It's time to go on the scales before it's too late. It should be the first task of the companies to take action plans to address the strengths or failures of the organization and to strengthen the successful aspects and to eliminate the failures. It is extremely critical to design and to apply the necessary infrastructures and targets related to ERP applications and process management, which are essential in the new era by reviewing the strategic plans. Institutions that are flexible, agile, and taking the right steps will leave this period being stronger, regardless of the maturity stage.
The most critical point in this crisis that has shaken many companies and economies not only in our country but also in the world, is to be able to get over the shock of it with the least damage. The new era means new opportunities and the institutions that quickly adapt to this era will have the key to success!