Although the software development market seems immune to the changing business environment, the truth is it’s not. The pandemic is likely to take a toll on everyone who moves too slowly. The companies that have got used to traditional team models and neglected the benefits of remote work are likely to suffer first. So what’s to be done?
We know that everyone has got tired of apocalyptic predictions. That’s why in today’s article we will focus on reliable data, trends, and solutions. Keep reading to learn more about:
- COVID-19 and IT: Overview of the changing business environment and economic outlook 2020
- 5 Pandemic software development trends: How to survive an economic crash with digital optimization of your existing business
- COVID-19 in Ukraine and how Binariks is adapting to changes
COVID-19 and IT. Overview of the Changing Business Environment and Economic Outlook in 2020
Since nobody knows when everything will get back to normal, most voiced predictions are vague. There are too many variables that influence the present state of recession in the IT industry or (for some companies) growth. Zoom Video Communications is so far one of the most famous examples of how specialized software flourishes in times of pandemic. Their strikingly great results have two key reasons behind them: 1.) Zoom has always been popular and super-easy to use. 2.) Zoom offers the product which allows adaptability in business and remote work.
(Source: Google Search )
As the tech market leaders keep their positions, less prepared parties seem to be losing. India is one of the cases. After the beginning of quarantine, the world’s IT services and call center outsourcing hub started to have serious troubles with working from home. Even though the new advanced technology allows a large portion of the population to work remotely, the local regulations and the lack of resources create serious obstacles. In such a situation, many companies that have previously outsourced to India may need to look for another destination. Thus, thanks to its proximity and more stable healthcare systems Eastern Europe may attract additional outsourcing offers.
Generally, the present state of recession in the IT industry is less visible than in offline industries. Most companies are already taking the steps to adapt to the new reality and organize their work remotely. Those that did that before are the luckiest ones, for an obvious reason.
5 Pandemic Software Development Trends: How to Survive an Economic Crash
The evolving trends relate to anyone engaged in software development or planning to take their services online. They also show businesses in what direction to move and what solutions are the most effective today.
Digital Optimization of Your Existing Business
Adaptability in business heavily depends on the readiness to take immediate action. Under the circumstances of social distancing, which is likely to last for at least several months, digitalization is a critical step. Whereas small retailers start to focus on their websites and online resources, larger market players invest in applications and more complex software development. These are external solutions, but you should also plan ways to optimize the work of your team. Make sure everyone has access to the necessary software and hardware. Explain to employees how to operate under quarantine conditions. And, finally, optimize everything that can be optimized. Moreover, market experts stress that to achieve the best results and gain the competitive advantage digital optimization must look more like digital transformation. This means creating new business models and delivering digitally-enabled services
(Source: Gartner )
Increased Attention to Cyber Security
As the number of employees working from home increases, cyber threats also become more threatening. Phishing and other types of cyber scams have been seen to rise by 40% . Many experts believe that the percentage of upcoming technology crimes is even higher. Thus, it is likely that data security software solutions will continue to be on the rise. Every company that willingly or mandatorily switches to online work will have to protect itself from cyberattacks. Tech teams will need to hire somebody that can help them achieve a decent level of security if they haven’t done this yet.
Outsourcing and Outstaffing
Whereas technology adaptation is essential to survive the unfolding economic crisis, many companies are also likely to change their team model. When offline meetings at premises become impossible, the value of technology and outsourcing increases. Those who need software development can easily hire one of the outsourcing providers anywhere around the globe. Such teams already have experience in working remotely and can quickly set up the processes. The dedicated team model or team extension can significantly reduce your costs and time-to-market. Besides, there is no need to worry about organizing the work of developers. Everything is done for you.
Cloud Infrastructure Services
Around 90% of companies use at least one cloud service. Besides, according to estimations, this year, 83% of enterprise workloads will be run in the cloud. So what makes cloud infrastructure services so popular and effective in times of crisis? First of all, they allow using remote servers to increase cloud capacity or, vice versa, quickly scale down if necessary. Apart from that, cloud solutions enable businesses to work from any location, cooperate on documentation, cut expenditures on hardware, and enjoy low-cost disaster recovery.
(Source: Gartner )
With the increasing load on the healthcare system, the attention to this field also increases. There is a growing need for reliable healthcare software that can help to keep track of all the patients, manage healthcare institutions, conduct research, and perform a range of other functions. Besides, such solutions can minimize the contact between healthy and infected people, which is essential to quickly combat the pandemic and prepare for similar challenges in the future. The investment in this type of software development is sure to pay off.
COVID-19 in Ukraine and How Binariks is Adapting to Changes
As a team located in Ukraine, Binariks knows the ins and outs of the local market. We have already talked about outsourcing to Eastern Europe and Ukraine in particular in our previous articles. Yet, with the spread of COVID-19, the outsourcing market has changed, which may require some additional clarifications.
As of April, the situation in Ukraine is stable and controlled. The quarantine was introduced proactively, which allowed the country to significantly reduce the number of cases. The healthcare system is also being prepared to help a potentially increasing number of patients.
The restrictions and social distancing don’t affect the effectiveness of the Ukrainian IT sector much. Local IT companies have huge expertise in managing remote software development and have provided services to customers in North America, Europe, and other parts of the world for many years.
For the Binariks part, we have also taken care to protect our team members from COVID-19 and ensure the continuity of our business during the crisis. Among other things, we:
- Participated in the Lviv IT Cluster’s United for Health program launched to raise money for COVID-19 testing
- Supply our staff with disinfectants and face masks
- Arrange the majority of communications online
- Provide employees with everything they need for remote work
- Communicate with our existing and prospect customers about any changes in our cooperation if necessary
- Increase sanitary norms and make sure the employees who need to visit the office keep the recommended distance
Have any questions about working remotely and optimizing your business? Contact us to find the answers.