ABeam Consulting (Thailand) Ltd. revealed in the economic recession impacted from COVID-19 pandemic, businesses have to be prepared to navigate through ‘uncertainties”, mitigate immediate challenges, and build a better future in long term with resiliency. Threats are in various industries; however, opportunities for business transformation are emerging to better serve customers and well engage with employees in the ‘New Normal’ world.
Thirteen opportunities lists have been initiated to internally and externally assist businesses for both Efficiency –Cost Optimization, SAP Acceleration, Remote Working Security Assessment, RPAaaS, and AI Debt Collection— and Value Creation –SAP IBP Starter Pack, Virtual Showroom Customer Experience, Product Portfolio Analysis, Work Style Transformation, Elastic Business Redesign, New Customer Journey, DX Maturity Assessment, and Agile System Development Assessment.
In the post COVID-19 world, the company foresees 3 main meta-trends –Change in Corporate Value, Urgency of Digitization, and Enterprise transformation—will be paramount. The reinvention and being prepared are not only for the ‘New Normal’ but for an unexpected disruption in the future.
Mr. Ichiro Hara, Managing Director of ABeam Consulting (Thailand) Ltd., a subsidiary of ABeam Consulting Ltd., a global consulting company headquartered in Japan that specializes in digital transformation, unveiled that the COVID-19 pandemic has both social impact and economic impact.
The former has been impacted on how people live, interact, work and communicate with others as well as how to move around and travel. The latter on the economic side has been impacted from decelerating to further declining with increasing numbers of unemployment. The business world is now in the stage of reopening with a challenge –how to resume businesses without transmitting infection.
“The economic situation has implications for businesses. No matter what scenarios the economy will be recovered, businesses have to be prepared to navigate through uncertainties meaning that they are called for a restructuring of operations to continuously respond to the unpredictable being designed for disruption. Moreover, they also need to mitigate immediate challenges by ensuring a safe and secure business environment to build trust as the virus is still circulating.
Most importantly, businesses have to adapt to new way of working for longer term business transformation to build a better future. This is the time to revisit and reinvent across the enterprises, focus on resilience, and be prepared for the new disruption,” said Mr. Hara.
Both business and organization are in the “New Normal” that creates threats in various business sectors. In consumer business, consumer behaviors have changed for instance consumption move away from brick-and-mortar to electronic channel, food and home care products are in massive demand, etc. Furthermore, supply chain has been disrupted from high demand for direct shipping to customers, proactive health concern on labor and transportation restriction, etc.
In automotive business, consumer behaviors also changed for more personalized experience while dealers and suppliers are vulnerable especially in their business and financial stability. In addition, organizations are in a new organization culture from remote work and personal safety and well-being concern.
However, these threats lead to transformation opportunities for Efficiency and Value Creation in both internally and externally. ABeam; therefore, initiated 13 opportunity lists to help businesses seek areas for opportunity transformation.
For Efficiency, there are:
1. Quick Cost Optimization: focusing on short-term financial statement effort and transform into cost structure for survival in the period of sluggish business performance
2. SAP Acceleration: from SAP Resilience (Remote Implementation), SAP Signature Management, SAP i-RPA, to SAP SuccessFactors (Quick Implementation) which is a process automation for faster and more agile implementation
3. Remote Working Security Assessment: minimize security threats and ensuring cyber safety to support remote workstyle
4. RPAssA or RPA as a Service: automating the business process based on software robots to reduce repeating steps to improve operational effectiveness without big upfront cost
5. AI Debt Collection: improving debt collection effectiveness using advanced solutions / AI which specifically designed for each customer segment in response to current economic needs
For Value Creation, there are:
1. SAP IBP Starter Pack: increasing production capability by balancing demand with supply to attain profitability goal during dynamic and uncertain environment
2. Virtual Showroom Customer Experience: giving customers more immersive experience in providing the services in a different way with extended reality technology without physical presence
3. Product Portfolio Analysis: analyzing product position based on both internal and external data for re-defined product portfolio to improve profitability and branding
4. Work Style Transformation: maintaining and maximizing productivity in remote work anywhere and anytime
5. Elastic Business Redesign: developing, scaling, and sustaining businesses through uncertainties and enable longer-term business transformation
6. New Customer Journey: new customized sales & marketing model based on changed customer behavior
7. DX Maturity Assessment: quickly accessing readiness of the company in DX journey and a recommended approach for DX prioritization and preparation
8. Agile System Development Assessment: developing agile and flexible system by transforming culture, organization, approach, process, and technology.
“ABeam foresees 3 main meta-trends that will be paramount in the post-COVID-19 world. Firstly, Change in Corporate Value which capitalism will continue in the future but with added focus on pursuing social value for communities and all other stakeholders. Secondly,
Urgency of Digitization as COVID-19 has given us a glimpse into the future where digital has become central to every interaction and this will continue with added more urgency. Lastly,
Enterprise Transformation that the combined effect of accelerated digital transformation along with the paradigm shift of operating in the “New Normal” will create a new standard from which companies will be evaluated. Business will re-design their operations and create value from accommodating need from key stakeholders. The reinvention and being prepared are not only for the ‘New Normal’ but for an unexpected disruption in the future,” stated Mr. Hara.