Bob Sherman, Shenkman Capital, Shares Ways Businesses Can Leverage Technology During Social Distancing
For some time, most industries have had the tools to assist clients and colleagues virtually. Today, as many businesses that can digitally transform are doing so. While there are growing benefits to virtual business operations from a cost and productivity standpoint, the biggest concern on everyone’s mind is the safety of others and maintaining adequate social distancing.
Desperate times call for desperate measures. Thankfully, these “desperate measures” are relatively painless for those organizations that deploy company-wide updates to devices and software.
Bob Sherman, Shenkman Capital, of Stamford, Connecticut, is a former investment firm CEO and current business professor at the University of Connecticut. During the course of his professional career, Bob specialized in asset management, quantitative analysis, and corporate leadership. He is also a graduate from the University of Connecticut with formal degrees in Finance and Economics.
Digital transformation is not simply buying newer technology, it is a strategic mindset. The critical question is: why does an organization want to move from analog and paper to a fully digital work structure, complete with mobile device capabilities, and cloud solutions?
After answering that question, experts and managers go to work customizing available technologies to streamline a new standard of business operations. In this case, the goal is maintaining processes, lowering costs, keeping employees safe at home, and making sure that clients feel sufficiently served despite the inconveniences of a worldwide crisis, says Bob Sherman, Shenkman Capital.
Keeping Work Teams Safe
Utilizing technology to maintain a safe virtual workplace means finding robust collaborative tools. Many tech companies are bending over backwards to help companies achieve this collaboration, says Bob Sherman, Shenkman Capital.
Google’s G-Suite announced last Spring that Google Meet Premium (a video conferencing tool) would be free to businesses for the foreseeable future. This offer extended to users without a G-Suite subscription.
Other productivity tools are delivering more integration and features to enhance the remote workplace.
Bob Sherman, Shenkman Capital, on Keeping Customers Safe
Many of the tools that help employees work from home also allow companies to assist their clients remotely. From omnichannel retail and roadside delivery to legally binding digital signatures on contracts, there are now thousands of solutions to choose from.
Technology, particularly in the eCommerce and SaaS industry, is even able to offer more value to customers since the COVID-19 pandemic began. Social distancing has enhanced the digital tools available to nurture long-distance relationships, such as social media and video. Business and consumer products and services are beginning to meld into digital communities assisting one another during a challenging time in history, says Bob Sherman, Shenkman Capital.