Looking ahead of the crisis is crucial
Naturally, companies are tempted to use short-term solutions while their business is at stake (top-line preservation, cost cutting, margin optimization, cash preservation, etc.), limiting IT investments to sustaining business continuity. While that is understandable, it is also critical to keep an eye on the beyond. Indeed, it is known that the competitive landscape is reshaped during large crises; markets, competitors and value propositions differ from those before the pandemic. At this stage, it is crucial to understand the changes ahead in order to take the correct steps that will align the company with the world beyond the crisis.
A window of opportunity to implement changes within the company
While at first it might seem counterintuitive to discuss business/technology transformation, considering the main priority is to focus on the impact on human beings, this is an excellent window of opportunity to implement innovation, review business processes and identify new business opportunities in an Early Recovery Scenario that will mitigate future impacts.
The three phases of the EY Resiliency Framework
To help companies bridge the gap between now and then, EY defined a Resiliency Framework divided into a three-phase approach (Now, Next & Beyond) ensuring the continuity and redeployment of IT initiatives, while also making it more resilient.