The rapid outbreak of COVID-19 has affected all industries across the globe
Most sectors are suffering through a downturn in profit, sustainability and employee retention. Labour and commercial markets, in particular, are facing excruciating business challenges from layoffs to bankruptcy. Company executives are seeking solutions while making tough decisions to ensure that businesses will even exist after the pandemic.
What can you do for your business now?
The short answer: divert your business strategy to technology (the digital world). This article offers some tips on how to get off the ground with upping your digital skillset.
Use Digital Strategies to Create Opportunities
Companies must divert their resources towards technology and digital innovations. By engaging in online platforms and networks, businesses can carry out operations better than ever before.
The pandemic has actually created opportunities for employers and employees to increase their skills. It has also opened the eyes of many businesses to possibilities in the digital world that they never knew existed. As companies are shedding employees as the global market hits near rock bottom, the silver lining is to rise above the crisis by using and developing digital strategies.
How to Scale-up Business in the Pandemic
One of the areas of technology and digital innovations that should be utilized is digital twin technology. This is a virtual representation of a real-life business, where operations use factual data and information to better their operations. This is a self-optimized innovation that is built on the foundation of physics, machine learning and analytics. With the use of simulations, companies can predict situations and make better decisions. With a pandemic holding the world by reigns, digital twin of organization offers many ways to grow and scale up a business, regardless of the crisis.
From the comfort of your home, the digital twin technology can help you obtain real time insights into sales and operations. This technology helps you foresee circumstances and predict situations that will help to prevent downtime and reduce maintenance costs. It also helps to monitor performance rates.
The digital twin technology can help to scale up profitability via its ability to help businesses identify the gaps in their performance, it also helps providing insights on cost optimization opportunities within business processes.
We can help track energy consumption usage of equipment used by the company/business. This helps to identify and solve immediate issues as well as make better plans for equipment management.
Crisis or not, with the digital twin technology, businesses will not only maintain their sustainability but also scale up their businesses from anywhere. With the help of this technological and digital innovation, businesses & employees, can stay safe, stay relevant … and stay profitable!
To discover more about the Thynkli process using Digital Twin technology see HERE.