Anupam Managing Director
1
Current Covid-19 has disrupted the entire value-chain as a whole. A big challenge lies for the SME's to redesign their proven business models and adapt to the ' New Normal'. A propencity to the ' touchless economy' in retail requires remodelling of the value transmission.
How can we assist SME's from various facets to learn new technolgies, make them digital savvy in order to enhance their performances ?
Great question!
Each sector faces very different challenges so while a process might be similar the actual assistance would vary. I also think the question is probably wider than you suggest: many SMEs business models have been challenged as a result of Covid-19 – think of no-frills airlines. I would not suggest making that assumption and testing that as part of the assistance.
The assistance would therefore focus in some cases on re-building a business model. This would require a deep consideration of the business, sources of revenues and costs – and the role technology can play.
In other cases, the challenge arising would be related to the operating model. This would require providing the same product or service in different way, most possibly involving different technologies and wider automation that extends to other parts of the value chain and with less geographical dependence.
We are undertaking a lessons-learnt exercise of the Covid-19 outbreak focusing on the insurance industry. This was one of the hypotheses we were considering. We have been talking to a good number of senior stakeholders. From the discussions we have had, it seems that Covid-19 is challenging the operating model.