Economy of Corona Time: Private companies need more technology engagement to survive!

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We are passing a tough situation due to Corona pandemic. Many private companies are facing huge challenge to survive. in this consequence, they shut down their business. But many companies are trying to plan differently. In the Corona effect for many more days, we will have to face new challenges in managing the business. The challenge is protecting workers' health, running a business, making a profit and retaining good workers. So, we need different ideas for reducing business cost. In this case usage of more technology can give us more space for our business.


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In individual banking, almost all of us have become familiar with online banking or alternative banking (Internet banking, ATM, credit card, debit card or POS machine) as well as digital banking. Mobile banking is already very popular. In the future, more work or transactions can be done online, including international trade. The regulatory body may be more active in this work. Banks will invest more in digital banking. It will also save a lot of money if we can relocate the branches of commercial banks.

Even keeping more workers in the ‘working from home’ system will reduce the need for space in the office and save a lot of money on rent. The cost of commercial real estate will decrease. The effect will also reduce the operating costs of any companies. Many of the officers will be able to work in shifts at home, which will increase their quality of life and productivity.

As we can see, the use of ‘work from home’ and technology has increased a lot due to Corona. Many are talking about reducing office space and expenses. If more people can work from home or have technology support, there is no need for extra rented, big houses or buildings.


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Undoubtedly, the use of technology in future business will increase a lot. If Corona stays for some more time, the cost of trade will increase to ensure safety materials. With the use of new technologies, the risk of cyber security will also increase. However, if the number of users increases, the cost of technology will naturally come down. It will also be possible to invest in new security.

if you can't innovate in running a company, most companies will lose profits. Maybe technology, super shops, mobile operators especially pharmaceutical companies will be the exception. On the other hand, reducing operating costs, retaining good employees, and changing business models will increase the profits of many in the future. The goal of a business is to reduce costs, increase the use of technology, increase the efficiency of manpower, change the business model.

We know that if the unemployment rate increases or the number of unemployed increases, there will be a huge outcry. There will also be social problems. But to make the organisation more efficient, efficient and cost-effective, it needs more technology engagement and reduce all possible expenses.



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