The Importance of Business Agility
While it has always been known that no one can predict the future, COVID-19 has shown us that even with that knowledge not a lot of companies are truly prepared. Today’s landscape means that competition is fierce and not every business will survive.
Businesses that can weather the storm, no matter how long it continues, will come out on top. But what will give your business the ability to enter uncertain times and come out the other side?
I believe it is Business Agility.
Business Agility is the ability of a business to easily adapt to change. While this seems simple to achieve, the reality for most businesses is far from it.
See most businesses love stability. Stability can give your business the ability to plan for a certain future and accurately predict the projection of the company. So in times when things are certain, businesses with a controlled structure and fixed costs tend to come out on top. And the financial markets have shown that stability can continue for decades. Thus giving the false sense of security of what will make a business successful in the long term.
But if the first quarter of 2020 has taught us anything, it is the world is far from certain and stable. So much is out of our control, and the moment control is lost, your business can lose its insight into the future, which is where things can start to unravel.
In uncertain times the businesses that survive aren’t the biggest or have the most money.
The businesses that survive are those that are agile, lean and nimble and are able to quickly shift gears and mirror what is going on around them.
So when revenue stops, how quickly are you able to shift your expenditures to help your business survive?
We believe that scalability is key and Software-as-a-Service (SaaS) is at the forefront of change. The concept of being locked into a contract, with minimum terms, spends and cancellation fees will stifle your businesses ability to be agile. When times are tough, every cent spent is analysed and you will start to resent paying for or even be able to afford, services that are simply no longer being used on the same scale.
SaaS provides the ability for your business to scale up and down depending on your situation any given month. It is the tool that allows you to weather the storm in bad times, but also exponentially grow in good times.
Logmate is one of the leading SaaS businesses when it comes to transport compliance management in New Zealand. We take it upon ourselves to make sure every one of our customers is happy and feels supported through tough times. Because there is a light at the end of the tunnel.
Also published on _medium.com _