With coronavirus disrupting all of our daily lives, Teneo’s Technology Practice hopes that you and your families stay healthy and safe. Throughout this period of unprecedented upheaval, we remain as committed as ever to providing the strategy and insight to make informed business decisions.
The first phase of the corporate response to COVID-19 has been focused on ensuring the safety of teams, and fortunately for most software firms, adopting home working is a viable model. On best estimates, COVID-19 means the world will be in effective Lockdown for many months. During this period, firms in all industries need to make radical changes to their operating models. Software firms will be relatively less financially affected than other industries due to the recurring revenue model. However, significant changes are still required, while simultaneously taking care not to destroy long-term value. In this paper, we explore the measures C-level software executives should be implementing to operate successfully in the “Lockdown phase”.
The world following the crisis will be vastly different. Firms will have been forced to embrace remote working and the value of SaaS deployments will have changed forever. Teneo argues that over the coming weeks, software CEOs will need to develop a proactive COVID-19 Lockdown strategy. This strategy must aim to support customers, employees, and partners through these difficult times. CEOs must consider their own role during this crisis, ensuring they have access to the latest information on performance, more frequently than normal reporting cadences, and engaging their executive teams to maintain focus on the right issues. Firms that support their stakeholders through the next few months, as opposed to profiteering, will benefit during the Rebound phase and beyond.
To download the full paper, please click here.