The Coronavirus pandemic has created a global economic crisis that has never been seen before.
Business priorities have shifted to retention of liquidity with defensive strategies deployed to reduce risk and increase performance. With uncertainty of the timeline, future planning has become impossible. Revenue and expenditure forecasts have been ripped up with continuous fire drills amongst senior leaders and executives to identify such strategies. In some instances, businesses will use the opportunity to refocus the business and explore new business models or ways of working.
From a technology perspective, executives should focus on bottom-up planning to fully understand the new business needs and the expenditure required to deliver against it. This should also include the following.
Social distancing has dramatically reducing physical ways of doing business driving customers to online channels. Any downtime in your online services now has a more significant impact than before.
People are the weak point in any security model. Attackers are using Covid-19 to mount vast numbers of social engineering attacks. Technology defences should be continually reviewed and secured and education should be continuous.