The year 2020 will be a tricky year for SMEs in every sector, across both B2B and B2C segments. How an entire industry or even a particular wing of it will be affected though, remains to be seen. Nevertheless, due to the unpredictable nature of the markets in 2020, it is more ideal to have an adaptive strategy for business that follows trends closely but doesn’t fully commit to them without careful consideration and intelligent analysis.

Hard decisions will need to be made

group of people using laptop computer

The effects of the ongoing pandemic on the world economy are already quite evident, as it has shut down numerous sectors indefinitely. To cope with the unavoidable economic losses from the worldwide lockdowns, a lot of affected companies already have very difficult decisions to make ahead of them. Workforces will need to be shrunk, promotions will have to be delayed, and major executives will have to take heavy pay cuts in the future.

Not every sector is thinking of survival

In spite of the seemingly dismal picture, not every industry is suffering equally, while others are even considering rapid expansion. The most prominent examples of segments that fit this bill are medical, Software as a Service (SaaS), selected sections of e-commerce, and gaming.

The thriving SaaS segment and its importance to online retailers

The rapid need for expansion and growth within the global medical industry does not require an explanation right now because it’s simply too urgent and obvious in the shadow of this epidemic. Aside from that, there is an interdependent and thriving economy that exists between software solution providers and retailers already. It flourished long before the lock-downs started but has boomed exceptionally during this period.

Any online retailer that wants to remain operational and productive enough to take advantage of customer demand in these trying times will need to find adequate SaaS services to support their operations. For example, working from home is a trend that’s here to stay for quite some time, but without the right software services keeping employees connected, the company’s private data secured and all customer information updated, that is not a model that would have been considered sustainable with a remote and diminished workforce. However, thanks to PieSyncc and its integrated support for over two-hundred business applications on the cloud, every single employee can do more work in less time, making the work from home model practical.

Consider Pipedrive, for example, which is an excellent web tool for client management, lead generation, sales boost and various other, highly useful analytical features. On the other hand, we have Mailchimp, which is one of the top business email clients and marketing automation platforms in the world. It would be infinitely time-efficient for employees if each of them could somehow make these two work in perfect, two-way sync with each other, and you can do this through PieSync quite easily. It’s not just limited to two apps either, but hundreds of them could be simultaneously synced both ways with PieSync.

The longer people have to stay at home, the more likely they are to spend money on digital services, be it for entertainment, necessity, or work. As this is not an optional situation, the companies that survive, thrive, and even grow to an extent amidst all this, will be the ones that adapted to these new working conditions the best. Cloud technology will continue to play a huge role in building and keeping the new business models sustainable and profitable.