The threat of coronavirus is looming worldwide. Already declared as a pandemic, COVID-19 has hit many countries, including the United States.
You may already be experiencing brutal changes in your daily business routines. There’s growing anxiety about the personal dangers of the epidemic and its impact on businesses.
But, the bigger question among business owners today is – how to adjust to these work changes? Should you stall your technology projects?
Or, is it the right time to start investing in new technology developments?
The answer is YES.
There’s no need to panic when it comes to investing and starting new projects during the Coronavirus epidemic, especially when you’ve got a reliable tech partner like Imaginovation.
Now, you might be wondering – why should I be investing in new projects when the market is really bad?
Well, let us give you a new perspective and explain why you can still start an app development project even during the coronavirus scare.
Reasons Why You Can Invest in App Development during Coronavirus
Below are the reasons why we think it’s still a good time to invest in new projects and keep up with your original business plan.
In today’s tech-driven business environment, anyone can work from any location as long as they’re connected online. At Imaginovation, our team is fully equipped with state-of-the-art tools and communication platforms. Our team can work remotely while maintaining safety as well as a high level of productivity.
When you have got a technology partner that follows the same approach as we do, you don’t need to worry about your investments. Now, let’s take a look at the approaches that enable companies like us to continue providing top-notch services, even during the epidemic.
1. Robust Communication Platforms
Antoine de Saint-Exupéry, the French writer, who wrote “The Little Prince,” said that if you wanted to build a ship, then instead of assigning tasks and work, you’d rather teach them [team] to long for the endless immensity of the sea.
Why this analogy? Imagine you have a technology project on hand instead of building a ship. You would need to communicate the purpose to your tech team so that your entire team is longing to achieve the common goals in high spirits.
So, what makes us stand out in this approach? You guessed it! A well-established internal communication platform. The platform can keep your entire team wholly aligned with your project goals.
Internal communication is a critical component of any business. It helps streamline workflows, especially with an increasing prospect of having to work from home during the Covid-19 situation.
Intranets used to be a preferred platform of choice. However, organizations are now adopting internal communications platforms to enable employees to work smarter.
According to McKinsey, workers spend around 20% of their time searching for information or for someone who can help them with specific tasks. In such scenarios, the internal communications platform can facilitate teamwork and collaboration. It can also help increase flexibility and improve workflows.
The added advantage, it works wonders when the team is working remotely. It keeps everyone connected. You will find the request for internal communications platforms and apps rising in times to come.
2. Tracking Progress Anytime
So, how do you track the progress of your project when your tech team is working remotely? Your development partner should send you a detailed project schedule at the beginning and then every week or month as things progress.
Usually, the progress report highlights:
- Tasks completed in the previous week
- Status on each phase such as design, coding, functional specifications
- Tasks planned for the following week and responsibilities
- Update on tasks or activities that are slipping over budget or schedule
The right development company sees the client as a team member and expects support and cooperation during the entire project while maintaining full transparency in the progress report.
3. Take Advantage of Government Credit Extension
In 2020, the government has set the budget, raising the rate of research and development expenditure credit (RDEC) for large businesses with around a 1% increase in the claimable rate. The RDEC (also known as the ‘above the line’ credit) is a standalone credit that one can bring into account as a receipt in calculating trading profits.
With effect from 1 April 2020, the rate of RDEC would increase from 12% to 13%. Now, that’s quite promising, isn’t it? The budget could support you in your investment in research and development, and also help you to drive innovation.
Wait, there’s more! The government could also consult on whether qualifying R&D tax credit costs should include investments in data and cloud computing. You can also benefit from the introduction of a PAYE cap on the payable tax credit in the SME R&D scheme that will be delayed until 1 April 2021.
With a promising budget and the fallout from the coronavirus threat, it may spell more cashflow for companies using the scheme. The rate increase will be here for the long term, and if you qualify, then it will help you to plan your future cashflow.
4. Work from Home Employees
With the increasing Covid-19 scare, working from home is no more an option, but a necessity. It is an effort to keep the workforce healthy in the face of the spreading coronavirus.
But, working from home shouldn’t take a toll on your project, right? Relax, there are many benefits to working from home. It reduces autonomy for employees, commuting time, and increases productivity. Yes, you heard right, it increases productivity!
One Stanford study found that employees who work from home are 13% more productive compared with their in-office counterparts. The concept of working from home is catching up. With access to wifi almost anywhere and tools like GoToMeeting and Skype, remote communication is a breeze.
What about risks? Are you worried about breaches due to people working on unsecured networks? Some entrepreneurs are also concerned about security or remote workers not understanding their roles and responsibilities.
We have mitigated the risks by establishing a set of procedures, mainly to tackle work from home scenarios. Some of the approaches include the mandatory use of a VPN and ensuring encryption for all data. We’ve defined specific responsibilities, and also outlined best practices for securing remote workspaces.
5. Get Unmatched Security
We know it—that security bee is still in your bonnet and for a good reason!
We agree with you. With tech teams opting for working from home, you need to ensure that your technology partner is doing due diligence.
We have a policy which tells our employees what they need to do and how to do it. Next, we have the right tools, which help us reduce the risks of working remotely.
What are some remote working policies? We already talked about ensuring the use of a VPN and encrypting data. But, we also have strict password policies to reduce the risk of employees using the same password for services. We have set up built-in firewalls too.
In conclusion, threats like coronavirus can create disruption. However, you don’t need to worry.
As business owners, who wish to start new projects, all you need is to have a tech partner who has robust strategies and the right tools in place.
Turn Your Ideas into A Digital Reality with Imaginovation
The time is just right to start thinking of future scenarios and invest in your ideas. Yes! You can commence app development projects even during coronavirus scare. Our award-winning team at Imaginovation can help you.
Be safe and start thinking. Let’s talk.