Recession and the risk of ongoing uncertainty is high on the list of business challenges right now.
The last recession in 2008 saw a calamitous and sudden capitulation of capital markets; was a disaster akin to a tornado … sudden and unplanned. The aftermath saw business cut hard and fast in reaction to it. This time things feel more like a drought. We know we are already in it, and we can feel the economic cogs moving slowly but with potentially devastating consequences.
The headwinds are many: higher prices, supply problems, war, post-pandemic malaise. Businesses however will be asking the same questions: how do I cut costs, become more efficient, become less people dependent, how do I remain good value for my customers… how do I protect my stakeholders? How do I keep my job?
In 2008 ComXo experienced the first wave of office support outsourcing in professional services. We saw the demand for our technologies and managed services increase, as we pivoted to meet demand for business transformation, helping to drive down costs.
This time we expect even greater demand.
The combination of Brexit and the pandemic have changed so many contributing factors that this upcoming financial period is far harder to predict, with risks across a number of areas. The physical office is being used differently, hybrid work has evolved, data is more abundant and the balance in employee engagement has shifted. The new corporate world is driven by business service personalisation, on demand access 24/7 to integrated services, insight-driven facilities management, self-service, intelligent triage, and outcome driven KPI’s. Those that have not yet benefited from the technology dividend and business continuity benefits of support solutions, are likely to embrace it, or risk being out-manoeuvred by their competitors.
Our professional service customers such as PWC are using ComXo outsourced business services to lead the charge of reimagined client experience, cost rationalisation and new generation business continuity. Our legal and financial customers are following service roadmaps to do the same. It is clear to see from our clients’ financial results that this approach works now, and for the future of a successfully functioning enterprise.
Want to find out more? Talk to our team for insights and case studies that might help your planning.
Andrew Try, Founder & Managing Director