Covid -19
Number of Posts: 4
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Number of Posts: 4
Automation | October 5, 2020
Cybersecurity Issues Amid an Extended COVID-19 Lockdown
Kristin Hazlewood, general manager and vice president of HCL BigFix on Cybersecurity Leadership: Continuing issues amid an extended COVID-19 lockdow.
Marketing & Commerce | September 16, 2020
Coronavirus, eCommerce and Shifting Supply and Demand.
In March, the paper product isles in the grocery store were empty, you couldn’t find toilet paper, paper towels, Clorox wipes, etc. anywhere. Funny memes aside what people may have missed is the trickle-down effect that this would have on the supply and demand curve. Have you noticed that the grocery shelves still remain light in stock, or even empty? The stock of many products is limited as manufactures shifted their attention to help with COVID-19 by turning their facilities into facemask, hand sanitizers, plastic face coverings and ventilators makers. Next time you go to the grocery store, take a look at the shelves and you’ll see there is not the stock we once knew. The COVID effects will affect the Supply and Demand curve for the next foreseeable future. Are you ready? We have all been forced to learn about supply and demand - when there is little supply and the demand is high, it will cause prices to increase. On the other hand, when there is an increase in supply and the demand is low the price will decrease. Before technology, the supply and demand curve were more predictable to manufactures. The data stay trued for a month, quarter or even a year. However, in today’s world the supply and demand data can change in an instant. Today’s essential item might not be tomorrow’s and manufactures are having to go with the flow of what is in demand today. The only way to be able to ensure you are ready for changing demand is to have an eCommerce platform that can shift just as quickly. The partners that HCL has aligned with are all working towards the same goal, for our customer to be able to sell quickly and efficiently. When working with HCL and our partners, our...
COVID-19 and Changing Business/Customer Interaction
COVID-19 will have long term if not permanent impact on how society will interact with all aspects of our lives including how we work, shop, dine and manage our finances. Companies must react and put the right measures in place to respond to this event and potentially future events as well as accommodate changes in consumer behavior which have already taken place.  In some respects, society is fortunate this happened in 2020 and not in 2000 because technology is in place to perform many activities that we could not do 20 years ago.  Our ability to work from home using video conference technology, home delivery of food with DoorDash and Uber Eats, banking on-line including such functions as the ability to deposit checks with just the click of a phone, shopping on-line often with next-day delivery, having virtual doctor visits and the migration of many retailers to digital storefronts make this much less impactful as it otherwise could have  been.  Even with all the progress we have made, there are many businesses which have still not fully moved to a digital interaction with their customers and many of them are significantly impacted by the events taking place.  These high-touch areas of our economy must evolve their business models to provide equal to if not better levels of service through a digital interaction model compared to their current high-touch engagement models.  This will not only be a necessity against future impacts but will simply become part of doing business with a society which will forever change the way they do business. As I have spent the majority of my career in banking technology, one obvious area of improvement is how we pay for things.  As children we were all told cash is dirty.   Guess what, that not only has been imprinted in our minds, but come to find...
Uncategorized | March 24, 2020
How pandemics may change the way we bank and run our banking technology
As of this writing on 3/20/2020, we are in the early stages on determining the impact the COVID-19 virus will have on both the economy and our lives.  While we still face many unknowns we are beginning to learn lessons which give us the opportunity to change the way we will bank in the future not only for events such as the current pandemic, but how to better support banking customers in general.  Hosting in the cloud:  A big part of the role of a Chief Technology Officer is business continuity planning to make sure that the underlying systems that support the banking business can operate under any conditions.  We frequently perform disaster recovery testing to ensure our critical applications continue to operate in the event of a regional disaster.  Although pandemic planning is part of our business continuity plans, the scope of COVID-19 may stress those plans to operate our technology infrastructure by limiting our operations and support organizations.  Cloud hosting can potentially be a tool that can be leveraged to extend our required resources to 3rd party providers in the event staffing operations and support teams become problematic.     Contactless payments:  With the introduction of “social distancing” the last thing we want to do is come in contact with payment devices including payment card terminals, ATM machines or handing cash to cashiers.  Fortunately, some merchants such as Starbucks and Dunkin Donuts allow you to have the QR code scanned using their mobile apps not requiring any physical contact.  This is more the exception than the norm.  This is an opportunity to accelerate the move to contactless payments.  Near Field Communication (NFC) payments is a well established technology and should be accelerated to more merchants and channels.  Contactless cards should also become the standard in the card industry. ...
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