Page 105 - SAMENA Trends - May 2020

ARTICLE SAMENA TRENDS

ARTICLE

How ICT Service Providers Can Turn Pandemic Threats

into Opportunities

We are entering a critical period. Measures taken in the
digital field in the next 12 to 18 months will determine
whether businesses can succeed in the new environment.

Companies that build the right digital capabilities can
survive and prosper.

The dual shock of the COVID-19 crisis market on which it now depends is
and lower oil prices is forcing many underdeveloped in the GCC. Technology
governments and companies in the infrastructure and business regulations
GCC to digitize their operations despite have not assisted the development
growing pressure on costs. Information of digital platforms in the region. For
and communications technology (ICT) example, digital finance is barely present
providers are ideally placed to help these in the region, which lags East Africa in
organizations secure effective and value the level of digital payments.
for money solutions to this dilemma.
Jad Hajj, Partner To capture this opportunity, they must We are entering a critical period.
urgently develop plans incorporating Measures taken in the digital field in
new product development, marketing the next 12 to 18 months will determine
and operations. whether businesses can succeed in the
new environment. Companies that build
The sudden economic decline will the right digital capabilities can survive
inevitably lead to severe financial and prosper.
restraints throughout the economy, and
will affect expenditure on information ICT service providers in the GCC are
technology (IT). All sectors, save health best placed to support companies
and education, will likely reduce IT and governments during this critical
spending. Cutbacks in the transport phase. Most of them already have solid
sector, for example, may even reach 10% relationships with government entities
according to IDC. due to their support on recent digital
transformations. They have access to
Despite the necessity for savings, talent through contracts with third-
the organizational world has had to party providers, and they specialize
make radical changes in the way it in products and services that are now
operates due to constraints on personal especially relevant. ICT service providers
Hani Zein, Principal movement and face-to-face contact. must therefore act in four areas.
Another problem is that the digital
Strategy& Middle East, part of the
PwC network

105 MAY 2020