Information technology has been the most blooming industry in last few years. But even this industry experience hiccups as Covid19 hit the world. Every industry has got effected by corona virus and IT is surely no exception.
The Increasing Pressure on IT Companies
Truth be told, in the near future, IT firms might experience the burning sensation of pricing pressure, loss in revenue because of lockdown around the world. Client insolvency and sluggish client decisions are bound to bring hard time for the IT business.IT is mainly dependant on internet but again, there are some chores that must be carried out physically and in the campus of the office. However, heavy work load got executed during this hard time because of the nature of the work.
Cancellation of Projects
Lately, there have been various firms that have already encountered cancellations of projects by clients around sectors because of shut down of cities and reduction in air travel and countries to embrace social distancing to deal the pandemic. Since, it is an industry that depends on the overall economy of the world, the industry has seen hardships. Maybe IT companies managed to work effectively and efficiently, despite the pandemic, but there has been uncertainty in the projects by the clients and many clients even backed off at the final stage.
Work from Home: Not a Big Problem for IT
Both the employers and employees have been compelled to work from home during the instances of this lockdown and that has in-turn showed the possible held in distant working. Though different particular industries cannot depend on the model of work from home for the general functioning of their firm, other tech-related and tech- oriented and media companies that have a huge piece of work being done online have barely been affected by the lockdown in terms of work.
Since, most of the work in IT is done on desktops, laptops and on cloud; the work here has not been affected adversely. To a greater extent, many employees have been working on the servers, cloud and internet to keep the flow of work going on. Of course, IT also had its fair share of struggles in terms of protecting the confidential material and information, that could leak because of unreliable internet connections in different regions. But the IT professionals and IT savvy people came up with alternatives and ways to keep the material guarded and intact. But yes, technologies to enhance smoothness and productivity during distant working should be worked on. The pandemic surely tested the agility, adaptability and adjusting capabilities of IT companies.
So, it would not be wrong to state that IT companies have also faced a good share of adversities because of Covid19, but it has been still better than the other industries.