Searching for business optimization

By Aleksandra Prusator, Co-founder and Member of Board, FORDATA

The COVID-19 pandemic accelerated the digitization processes in business but the main reason for the massive adoption of digital solutions by companies worldwide that we are now witnessing is the urge for optimization. In 2020, coronavirus has become the main factor to optimize and when it is finally dealt with, technological development will not stop its advancement. E-commerce, mobile payments, platforms for remote operations and online security solutions - areas which proved to be lifesavers of many businesses - will not lose in importance. On the contrary, they will be adopted in many new ways and equipped with live data interpretation, process automation, big data algorithms, AI and other tools that will allow for greater optimization and discovering new opportunities.

COVID-19 is, unfortunately, still here.

In 2021, we can expect more companies to initiate restructuring processes on a larger scale, once they have calculated their year-end balances. The same applies for businesses that found themselves in distress and used governmental help. Will they be able to stand on their feet once the biggest threat is gone and the flow of subsidies ceases? The true scale of destruction remains to be seen. What we can tell for sure is that business and technology will continue to influence each other in the coming year, especially in the sectors of green energy, logistics, automotive, life sciences, TMT and FMCG.

As a CEE-based provider, FORDATA has observed the digital sector’s tour-de-force for several years now in Poland, Czech Republic, Hungary and other countries, as it still is one of the most attractive investment targets. Also, the development of RES, consolidation of financial institutions and the EU regulations will influence business in 2021. For instance, Poland’s off-shore and solar energy projects are expected to push forward the country’s economy in the near future as the government has given the green light to accelerated investments in this field.

Europe, USA and China will lead the green transformation forward in 2021. Commonly perceived as the decisive decade for climate change, the next ten years will hopefully see more incentives from governments and central banks for companies to invest and develop green technologies. This will all gain speed next year.

In 2021, FORDATA is going to help companies speed up processes they conduct with the use of our Virtual Data Room even more. Fast operation is the part of optimization efforts. In order to provide it, will rewrite some big chunks of the code to make FORDATA VDR technologically faster, the interface and UX - refreshed, and will add new AI-based document redaction tools thanks to which blacking out specific information can be done fastly in one place. To back up technological solutions, we will further develop soft skills of our customer support team to make interacting with it even more comfortable.