Economic solutions in the Covid-19 pandemic

Important tips for your business

Asia Global TopStar Standard Group
Meta: The Covid-19 pandemic has affected the national economy and the financial situation of individuals. What to do now? Check out some economic solutions.

Overview of covid and general disease situation in Vietnam

Before getting to the heart of the article, let me take a look at some of the key situations of the Covid19 pandemic in Vietnam. Officially appearing in Wuhan (China) from the end of December 2019, the virus that is considered a "descendant" of the SARS virus has spread rapidly and is now available in more than 180 countries and regions. territory. Covid-19 is a virus that causes severe acute respiratory syndrome which can lead to death.

In Vietnam, the first cases reported on January 23, 2020, were Chinese father and son. After that, the epidemic situation was well controlled with the high efforts of the Ministry of Health and the entire people. However, after the event "Patient No. 17", the situation of the Covid-19 epidemic in Vietnam became more and more complicated with the number of patients increasing rapidly (so far the number of cases has increased to 240). Policies such as social isolation for 15 days, restricting people from going out when not needed, punishing people who do not wear masks ... have curbed the spread of the disease and brought many signs. positive effect.

The difficulties related to the economy

But the dangers of Covid-19 did not stop there. It may take a long time for people to see the world economy being affected so strongly. The plausible figures released by the International Monetary Fund signal a major economic crisis as a possible scenario shortly.

But within the scope of this article, I would like to not discuss things of such magnitude. Let's look briefly at the scope of the problem in Vietnam. The lives of people are completely turned upside down.

Many people who work in the service or business sectors are unable to work because of government policy which makes their income almost barely enough to sustain daily life.

Also, according to a survey of the Private Economic Development Research Board of over 1,200 businesses on the impact of Covid-19 on business activities, it shows that if Covid-19 lasts for 6 months, 74% of enterprises can go bankrupt.

The main reason is that revenue cannot compensate for activities such as salary payment, bank loan interest, premises rent ... Also, nearly 30% of businesses lose 20-50% of revenue, 60% of businesses even reduce sales by more than half.

The groups that are serious and immediately affected are aviation, tourism (accommodation, hotels, eating and drinking), education, textiles, leather and footwear, furniture manufacturing, etc.

Typically, the aviation industry may lose up to the US $ 1 billion because many routes have been "frozen". The number of domestic and foreign tourists plummeted, many tours were canceled due to the fear of disease. Many businesses in other industries also have to cut employees or take turns to leave workers due to lack of budget.

Covid-19 also caused production to be stagnant, trade was limited, agriculture, retail, and international investment flows were also "hit".

Solutions

Those are just a few of the highlights of Vietnam's gloomy economy. And you can easily see that businesses will be the most affected in this period. So what solutions can be put in place to help businesses limit some of the losses? Combined with Asia Global TopStar Standard Group, I will give some directions to help you, who are related to this field, refer.

# 1 Digitize stored data

Digitizing stored data is the process of converting traditional forms of documents such as handwriting, prints, audio, images, etc. into standard documents that computers can recognize and read.

As you can see, digitizing stored data is the optimal way, with digitizing data to help make storing, retrieving, sharing, or finding information very easy. This measure helps cut down the maximum cost for management and storage space. In addition to digitizing data, we can edit and reuse documents, flexibility in converting to different types of digital documents.

At present, the market of digitalized data storage is new to Vietnamese businesses so businesses need to evaluate and select reputable suppliers capable of providing a digitized solution. It is not just a matter of supplying scanners and customers need to understand the need to make the appropriate choice:

·      What kind of documents will you digitize?

·      How many documents to digitize over how long.

·      What is the purpose of digitizing your main data? (access, operational efficiency, increase revenue ...)

·      What size of the document do you want to scan?

·      Do you need scan quality? (Resolution ?, 1-sided or 2-sided? ...)

·      What kind of output format do you want? (TIFF, JPEG, PDF ...?)

·      Budget to conduct data digitization?

# 2 Have effective advertising planning

PR for products on online platforms is gradually becoming the right direction for many businesses. You need to look at a fact like this, when the Covid-19 epidemic was raging, all trade and direct trading activities were limited to the maximum.

And with so many customers, phones and computers will be the only channels for them to contact the outside world. Just select the appropriate advertising method and you will open up a potential market source.

Asia Global TopStar Standard Group is building great advertising support packages. For only $ 150 you will own the Advertising packages. It is worth a try.

# 3 Rebuilding the CRM system

CRM stands for "Customer Relationship Management", which translates to customer relationship management.

Simply understand the business that manages the interactions with customers thus forming the relationship in the business. This model helps create a customer care and management process to help build strong business relationships.

Depending on the size, size, and size of the business, the process of implementing CRM in businesses will vary, but still includes the following basic steps:

Set specific, detailed requirements for each department, department, department, based on the initial overall goals set out in the CRM strategy.

System design and integration, this is often a time-consuming stage in deployment. Activities that need to be oriented: CRM SALES, CRM MARKETING, CRM SERVICES, CRM ANALYSIS, CRM COLLABORATIVE

System test: test the functions of the chosen solution to meet the needs of businesses, to ensure that the system is operated smoothly.

Train employees to exploit and use the system

Gathering staff feedback, especially customer care as well as customer feedback. Based on that, evaluate the performance, the benefits that CRM brings.

# 4 Start-up planning

Starting a business is one of the most mentioned phrases in recent years. But starting a business so effectively, how to get as much profit as possible is quite a difficult problem.

With Asia Global TopStar Standard Group, when using "Start-up Services" for $250 you will have a whole team of supporters to help you in every way.

Conclusion

Enterprises are increasingly asserting the role of "locomotive" in the economic development of nations. And for Vietnam, this is no exception. Hopefully, the solutions I have mentioned above will be a reference channel for you.