After a roller-coaster 2020, businesses of all sizes aretrying to sustain and reset for growth and the coming year will be one ofinnovation, recovery and renewal, according to a new report.
The unforeseen circumstances owing to the pandemic testedthe organisations on their readiness to pivot and adapt to the changingsituation in 2020.
"While 2021 is unlikely to look like any recent yearin history, it may be remembered as one in which life slowly began to return tonormal after one of the worst pandemics of the modern age," said MankiranChowhan, Managing Director, Indian Subcontinent, SAP Concur, an expense, traveland invoice management solutions provider.
2021 will usher in the era of responsible business traveland sustainability. "Travel providers, including hotels, airlines, railproviders, ridesharing, and car rental services, may require travellers todisclose their COVID-19 health status until a vaccine widely adopted,"Chowhan said in a statement.
In addition to an individuals' actions, companies willplay a major role in supporting the employee experience while traveling.Leaders will need to adapt and be flexible as they aim to meet employees'needs.
Chowhan said that the companies need to embracedigitalisation and automate manual financial processes enabling employees tocut down on menial tasks and focus on more meaningful and strategic priorities.
The distribution of vaccines cannot come soon enough, asmany small to mid-sized businesses are fighting to survive the economic effectsof the pandemic.
Many small businesses have permanently shuttered due tothe economic fallout of Covid-19. At the same time, the pandemic has created anew context for commerce gaps in the marketplace have created opportunities fornew business.
"We will see more small businesses embrace digitalcommerce, changing the point of sale and/or moving from physical to onlinesales completely or in part.
"This will create new options for people to 'shoplocally' to support small businesses and enable small businesses to fill gapsin crucial supply chains," Chowhan said.