Theresa May stood outside Number 10 after her audience with Her Majesty the Queen on Friday and announced that she will now form a Government to provide Britain with “certainty”. Really? The only thing more certain coming out of this election is that the country has a much stronger second party in Opposition than was the case before she called it.
Whatever your political persuasion, we are faced with a “fog of uncertainty” as Larry Elliott wrote in The Guardian, investors are “unnerved by economic uncertainty” as reported on the BBC, and business leaders are “appalled at the prospect of more political uncertainty” as Sarah Gordon reported in the FT.
So should we be despondent? What does all this uncertainty mean, for business and for our Professional Services and IT Services industry in particular?
Well, let’s take a look at what needs to happen in the wake of recent events. Both Public Sector departments and private sector businesses have a broader range of forward Brexit scenarios to consider than they thought before and they’ll need help with scenario planning now and with solution design and implementation later. Security, both physical and cyber, needs another round of thinking and additional solutions to be implemented to make citizens, consumers and businesses be and feel better protected. Businesses with strong export trade have a window of opportunity to exploit with an even weaker pound – let’s help them expand in existing overseas markets and conquer new ones. Equally, our own services are now even cheaper to buy by non-UK clients for a period – we should be talking to our international client base and capitalising on this.
Quite apart from these, there’s a huge amount of change happening that has no link to whether things are certain or uncertain in UK politics – the pace of change won’t slacken just because of a somewhat unexpected election result. We’re heavily involved in lots of this change and the demand for our expertise and resources won’t diminish any time soon as:
- consumers continue to utilise digital channels alongside traditional ones, requiring omni-channel business strategies and integrated IT and supply chain solutions
- software manufacturers push their customers towards their shiny cloud-based solutions and the customers have to decide whether to go with this and the IT transformation programmes that result or stick with existing systems that work well enough but which may need to be self- or third party-supported
- big data gets ever bigger – analysing data and extracting the critical intelligence needed to make business decisions swiftly is becoming ever more important
- the opportunities created by artificial intelligence become better understood – it’s not just about automated factories any more
- ….and so on….
The political environment may be uncertain but the future for our industry is bright!