STITCH Tech Solutions, a startup information technology (IT) company of the Tanco Group, stands highly committed to the organization’s own digital pivot, as well as those of other businesses, particularly the micro, small and medium enterprises (MSMEs) that are in dire need of a feasible Business Continuity Planning (BCP) to survive and continue to remain stay afloat amid challenges brought about by the pandemic.
“The repeated increase Covid-19 cases that we are experiencing now and damage due to perennial disasters—typhoons and earthquakes—exposed significant risks for people and the businesses. So given this, the way to go really is to implement some BCP,” Stitch Chief Operating Officer Alex Aquino told reporters during their recent webinar.
The ensuing pandemic has impacted the global economy, including the Philippines, due to a halt in most, if not all, industries and business operations with the ongoing lockdowns.
In fact, he cited a study from the Asian Development Bank published in September 2020 which showed that 71 percent of MSMEs surveyed in the country were forced to temporarily stop their operations. Few weeks later, the Department of Trade and Industry reported that around 90,000 entities, mostly MSMEs, remained closed.
Business risks, nevertheless, continue as the country is prone to catastrophes. On the average, 20 storms strike the country annually, per the Philippine Atmospheric, Geophysical and Astronomical Services Administration. The Philippine Institute of Volcanology and Seismology lists 24 active volcanoes and a bunch of fault lines nationwide.
With such potential threats, the BCP comes to the rescue as it helps MSMEs to create a system of prevention and recovery. Pivotal to this is a reliable IT infrastructure like cloud computing that provides manifold benefits, such as speed, flexibility, global scale, productivity, and cost savings.
Unluckily, there is a disparity in small and medium enterprises’ (SME) access to cloud computing tools and BCP practice. The International Labour Organization (ILO) published a research in 2015 showing that SMEs in the Asia-Pacific region are the most vulnerable and least prepared for disasters.
Likewise, it cited a similar study saying that only 13 percent of the region’s SMEs have BCPs. Major local firms have actually utilized cloud computing as part of their BCPs in the storms’ aftermaths. However, the ILO research noted the Asian Disaster Preparedness Center’s point that the lack of awareness on BCP is among the major barriers to the concept’s adoption.
“In a country prone to disasters, coupled with the pandemic, and with MSMEs serving as the backbone of the economy, it just makes perfect sense that cloud computing is a key solution towards achieving not just business continuity, but our economy bouncing back better,” Stitch Chairman Eusebio H. Tanco pointed out.
Business as usual
UNPERTURBED by the unprecedented crisis, the Tanco Group has remained steadfast to survive as a business and stay relevant by helping others to also prevail in these trying times. Hence, Stitch came into being.
“IT has always been something special to us. We’ve always done IT to make things better for us,” said Stitch Chief Executive Officer (CEO) Jaeger L. Tanco.
Prior to the pandemic, the Group saw the potential contribution of both cloud computing and data science to the advancement of the entire local IT industry and enterprises through BCP. In fact, its very own STI network of schools has pioneered the offering of data science-related courses in the tertiary level nationwide. Likewise, it made strides with the launch of PhilCare’s Artificial Intelligence-powered HeyPhil app a few years back.
“Integrating our businesses into having one IT backbone aided by data science and cloud computing is important because it enables us to become more efficient in our operations and provide the best customer experience possible,” noted the company’s chairman.
After seeing how being a technologically driven organization works internally among its member-companies, especially in these trying times, the Group has realized that it’s timely to kick off its foray into this space so as to help others, especially the MSMEs that have been greatly affected by the recent natural disasters and the ensuing health crisis.
“I think now is just the perfect time after planning everything and, of course, getting the right people in it that we’re confident to launch this and share it with everyone,” said the CEO.
Stitch primarily offers cloud computing solutions, such as Amazon Web Services, SAP consulting services, and IT services such as website and app development and management, as well as IT support and enhancement of day-to-day operations. It currently serves various clients in the health care, insurance, legal, and memorial service industries, among others.
“Our financial health as a country suffered this pandemic given that MSMEs function as our main economic lifeline. Through cloud computing, we want to give these businesses a shot in the arm, so they can get back on their feet the soonest and not just survive, but thrive,” he stressed.
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