Software’s role in the quest for Prosperity

Talking about prosperity has never been so important. It is vital to understand how we can thrive in the current interesting times. The last couple of years changed the way we operate, not only with the pandemic that pushed the need for working at our home offices instead of working at the office or video calls instead of meetings in person but also with the need to push for sustainable operations.

A lot has changed, and businesses need to understand how to cope with this new (and most likely long-lasting) reality. Only intelligent companies will be able to thrive. However, there are no intelligent companies without smart software. One that follows the changing speed of business and market needs with sustainable costs and delivery times.

Technology changed every aspect of how organizations do business in a fast-paced environment. In fact, software was the leading enabler for many companies to keep their business up and running during the pandemic since it transformed external and internal communications, optimized management and operations, and – most importantly – formed a new opportunity for globalization.

Whether a business has its headquarters in San Francisco, Lisbon, Berlin, or Tokyo, it is possible to attract and close deals with people or companies from countries around the world. For instance, Quidgest is based in Lisbon but has clients in about 20 countries.

In the same way, smart software also enables better management of human and material resources, creating a more profitable environment and empowering businesses to create more value to their stakeholders – by expanding their investors’ earnings, freeing their employees from daunting repetitive tasks, being able to follow their clients closely, and promoting sustainability.

By sustainability, we mean programs, products, and practices around environmental and social considerations. You might wonder why we are talking about sustainability in a prosperity article. The answer is: more and more studies and reports show that companies who pursue a sustainability-aligned strategy are more competitive.

For more than a decade, part of the corporate discourse has revolved around sustainability and corporate responsibility. Companies that issued sustainability reports and let the public know about their sustainable actions were not taken as seriously as they should. Such initiatives were seen as either a luxury investment or a public-relations device.

However, numbers show otherwise. Intelligent companies are navigating their way to a more sustainable operation because it has a tremendous financial impact. Research by Oxford University shows good sustainability, and ESG practices are related to lower operating costs, superior share price performance, and better profitability. “Companies that have combined sustainability into their business strategy are 2.5 more successful than those who have not,” according to the global CEO of Accenture.

All in all, the use of smart software is directly connected to a more prosperous and fruitful future. It promotes globalization and the expansion of operations and enhances all the key elements regarding sustainability.

This will be one of the main subjects in the upcoming Q-Day 2030 Sustainable Development Goals, which will have a panel with experts that will share how we can use technology to enhance the quest for prosperity.