Inspiration
The idea arises from the global emergency caused by the COVID-19 crown virus pandemic and the fact that all countries are affected. It is true that the first concern is the health of the entire population, but economic activity is often left in the background. The health problem can be solved in months, but the paralysis of economic activity due to the lack of continuity plans and emergency measures for SMEs means that the economic consequences are as serious as the health consequences and last much longer, affecting much more of the population and reducing the purchasing power of the most fragile sectors of the population.
Because of this, we decided to develop an early warning and prevention system for SMEs that puts the diagnostics and tools in their hands, in the same way that large corporations have them. In this way, we can first classify the SMEs according to their vulnerability, apply measures and recommendations for improvement and business continuity management and finally, when this emergency or pandemic occurs, we can apply the scarce resources available to central banks, governments and public administrations to alleviate the effects more efficiently.
Only in the European Union there are about 23 million SMEs that support 75% of the workforce, so the availability of a tool that monitors the preparation and status of these companies in real time before situations involving discontinuity can be a definite factor in mitigating the economic consequences of such situations, reducing the impact by at least 40%.
What it does
The solution is to have a big data analytics platform that permanently monitors SMEs and detects their vulnerabilities and helps them to improve their contingency and business continuity plans by evaluating their risks and monitoring them, suggesting how to improve them.
Based on this we can point out that the main stake holders would be three, the SMEs themselves, the financial entities such as banks and insurance companies and the governments, central banks and public administrations
Our innovation is better than other existing alternatives because:
1.- Personalized and for any size of company. The implementation of this type of business continuity and risk assessment policies only exists in large corporations, there is nothing at the level of the SME and if there is, it is absolutely generalized by type of activity. Wenalyze would transform this by innovating and making it achievable for any company regardless of its size, in a way that is personalized to the business and if almost effort
2.- Real time and effortless for the SME. Monitoring is done continuously so that the information is always available to the different stake holders. Furthermore, it is not necessary for the company to complete all the information but rather it is obtained in most cases from what is available online.
3.- Segmentation and classification. Up to now the solutions, if any, are general, ours allows the segmentation and classification of all the companies, so we do not have to apply general policies but particular cases
The time has come for innovation, since it has been demonstrated that despite the importance of the SME fabric in all countries worldwide and its weight on the economy and employment, they are the most affected in situations of pandemic crisis
How we built it
The procedural information of the Wenalyze software-as-a-service is then developed, with which we improve the quality of the information of the companies working with our system. All our systems or modules are integrated using the internet services of the Amazon Web Service provider. In order to understand the whole procedural map, it is necessary to know each and every one of the sections through which the information is processed or treated. The platform for the user The user has an interface from which it manages its information, this interface is developed with the framework IONIC v3 using languages such as Angular 6 with TypeSctipt layer, HTML 5, CCS3 with FlexBox, which does not provide for functional programming of the client environment as this type of programming is hybrid, a priori would only be developed in Web format, but then there is the possibility without modifying the code or increase workloads in programming the client environment to have both applications for Android and applications for IOS. This client environment is hosted on the Amazon EC2 service (Amazon Elastic Compute Cloud), an NGINX server, which can increase/scale the power of the server depending on the client load. Information loading Companies have information but do not make scientific use of it, so the first part of the process to use our service is loading the company's information into our platform.
Challenges we ran into
New and resilient business models in Business Continuity
Accomplishments that we're proud of
the model is able to predict the business continuity capacity of SMEs in an automated way by simply entering the name and address of the company
What we learned
The collaboration and the exchange of ideas of the participants in the hackathon to face the challenges of the crises like the one we are living
What's next for Wenalyze Covid19
Not only predicting which companies will emerge strengthened or not from the crisis but also the capacity to improve the business continuity of SMEs in the long term as for example those for the next pandemic crisis that unfortunately are foreseen for next winter in its second wave
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