The Economic Uncertainty Survival Guide: 3 Testing Strategies You Need
How can companies continue to deliver advanced digital products while facing shrinking budgets, fewer resources, and shorter time to market?
Like storm clouds gathering over the horizon, economic uncertainty casts a dark shadow of unpredictability over businesses. From geopolitical events to unusual market fluctuations, the business landscape is full of obstacles that can cause decreasing budgets, shortened timelines, and fewer resources to rely on.
Let’s explore the 4 most common causes of economic downturns.
Market fluctuations
Supply and demand ebbs and flows. As consumer trends shift, the need for certain products and services shifts alongside them. Whether your company is in the finance, healthcare, publishing, retail, or real estate industry, the market can change rapidly and business leaders must be able to adapt accordingly.
Geopolitics
Political strife, regional conflicts, and regulatory oversight can disrupt the global economy. When this happens, international trade can slow down and negatively impact supply chains, cause inflation, and harm investor confidence.
Changes in policy
As governments monitor their economies, they often make changes to tax rates, industry regulations, and public programs. These changes can affect how corporations operate, leading to increased uncertainty.
Global events
Extreme weather events or health crises cause a ripple effect around the world. As public officials and business leaders grapple with the outcomes, rebuilding efforts can take time, slowing the global economy.
Yet even as markets change, political strife disrupts trade, and extreme weather takes its toll, consumers still expect - and demand - digital payments, cyber threat protection, mobile gaming, inventory tracking systems, and more.
How can business leaders mitigate the effects of economic instability while continuing to deliver high quality software and digital services?
That’s where test management comes in. A sophisticated test management solution can help companies adapt to changing market conditions quickly and effectively by providing a structured approach to quality assurance.
Here are 3 testing strategies companies should implement:
1. Employ automation
Leverage automation tools to complete repetitive testing tasks faster and perform tests that are time-consuming or prone to human error. Automation eliminates the need for human intervention, freeing up your team members to focus on other critical areas of testing. Productivity and efficiency increase and can lead to faster software delivery.
2. Focus on flexibility and adaptability
When the world’s economies are unstable, project requirements can change at any given moment. Adopting Agile methods in your software testing allows your team to respond to changing requirements quickly. Just as important, you’ll be able to coordinate with other stakeholders in a transparent manner and adjust test plans and project goals accordingly.
3. Dig deep into your data
Know the status of your project at any given moment by utilizing dashboards and real-time reporting tools. Granular reporting options allow you to slice and dice your testing data. Dig deep and use those insights to apply data-driven decision making.
A better way to optimize and improve software test management is with a dedicated test management platform. These solutions combine all testing activities into a single centralized hub with real-time reporting and AI-powered capabilities.
From test planning to execution, to tracking and reporting, advanced test management platforms help companies identify bottlenecks, track important QA metrics, and enable data-driven decision-making to improve testing processes.
The result? Increased efficiency, higher productivity, and more reliable software products.
By following these testing strategies and implementing a sophisticated test management platform, companies can better navigate economic challenges while continuing to deliver the high-quality software their customers expect.