How to Respond to the Impact of the Ongoing Crisis
CFOs are playing an integral role in responding to the impact of the coronavirus pandemic – a crisis that took everyone by surprise. We’ve all been forced to embrace remote work on short notice, and for many, it’s been a difficult transition with some surprising benefits, such as decreased costs, greater productivity, and more efficiency amongst employees. During the coronavirus pandemic, CFOs have been dealing with various priorities:- Forecasting cash collections from the latest sales and collecting payments
- Reviewing options to raise capital, such as leveraging available lines of credit
- Communicating with investors and the board of directors frequently
- Assessing all potential scenarios that may impact the company’s finances
- And much, much more
- 74% of CFOs have plans to move previously on-premises employees to remote work post-coronavirus.
- 81% of CFOs plan to exceed their contractual obligations to hourly workers via remote work to offer flexible schedules.
- 13% of CFOs have already cut real estate expenses with another 9% planning to do the same.
Remote work is here to stay
It’s clear… Remote work is here to stay. But what else do CFOs need to be doing right now to prepare for the future? Technology has proven to be vital in times like this. CFOs must work to improve their digital capabilities to stay ahead in a world of social distancing that creates:- Disruptions throughout supply chains
- Changes to purchasing behaviour
- Less traffic within physical locations
Technology must become a top priority
It’s been said before that every company is a technology company. Why? Because every company needs technology to make, market, and sell their products and/or services. This is especially true now that we’re all embracing the concept of social distancing, and in turn, the internet has become an even more important resource when it comes to acquiring products and/or services. It’s time to digitize your business, and in particular, your remote work strategy to make sure you’re operating as efficiently as possible. Automation, for instance, can help you cut costs and boost productivity, while in turn, offering a buffer from having to shut down in the event of future disruption. Start digitizing your business to stay ahead in a post-coronavirus world. Call (201) 796-0404 for more information.Information Technology Aligned With Your Business Goals?
Baroan is a complete IT services & IT support company working with organizations in Elmwood Park and across the United States of America.
When it comes to IT services and solutions, you need someone who not only comprehends the IT industry but is also passionate about helping clients achieve long-term growth using proven IT solutions. Guy, in leading our company, is committed to helping clients improve their technology in order to develop a competitive edge in their industries.
At Baroan Technologies, Guy Baroan leads a team of dedicated professionals who are committed to delivering exceptional IT services and solutions. With his extensive expertise and hands-on experience, Guy ensures that clients receive the utmost support and guidance in their IT endeavors. Trust in Baroan Technologies to elevate your business systems and stay ahead in today’s competitive landscape.