Discover our Top 5 Recommendations to Drive your Business Towards Economic Security
Since the middle of March 2020, the world economy has been charting a very uncertain course and finally, the storm has started to ease. At the peak of the crisis, businesses were driven into emergency mode – with little room to manoeuvre. Now that room to manoeuvre is growing again, businesses must grasp this opportunity to accelerate their recovery whilst also implementing measures to protect themselves from any future pandemics.
The key task for a business is to increase their resilience in the recovery phase. To understand how the recovery phase will look specifically in each sector, we can use other countries to give an indication. China, for example, is 2 months ahead of most other countries around the world. There, it can be seen that one month after the end of the lockdown, 90% of automotive businesses were active again – however, only 70% of textile businesses were and only 40% for catering businesses.
The reasons for the decline in sales vary between sectors as trade is strongly affected by a collapse in demand. In construction and chemical industries for example, they are especially affected by supply bottlenecks and shortages.
When the Corona crisis first hit, the main focus for businesses was to maintain their supply chains in the short-term. Now, as businesses attempt to compensate for the negative effects caused by the crisis, focus is increasingly shifting to cost and efficiency issues.
Download our full white paper today which examines how businesses can optimise their costs and improve their operational efficiencies in order to help protect cash flow whilst strengthening supply chains. The white paper also reveals our Top 5 Recommendations for accelerating your business towards economic security.
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"Businesses are currently facing two major challenges. First is the management of negative economic effects caused by the Corona crisis; and second is sourcing the workforce needed to rebuild a business."
What’s Inside the White Paper
The Corona crisis was a driver of digitalisation. At the start of the crisis, many businesses implemented operational short-term solutions under high pressure. The main aim here was to secure their operational processes, however, many of these solutions are not sustainable in the long-term. To accelerate recovery, businesses have to consolidate and professionalise these new processes, from modernising IT structures to training employees to optimising processes.
Process Optimisation and Digitalisation are examples of our top 5 recommendations for accelerating your business towards economic security. Download the full white paper today to explore our full range of recommendations which can help you to protect your cash flow and safeguard jobs.