With a surge in Covid-19 cases expected in the coming weeks, the continuing social distancing measures are the next step in what will be an extensive program of increasing restrictions across Ireland.
Rapidly implement flexible working capabilities
Business operational models need to be adaptable to change in tandem with increased restrictions set by the government.
This will allow an opportunity to seriously enhance your flexible working capabilities; not only for the short-term, but also to meet future requirements.
Business leaders need to provide the tools and frameworks for their businesses to utilise collaboration platforms such as Microsoft Teams, Skype, GoToMeeting and Zoom.
If you don’t currently provide these tools to your business, you need to assess the best tool for your requirements and develop an implementation plan now.
Build that Dashboard now
Being able to clearly monitor financial performance and cash flows will be critical over the next six months and beyond.
Management teams will need to pay particular attention to obtaining timely and accurate financial information in order to recognise any reduction in financial performance and implement corrective action in a timely manner.
As businesses consider new ways to manage and operate, it is more important than ever to focus on establishing data driven decision making.
Leveraging existing data and creating an environment to collate, sort and report will enable you to understand the overall position of your business. If your business is faced with sharing large, complex spreadsheets to determine performance; now is the time to make that investment in a single Looker, Microsoft Power BI or Tableau dashboard.
Update your Digital Services or Online Strategy
The next few months are going to highlight the importance for businesses to have the ability to deliver goods and services through digital means. If you have a digital service strategy, spend some time refining it. If you don’t have a strategy, now is the time to prioritise putting one together.
As a starting point, spend some time understanding what digital services you currently offer and what your customers want. This will help to identify the gap you need to fill.
Use IT as a market differentiator
Unfortunately we are already seeing businesses whose systems are unable to cope in a socially distanced environment struggle. On the other hand, Innovative businesses who successfully implemented ways to keep operating in an increasingly restricted society by use of technology in areas like Digital Assistants and Workflow Process Automation are coping better.
How can we help?
Now is the time to consult your IT advisor to help your business withstand these tough economic times. At BDO Eaton Square, we have an experienced team available to listen to and discuss your needs. Get in touch today by contacting:
BDO Eaton Square