mega-disaster. A virus that has impacted every country, every economy resulting
into a completely different and unprecedented scenario, offering no certainty
& leaving us to struggle with the monotony of familiarity.
suddenly started facing losses, businesses are struggling to meet their targets
and the startups are struggling to just survive. Consumer demand and buying
patterns are uncertain and the supply chain is facing so many issues.
individual employee preference, everything seems to be in a state of change. Which
again brings us to face the truth, that the only thing certain in this world is
severe impact and is weakening the financial market. There is a substantial
decline in the equity and corporate bond market. People are concerned about the
counterparty risk, which is continuously drying up liquidity in the financial
market. The governments are forced to come up with stimulus package.
little hope of stability in the near future!
revert to routine life? Will everything be back to normal? But what if this is
the new normal?
importance of digitalization more than this crisis has. There is an enormous
shift from normal to e-commerce or digital shopping. Businesses all over the
world are strengthening and innovating and believe that online presence is the
only thing that will help them navigate through these tough times.
is no more an additional thing but has become the need of the hour. Your
profile is the new business card, your website is the new representation of
your business, & digital activities are the new office activities. Zoom
meetings, webinars, and conference calls are now a routine activity and not
just a weekly work from home thing. These things have now become a part of our
new routine and would continue for some more time.
grow during this phase
has become the need of an hour. Many companies can easily adapt to this based
on their delivery functions, remotely managed servers, facilities at home for
employees to have uninterrupted access to internet, access to software
application thru web along with the required hardware, Data Security in place.
Working remotely helps in increasing productivity and also saving a lot of cost
for companies in terms of real estate rentals, infrastructure and other
employers can hire anyone across the globe. So, adopting work from home can
prove beneficial for the company.
businesses can also outsource work to other companies or freelancers. This will
help in effective and efficient working. Of course, there should be enough
control measures in place.
financial goals and redesign the strategies to achieve them. Since the world is
moving towards digital, strategize accordingly.
accurate compliance without the typical cost and hassles. Compliance is a
time-consuming and ongoing process and CiB focuses on simplifying the
compliance process even for companies that are operating across many
geographical borders. Boston Financial
Advisory Group has a team that is purely focused towards startup solutions to
enable and ease the financial funtion via an outsourcing model.
Boston Financial Advisory Group. Views expressed in the article are of the author.)