Recommendations for organizations after COVID 19

Accounting and Finance.

• Cost reductions activities & check the possibilities of variable pay instead
of fixed pay
• Daily/monthly contingency fund, even in loss season
• No compromise in credit policy
• Find gaps, impacts created in Fund management (cash management)
and take steps to increase cashflow
• Technology adoption/Cost-cutting activities to face the next disaster
mainly accounts department
• Start contingency Reserve
• Cash is king in business, focus on more liquidity options.

Culture & Vison:

• WFH culture – identify areas and consider even in normal business periods

• Business Introspection - Self assessment in each business areas.

(Functional areas)
• Concentration on resilience business model
• Short term, medium term, long term vison setting –
Short term- 1.5 years: survival, actions to achieve BEP, unused assets sell
off
Midterm – [1.5-year -3 year]: Innovation adoption in all areas, Complete
dominance
Long Term -Above 3 year: R&D department development, Adoption of AI

Customer relationship Management

• Stakeholder’s relationship management & network building
• Talk to customers and get their expectations in this scenario
• Check is there any new demand from customer and can we solve that
with available capabilities

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Gov Regulations
• Schemes published by govt./bank which all applicable to us
• Insurance coverage of loans, building, stock, machines, and all other
possible areas
• Financial policy changes and its impact on concerned industries

Human Resource Management.

• Efficiency/resources utilisation (employee, asset)
• Acknowledge employees
• Online Recruitment Strategy development

• Orientation session to employees about the changes in market and its

effectiveness
• Employees to be made aware about our status and our way forward
• Prevention mechanisms to be continued
• Variable pay structure to be developed instead of fixed pay
• Find out which all areas in our organisation can be converted to WFH to
reduce cost and also to attract talents.

Marketing
• Find new income generation sources
• Low margin high volume business pricing
• Think about adopting new marketing strategy: Digital marketing, social
media & Online channels
• Look at the competition: Market trend, Customer demand, Competitor
strategy
• Utilization of social media marketing & more spend on social media
marketing
• Study current market price and consider price revision if required
• Status of competitors - what are they doing now, how far they are
affected, are they affected or not, have they adopted technology
• Competitor movement study at least for 3 months
• Finalize and use USP of our organization for marketing
• Marketing Smartly -Low budget highly efficient marketing

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Operations
• Find gaps, impacts and actions for internal operations efficiency
• Lean management Operations management

Sales
• Always have B plan for suppliers and customers
• Sales schemes for increasing turnover

•How far our customers or end users adapted technology – need to

understand it
Supply chain management:
• Supply chain restructuring

Technology /Research and Development

• Importance of technology integration &Technology adoption in all areas
• Maximum automation of processes

Negotiation as an Important Business Tool:

• Explore the possibilities to negotiate with the customers, suppliers and
other stakeholders at this moment and redefine business terms.
• Use agreements and documented policies for all transactions in business
to minimize risk.

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