FBCC Member Efficio discusses what comes after Covid-19 and how businesses should act while facing the crisis and accelerate first steps back to stability in their newest blog post.
Many sectors face severe downturns in demand during the unstable times we are facing. Fiscal and monetary support, as well as compassion between businesses and individuals, will be required to emerge successfully.
Efficio talks about a four key risks, one opportunity framework to analyse your position:
The risks:
- Employee safety, and with it the populations safety, is everyone’s current top priority.
- Client demand is shifting rapidly both in magnitude and channel, like increased takeaway food, and companies are flexing to adapt.
- Business continuity is a key differentiator for clients and requires close collaboration with your supply base to deliver.
- Financial stability to support through a period of reduced revenue, liquidity issues and challenging financing situations is key – and some businesses will fall short.
The opportunity:
- Invest in innovation – the strongest will gain market share by leveraging their business continuity and deliver both new and improved offerings to their clients as we recover.
Read the full blog post here.