COVID-19 is both a bad & good news story.
COVID-19 destroyed many business norms and threw the economy into never-before-seen chaos. Many companies did not survive. Many did survive however, by employing survival tactics & techniques specifically suited to the challenges & concerns they faced because of COVID-19. This is the bad news side of the story.
The good news is that these survival tactics & techniques can be expanded and refined and employed successfully in a post COVID-19 environment where new business norms must be created. Learn the lessons from COVID-19 and leverage them to create a new progressive business environment. Many of the survival actions taken can become standard practice with great benefit.
We now face the challenges & concerns of COVID-19 in a progressive rather than survival mode. The economy will never be the same. Technology, so artfully used and advanced during COVID-19 must now rule the day. Many advancements have been made to connect people, activities, and events during COVID-19. These advancements can now be used to create new progressive norms.
COVID-19 forced employees to be deployed to remote locations usually the home. This “work from anywhere” or WFA was the norm during COVID-19 to which companies adjusted for survival. Advanced technology was created to connect people, activities, & events in the WFA environment. Employees and employers are now both critically looking at WFA as the new business norm, at least partially. It in many cases is more cost effective which enhances profits. Many employees are suggesting a reduction in salary to continue the WFA environment.
How do we deal with all these dynamics? We must Re-Imagine Finance & Accounting in the wake of COVID-19. This requires a Re-Imagine of processes, procedures, organization & controls. Re-Imagine is not thinking outside the box it is creating a whole new box in which to operate enabled by advance technology. One of my Webinars n Demand is about how this can be done.
I have added to all my webinars the challenges & concerns of COVID-19 to aid in the creation of new business norms created from the lessons learned in COVID-19.
