The entire world is united in facing a new reality of quarantining and remote work as we collectively go through the COVID-19 pandemic. However, there's one thing that all of us in business know: the show must go on. Your clients still need your expertise and advice, arguably now more than ever. As a firm, you still need to provide the same level of service, with much fewer resources. Here’s what we’ve seen from our clients thus far:
- Staying connected is crucial. The biggest thing that became clear with this pandemic is the need for video communications, and the ability to remain connected. If your firm didn't have the remote working tools in place for internal/client communication, this likely has been a fight or flight period of quick assessments. But it is a great time to assess or reassess your virtual communication tools.
- A digital front end has never been more of a priority. While the majority of firms out there today have started to make a move to becoming digital, this pandemic has brought to light potential areas of improvement. Excel spreadsheets and PDF libraries that were often the foundation of processes are static or outdated and slow down operations. Mailing your end clients anything doesn't seem safe. (COVID-19 can live on cardboard for up to 24 hours). On top of that, the status quo of incumbent technology is similarly to what developers would call “Spaghetti Code”. All in all, businesses must adapt and reverse-engineer their client and business needs into robust solutions that address these while sitting on your side of the table.
- No country was ready for a pandemic. And neither was any company's business continuity plans. And, to be frank, as a firm, how could you have anticipated this? As every news source keeps reminding us - these are unprecedented times. As a community, we're all going through this together. COVID-19 is something that, unfortunately, no one smarter than us has an answer for right now. But there is one thing to consider: Sir Winston Churchill is credited with first saying, "Never let a good crisis go to waste." Now is a great time to revisit and revise your business continuity plan & find your gaps.
The truth is that, with current events, these insights change weekly, if not daily. But, one thing we all know for certain is that once we are able to get back into the office and meet face-to-face with our clients, we will all have a different appreciation of what it means to do business. And in the meantime, now is a great time to reassess your strategic objectives, your technology stack, and focus on how you will be more prepared in the future.