The Hackett Group has released a new report offering companies guidance on how to respond to the global pandemic.
The global coronavirus pandemic has produced a humanitarian crisis unlike anything we have ever seen, with sudden and dramatic disruption across all industries and markets. One thing is clear: companies must respond effectively moment to moment as they receive insights with each news cycle. They must also be prepared to act swiftly and
aggressively to counter each disruption and protect their most valuable assets, while anticipating the next turns and moves ahead.
The five essential actions that follow can yield a significant, positive impact in the near term. These actions can also be catalysts for meaningful performance improvement in the longer term as crucial first steps to close the performance gap.
In fact, top-performing companies operate at 57% less cost, which, for a $10 billion organisation, equates to approximately $200 million in cost savings from general and administrative (G&A) efficiency alone.
The report focuses on best practices for how companies can:
- Protect employees – and keeping them informed and engaged
- Defend financials
- Safeguard supply chains
- Preserve cash
- Fortify technology infrastructure
Read the full report here.