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News

COVID-19: How to effectively mitigate the impacts of the pandemic on your business?

16.03.2020
Company: Deloitte

The Czech government together with other countries is adopting unprecedented measures to prevent further spread of the new coronavirus and collapse of the healthcare system. This naturally entails various restrictions that have a significant impact not just on our daily lives, but also on the operations of most organisations and businesses. An increasing number of employees stay at home due to quarantine or taking care of their kids whose schools have shut down. The situation gets even more complicated because it is not yet clear how long the measures will last or how extensive they will be. Unfortunately, the only thing that is clear is that as a result of global economic ties, the impacts of the crisis will be felt by many companies.
 

Regardless of how the situation develops, action steps have to be taken now to help mitigate the impact of COVID-19 on your company and prepare it for further crisis developments.
 

What are the essential steps in the current situation?

1.

Wherever possible, set up home office, and enable your employees to work actively from home

 

 

Join our webcast on 18 March 2020: Home Office in the Time of Quarantines
Please accept the invitation to our online webcast focused on the practical aspects of introducing home office and set-up of work from home from the tax and legal perspectives. The webcast (in Czech) is free of charge and you can register by following this link.

 

2.

Assess the impacts of the pandemic on your organisation from the operational and financial perspectives

3.

Manage cash flow across the supply chain

4.

Address the impact of the pandemic on obligations arising from contracts with your business partners

5.

Address key risks and ensure business continuity

 

How to reduce the impacts of COVID-19 on your business: overview on our website

Our special website contains an overview of key steps that need to be taken in order to mitigate impacts of the pandemic on the operation of your organisation. It also contains individual recommendations with contact details of our experts who will be happy to help you navigate through specific measures in accordance with the needs of your business. We will be updating the website regularly and will be adding additional information on an ongoing basis.

 

We find ourselves in the time of a pandemic, a time when the economy and businesses will suffer a heavy blow. All this will test the ability of companies to react adequately, the readiness of their processes and their overall resilience. Deloitte will support you in this respect – we are ready to help you mitigate the negative impacts of COVID-19 and contribute to making sure that we all get through these difficult times as successfully as possible.

I wish you strength and good health!

 

 

Diana Rádl Rogerová
Managing Partner of Deloitte Czech Republic

 

Webinars instead of seminars!

We have prepared a special webcast titled Home Office in the Time of Quarantines and Other Questions, which will take place on 18 March 2020. We are also working on a webinar for school headmasters and teachers on the topic of “Online Education in the Time of Coronavirus”.

Follow our website where additional online seminars will be regularly added.

 

Up-to date information on dreport.cz

We keep monitoring the situation and react to current measures.

All substantial changes and further developments of the situation including practical steps that need to be taken to set up work from home and meet all your obligations are noted on our blog in a section dedicated to the coronavirus.

Tags: Economics | Business Development | R&D |

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