Amid COVID-19, organizations are highly focusing on business intelligence areas like Sales Channel Optimization, Supply Chain Optimization, and Customer Success. But, the threat of COVID-19 has created an urgent need for a crisis management team with new-age business competencies.
Though companies have contingency plans for pandemics like COVID-19, leaders need to prioritize the projects and workloads to ensure business continuity and stability. However, the need of the hour is to create a strong crisis management team that will devise and support new-age business continuity strategies.
Enterprises are taking immediate actions to safeguard mid-and long-term results. In order to do so, they need to have a strong Business and Corporate competencies skilled in areas:
- Financial Analysis
- Supply Chain Intelligence
- IT Infrastructure (Cloud and remote work solutions)
- Customer Support
Predicting potential business challenges and putting forward actionable recommendations are the ideal competencies of a traditional crisis management team. New-age crisis management will incorporate competencies that can track potential business opportunities to capitalize in this situation and ensure winning new deals.
Facilitating infrastructure support for remote working:
Technology leaders such as CIOs need to ensure the enterprise infrastructure readiness for managing the huge spike in demand due to remote working. Companies like AutoDesk have come up with a self-service toolkit for employees to quickly set themselves up for remote working.
Avoiding manufacturing/supply chain disruption:
Having a dedicated team for addressing the supply chain gaps will be crucial to ensure seamless deliveries and business continuity.
Creation of a backup financial plan:
Financial leaders are performing scenario planning and financial modeling for potential impacts as they seek to estimate the effect of the outbreak. Companies are also shifting/stalling investments in the face of temporary and potentially permanent changes in some business models.
Facilitating Customer engagement and Sales Enablement:
A clearly drafted FAQ document published across multiple digital channels, including the company’s website and social media, can prove to be a useful tool to proactively address customer concerns. Enterprise sales teams are also building an opportunity monitoring teams to actively identify sales opportunities and capitalize on them.
Pandemic Command Center:
Enabling rapid decision-making, providing top-notch event monitoring and reporting, and facilitating cohesive enterprise communication is vital. A Pandemic Command Center managed is highly vital for enterprises to enable rapid support and decision making even if it requires deviation from standard policies and procedures.
Working closely with partners:
Enterprises are developing a thorough understanding of their critical solution/service partners, and their resilience programs, and develop alternate plans.
Draup’s opportunities monitoring team is continuously delivering valuable COVID-19 opportunity signals to some of our clients on a weekly basis in modules such as weekly alert dashboards, nano reports, and quick alerts. Analysis of such signals is helping our clients to stay ahead in identifying dynamic sales enablement opportunities to achieve a competitive edge during COVID-19.