COVID-19

During these uncertain times and rapidly changing circumstances in which we find ourselves, we want to reassure all our clients that we are operating as usual and continue to be available to you should you need us.

Like many of you, we are concerned about the effect of COVID-19 on our staff and are therefore taking precautions to mitigate the risk of COVID-19 impacting our business.   

We’re closely monitoring developments on a daily basis and, should the government decide that businesses need to work remotely Invicta has the systems in place to do just that and we are working hard to ensure that we maintain a high-level service to our clients whilst ultimately safeguarding the wellbeing of our staff.

YOUR BUSINESS

It’s understandable that you are concerned about your business during these times and below we have laid out some items that we believe are key to ensuring your business remains both robust and resilient enough to navigate through these times.

Devise a business continuity plan:

You know your business better than anyone.

What are the worst-case scenarios and threats to your business in the short term? What are the impacts of this and how can you mitigate them?        

If you have thought of this in advance, then if any negative changes are felt you can move swiftly and alleviate the impact.

Perform a strategic review of your supply chain:

This is critical, you must consider what supplies you bring in to perform your service and importantly where from. You need to identify if you can you obtain your necessary supplies anywhere else and if so, what is the cost difference and how long will it take to get here?              

Plan to obtain the necessary supplies from your usual supplier well in advance, but also having a preconceived back-up could prove vital as we all know across the world key suppliers are seeing a surge in demand.

Communication:

This is what you tell both staff and customers. This needs to be concise and appropriate to minimise any misunderstanding and confusion. Detail the key points and make sure there is an appropriate escalation process for any responses.

Alternative practices:

Depending on your business model you be required to meet clients face to face. Can you do this over the internet in a conference call for example. Today’s technological age means there are many ways to communicate.              

Can you work from home and continuity of operations not suffer? This may be a good plan to consider, have all areas covered should you need to so that you don’t waste time if the need arises.  

Conclusion:

Ultimately the message we are conveying is that you need to be proactive and not reactive. Consider all your options and put the plans in place with the relevant competencies and recovery processes.

As we have alluded to earlier in the article, we have all these processes already in place to ensure our business continuity, if you need any help or advice please do not hesitate to contact us on 01624 672358 or email us at info@invicta-accounting.com.