Revenue Recovery and Cost Control post COVID plans

Posted by Gurmeet Judge on Jul 13, 2020 4:50:51 AM

Almost all financial reporting for Q1 and Q2 this year show that earnings are way down, companies generated very minimum revenue during for past two quarters.

 

As businesses starts to re-open and productions are almost back to normal level, most business leaders are searching for ways to make up for the lost time. Businesses must generate planned revenue for 2020 in less than 6 months, which translates to increase in production to meet corporate goals.

 

During this high-pressure time to meet production and revenue goals, business leaders have two key challenges to overcome:

  • Develop and Implement business Process innovation and continuity are key to maintain high production levels.
  • Lean operations: keeping operational cost lower with increase production will enable leaders to meet revenue goals

Here’s 3 tips to help you with meeting your business goals

  • Business Risks: During highly critical time to maintain production level, any business interruption will cause much higher financial setbacks then previously. Most business and technology risks are interdependent in business are constantly growing and evolving. Any unmanaged business risks will result in likely risks of not achieving required production and revenue levels. However, managed and lower business risks will ensure no business interruption and higher production to help organization to achieve required revenue goals. Read details on business risks here.
  • Employee Productivity: New technology innovations are driving massive efficiency gains in corporations. Companies are doing more with less in almost every area of their business. That means if you haven’t tried to improve your efficiency in a while, there’s almost certainly room for immediate improvement. Providing on-demand staff training will ensure high productivity and morals to achieve required goals and objectives. Read details here..
  • Re-align Technology Investment with revenue goals: In modern business, most business process either dependent or highly integrated with IT Process. Many business leaders now days consider developing simple plan of process improvement rather than two separate plans for both business and IT process plans. During the time when maintaining high production levels are critical, investment into technology will enable organization to achieve desire revenue goals.
 

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Topics: Productivity, Business Risks, Revenue, IT Process, Business Impact, Hard Cost, IT Strategy, Technology Cost, Covid-19, Coronavirus