No one knows how long the Covid-19 pandemic will impact our daily routines and the economy. Given the magnitude of this public health crisis, the first priority for all companies must be protecting the health and safety of their employees, customers, and community. (Resources available here.)
For finance and executive teams, your next logical priority will be to assess your company's financial health. You'll want to update revenue forecasts, review your budget, model different scenarios, and identify opportunities to trim expenses or reallocate spend. Taking action quickly will not only help you weather periods of uncertainty, but can also help your company rebound stronger than ever when the crisis passes.
Our goal at Center is to help businesses make the most of every dollar—and hour—spent. These tips will help you stay nimble and course correct by keeping a close eye on your company's expenses.