More than a harbinger of a new world, the crisis reveals the urgency of accelerating transformations that have been underway for several years but whose integration into models is still partial.
Accelerating implies acting on both the short and the long term. Today, we are addressing the short term:
#1 - Realigning goals and priorities
#2 - Improvement of Front Office systems
#3 - Improvement of Back Office systems
#4 - Governance review
"New world" or acceleration?
The effects of the COVID-19 crisis will be profound for our economy and our society, but this crisis will probably not be the revelation of the "new world" dreamed by many. The crisis seems to be more of an invitation to all stakeholders to significantly accelerate the transformations that have been underway for several years but whose implementation has been slow.
This particular period confirms the intuitions, emerging or expressed, but not always implemented in a proactive and complete manner. The crisis has effectively demonstrated the extent to which we all share the same environment and are intimately interdependent in a fragile world that we must collectively take care of. It has affirmed the place of business as a full-fledged component of society. A sense of action has become key to navigating a changing ocean. If this sense differs from one company to another, this situation invites everyone to take responsibility, as expectations are so high on the part of employees, customers, suppliers and shareholders. Everyone, in their own role, will be attentive to the societal, ecological and ethical impact.
Each company will have to revisit its strategic plan with the opportunity to integrate more sustainable performance, which does not mean less performance. A number of companies have postponed their strategic planning. How can they plan for three or five years ahead when the year-end forecasts are so vague? They are taking advantage of this "strategic moment" to analyze and draw conclusions from this new situation, even if it means questioning certain certainties. We will detail these plans as we go along in our communications.
In this newsletter, we share with you the short-term issues currently being examined by most financial institutions. Because, in order to think about the future, it is essential to free up some room for maneuver.
Beyond the race to recover activity and the arbitration of a certain number of costs, the short-term transformations are aimed at seeking efficiency and improving the operations highlighted during this period.
#1 - Realignment of objectives and priorities
The 2020 plans have been disrupted by the crisis and must be adapted in terms of objectives, leadership and alignment of all:
What adaptation of the development policy
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