A little extra than a decade just after the Wonderful Economic downturn, COVID-19 has brought back the dreaded “R” phrase to haunt executives in the world economy. The apply of social distancing to sluggish the contagion has abruptly and sharply curtailed economic activity close to the planet. Furthermore, it is turning into crystal clear that a globally economic downturn of sizeable depth emerged in the initial quarter of 2020 and might keep on for an unsure period of time.
Downturns and recessions are difficult, but some enterprises are not only able to arrive out intact, they are also able to seize opportunities to outdistance their competition and place by themselves for long term advancement. Nonetheless, the pace at which the COVID-19 crisis is unfolding might very likely demand CFOs to use new tools — virtualization and state of affairs-primarily based forecasting, for instance — in addition to the standard levers