How should GBS organizations be responding to coronavirus and what are the 5 essential actions to take now? Read the perspective of our ABSL Strategic Partner, The Hackett Group.
Responding to coronavirus pandemic:
The global public health and economic crisis triggered by the outbreak of the global COVID-19 coronavirus pandemic has created an unprecedented set of challenges for organizations. Many governments have enforced restrictions on people movement and work from home has rapidly become the norm for many office workers.
This is a guide for global business services (GBS) organizations on how to respond to the unfolding events following the worldwide spread of the coronavirus. Many GBS organizations will have activated business continuity plans. However, most of those are designed to cope with short-term, localized disruption of business activity. This guide covers both the immediate actions GBS are recommended to take as well as an overview of emerging actions observed by our Advisors in working with our members. We will update this guide as and when new information becomes available.
Read more on the GBS coronavirus response imperatives such as crisis leadership, service continuity, risk management and more in this Global Business Services Guide by The Hackett Group.
Five Essential Actions to Take Now:
The global coronavirus pandemic has produced a humanitarian crisis unlike anything we have ever seen, with sudden and dramatic disruption across all industries and markets. One thing is clear: Companies must respond effectively moment to moment as they receive insights with each news cycle. They must also be prepared to act swiftly and aggressively to counter each disruption and protect their most valuable assets, while anticipating the next turns and moves ahead.
The five essential actions that follow can yield a significant, positive impact in the near term. These actions can also be catalysts for meaningful performance improvement in the longer term as crucial first steps to close the performance gap. In fact, top-performing companies operate at 57% less cost, which, for a $10 billion organization, equates to approximately $200 million in cost savings from general and administrative (G&A) efficiency alone.
The Hackett Group is a thought-leader in Global Business Services (GBS). Founded on research and insight develop through their GBS Advisory program The Hackett Group have established a market leading position and are a trusted advisor status for many leading companies.
Visit https://www.thehackettgroup.com/ for more details.
The Hackett Group & ABSL Czech Republic