Disaster strikes and always without warning.
Usually disasters are in the form of nature’s fury that disrupts lives, but this time, for the first time since the dawn of the digital age, the world is seeing a global lockdown of extraordinary magnitude. Both digital and physical infrastructure are intact, but a deadly virus has largely crippled the movement of people and created economic destruction worldwide.
COVID-19 has surpassed most natural disasters that many regions have ever seen. While technology is enabling work to continue in some form in some industries, businesses are gearing up for the ‘New Normal’.
McKinsey estimates a 40 to 50 percent reduction in discretionary spending, which would possibly impact GDP by 10 percent. The second-and third-order effects have not been factored in and could have a significant impact.
All the classic symptoms of a severe unplanned disaster can be seen. And the worst is that there is no clarity on when this pandemic will end and how businesses will resume at full swing.
Business leaders have a ton of questions. How do we stabilize our business? How do we manage an all-digital workforce? How do we adjust our costs? What is our near-term strategy? How do we ensure efficiency of operations, in its current ‘new normal’ state? What about ensuring quality and compliance, while some of my processes have changed? The most difficult question of all and one that probably has no answer: When is this going to end?
The purpose of this whitepaper is not offering answers to all these questions.
But, as ComplianceQuest, we’re well-positioned to help you with one of these.
And that question is:
How do I ensure Continuity of my firm’s Quality Processes and maintain my state of Compliance beyond the COVID-19 impact?
Read this whitepaper to understand the 5 challenge areas that most businesses will face and how Quality can become a lever of your Business Continuity strategy.