ISSUES BUSINESSES ARE FACING
As businesses persevere through the economic slowdown, management will be faced with many difficult decisions in the weeks to come. Those will include decisions around workforce, capital allocation, and investment in innovation. Many organizations will need to determine which of its businesses, products or service offerings warrant continued investments and which ones do not. These are some of the questions that management should be asking themselves:
Although urgency and decisiveness will be needed, an organization cannot lose track of the long-term implications that each decision will have on its business, culture and mission. In these unprecedented times, it will be important that management’s decision-making process is based on objective, detailed data and involves a team with insight across the entire organization.
Prior to the COVID-19 Pandemic, studies have shown that up to 30% of a company’s products or customers may be unprofitable, according to profitisle.com. We provide in-depth profit mapping and analysis to unearth the true profit drivers and expense burdens of a company. A quick identification of less profitable business will allow a company to take short term steps to reduce losses and negative cash flow from these identified operations. We can provide: