It’s safe to say that there were very few businesses that would have been prepared for the impact Covid-19 has had on their team, operations and revenue. In just a few short weeks in March everything changed so dramatically and so quickly that it was extremely difficult for finance teams to be able to plan, manage and navigate through it.
- Topic:
- Finance
You’d be hard pushed to find a sector that hasn’t been affected by the widescale disruptions of COVID-19, but for the financial world, the effects have been far greater than most.
From the large hit the global economy has taken due to a world in lockdown, to largescale supply chain disruptions and the subsequent closure of many businesses both temporarily and, in some cases, permanently, the finance sector has certainly been left shaken.
Now, as lockdown measures are slowly starting to lift in the UK, it’s clear the world as we knew it before will never be the same again. Of course, no one can be certain what the full fallout of the current pandemic will be, but here are a few thoughts on what could be in store for the world of finance over the coming years.
- Topic:
- Finance
COVID-19 has thrown business continuity plans into the spotlight and, in many cases, has revealed glaring holes in them.
As lockdown eases and recovery plans slowly start to kick-in, we will soon find ourselves in the ‘lessons learned’ phase, looking back at the way our businesses reacted to the pandemic. As a result, it is likely that more of us will adopt an ongoing continuity plan to help make our operations more agile.
For finance teams across the country, I would certainly expect that cloud accounting will play a pivotal role in those plans, helping to protect businesses and spot key touch points to boost the numbers during ongoing challenging trading conditions.
- Topic:
- Finance
The coronavirus has forced many charities to cancel activities they were counting on to raise vital funds and reach new supporters, leaving a potential £12.4 billion shortfall in income for the year ahead[1].
- Topic:
- Not For Profit
After three months of enforced closure to help stop the spread of Coronavirus COVID-19, pubs, bars, restaurants and hotels, have been given the green light by the Government to re-open in July.
This is welcome news for hospitality businesses who can bring valued staff back to work, serve customers and – crucially – make some money again.
However, restrictions around the way restaurants, pubs and hotels are permitted to operate, means the prospect of trading again may also be a daunting one, particularly for independent hospitality businesses.
- Topic:
- Hospitality
Since the lockdown struck, we’ve been spending more time catching up with people through video calls than ever before. Whether this is ‘happy hour’ quiz nights with friends, virtual workouts, checking in with family or other recreational activities to keep us connected - and that’s before considering the sheer amount of virtual facetime put in during meetings at work.
- Topic:
- Human Resources
Hindsight is a wonderful thing. Unfortunately, when you’re in the middle of a global pandemic it’s a luxury we do not have. But as the sector starts to shift from ‘crisis’ to ‘recovery’, the time has come to take a breath, reflect on recent events, and start thinking forward.
On the 23rd June, CAF published a new report highlighting the impact of COVID-19 on the charity sector. An important snapshot of an unprecedented time, we are pleased to share our key learnings with you.
- Topic:
- Not For Profit
Webinar on Wednesday 1st July to Demonstrate the Benefits
Following the Prime Minister’s announcement that hospitality venues can open from 4th July, subject to meeting various safety measures, Access Hospitality has reassured operators that technology is already available to manage some of those controls placed upon them. In addition to existing assistance, the leading sector technology provider will host a webinar on 1st July to demonstrate the depth of support available through technology.
- Topic:
- Hospitality
The past few months have seen more charities launch an emergency campaign than ever before. Last week, we shared three that caught our eye. This week, we want to think about the lessons we can learn - so here are our 7 top tips for running a successful emergency campaign, with examples from Access Charity Website platform clients:
- Topic:
- Not For Profit
Spotting opportunities has always been an important role of the finance team. Even in the face of an unprecedented event like Covid-19, where safeguarding the business to protect the operation, jobs and long-term viability is the number one priority - a good finance team should always be able to balance its responsibilities.
- Topic:
- Finance
