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A different point of view on the consequences of the pandemic.

A different point of view on the consequences of the pandemic.

Table of content

2020 and 2021 were years of change and therefore adaptation to a new social reality. Many organizations had to experience organizational resilience, innovating and generating new work tools that at the same time have led them to a more flexible modality but that deserves more attention and supervision.

The leaders of organizations that have successfully made the commitment to stay within the market understood that the situation only pushed them into new spaces in the market, thus challenging them to diversify and solidify their businesses. Most of them learned to generate value in uncertainty , they understood that the best ideas actually arise in the crisis.

This situation generated the digitization of organizations by introducing them to new technologies, automating processes, transforming and creating new safe and effective business models. For 2022, the consequences are many, however, few are bad depending on the angle where we are observing. Looking at it from a positive point of view, the consequences for this year will focus on:

1 . Increase in technological development focused on the operation of businesses online. Although there have been many years in which the world has been adapting and creating new digital tools that optimize the relationship between human capital, business benefit and quality of delivery to the client. These last two years have been of vital importance for its progress.

2. Increased cooperation and union as a society . We were in isolation for a long time and it has been a necessity to relate to each other, to negotiate, to work as teams. This is the reason why it is estimated that this year there will be a greater creation of companies, which will undoubtedly help improve the economy, not only because of the volume but also because of the entrepreneurship of ideas adapted to the "new normality".

3. Greater awareness regarding the importance of the Health Industry. It has always been important, but this year will be one of rethinking as a society how we can anticipate future health crises, creating new organic prevention measures.

4.  Increased self-knowledge of internal organizational processes (internal management audits). Having correct organizational knowledge will help us identify in time which processes we can change in order to minimize future significant risks. If we have learned anything this time , it has been our lack of anticipation in the face of new and unexpected events. This in turn takes up the budgetary and provisional issues of companies of any level, focusing on the creation of a Risk Management department.

5. Better communication between external and internal stakeholders. The uncertainty developed during 2020 and 2021 will lead us as companies to be more attentive to needs, in order to preserve our working capital and our position in the market. This consequence will only be possible if there is good communication between those involved.

To retract or close our businesses should not be an option. We must develop thoughtful strategies to ensure our preservation and continuity.

There are many ways to do it, among them we recommend:

a) Do not stay with a single source of income. Find new ways to produce.

b) Focus your business on good service. Whether your activity is the marketing of products, you will have to offer added value for its proper functioning, for example, the delivery of merchandise.

c) Invest in Technology. Without a doubt, he is the best ally in the new world.

d) Budget and Provision t u Working capital and set aside your cash flow .

e) Insure your business anticipating the risk. Create a Department in charge of evaluating these future events, preparing your company for them.

We walk towards a new global scenario, we must update our tools and resources together.

Jhoan Landaez
CFO Prodezk

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