Get ready for the recession – 4 things every business needs to do now

Automate as much as possible

From customer self-service to the supply chain. Prioritise taking costs out of your business using cloud-based IT solutions and process automation tools. Implement them as close to how they come ‘out of the box’ and avoid customisation. It will be quicker and cheaper that way.

Focus on the customer experience

Demand is already falling, is likely to continue to do so and customers will inevitably get pickier about their purchases. Delivering outstanding customer service throughout the entire customer journey is a must, from pre-sales to fulfilment.

Sort out your most valuable data

Data helps you understand how your business is running so that you can make informed decisions. It sounds simple but is often not well executed. Understanding fundamentals like your cost to serve, onboarding new customers, fixing complaints, etc. should be the one-page dashboard that any good management team uses to drive change.

Accelerate the pace of change

Organisations responded to the pandemic at a pace rarely seen before and many leaders were left wondering ‘why can’t we deliver change at this pace in normal times?’ ?Unfortunately, most did not take on the lessons learnt, but now more than ever, speed and agility are going to be fundamental to success. Create a common mission for everyone to get behind, experiment quickly and cheaply, continuously communicate, eliminate unnecessary bureaucracy, and put your best people on leading change.