coronavirus crisis management outlook and analysis.
with sarah dobek
we’re out of the crisis stage or the triage mode,” inovautus founder and president sarah dobek tells 卡塔尔世界杯常规比赛时间 in a video interview.”and we’re moving in to the second phase, which is learning how to operate in what everybody’s calling the new normal.”
more covid crisis management videos: jean caragher: how to fight covid-19 ‘fear’ and ‘insecurity’ | jody grunden: covid and client communications | august aquila: what comes after coronavirus? | andrew argue is on a mission | martin bissett: covid slams u.k. accountants, too | bill reeb: covid crisis separates the winners from losers
chaos and confusion make client communications “so critical right now for cpa firms,” she says, adding. ” if clients aren’t getting information, they’re absolutely getting information from your competitors.”
meanwhile, inside cpa firms, there’s going to be a cash flow crunch,” dobek says. “most of the firms i’ve talked to have applied for ppp loans and most of them have received it.”
as firms pivot from tax season compliance work to advisory-based rescue and recovery programs, dobek says “firms that have strong already are having an easier time adapting. they’re also more willing to charge for their services.”
“when we look at living in the new normal it’s impacted every aspect of the business,” she says. “we can’t wait until we’re, quote, unquote, ‘back in the office'” to handle urgent client matters.
with the sudden shift to cloud technology and remote staffing, dobek says, “the silver lining in all is that change that needed to happen is actually going to help the majority of firms in the long run.”
things will, nevertheless, be changed. “i don’t believe the core foundation of what cpa do is going to change,” she says. “i do believe how they deliver that is going to change.”
realistically, “some firms are going to close,” she says. “the client bases, sadly, going to go away.”
her final piece of advice: don’t be afraid to act. don’t be afraid to try something.” smaller firms, especially, have the advantage of “being nimble.”