Businesses must evolve quickly to adapt to the uncertain economic climate. Government actions enforced across the region have disrupted supply chains, and changes in customer demands are straining budgets as businesses struggle to keep up.
So how can businesses adapt with the uncertainty these challenges bring? How can finance help lead the business throughout the period of uncertainties, to come out of this and lead the market?
“We had to look at cash preservation,” Chris Tham, CFO of Bailey Nelson said. “In a situation like this you can’t hesitate. You have to act quickly. We made decisions around what costs we wanted to cut, and because of that we were able to ramp down our costs quickly.”