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CFO Insights: Managing through COVID-19 – Six imperatives for CFOs

Published on: May 12, 2020

Slightly more than a decade after the Great Recession, COVID-19 has brought back the dreaded “R” word to haunt executives in the world economy. The practice of social distancing to slow the contagion has abruptly and sharply curtailed economic activity around the world. Moreover, it is becoming clear that a worldwide recession of significant depth emerged in the first quarter of 2020 and may continue for an uncertain period.

Downturns and recessions are challenging, but some businesses are not only able to come out intact, they are also able to seize on opportunities to outdistance their competition and position themselves for future growth. Still, the speed at which the COVID-19 crisis is unfolding may likely require CFOs to use new tools—virtualization and scenario-based forecasting, for example—in addition to the traditional levers they have used to act swiftly and reasonably.

In this issue of CFO Insights, we explore six distinct imperatives that we believe will assist CFOs in protecting their companies and workforces during this period of rapid economic deceleration and uncertainty.

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