Coronavirus – What companies should do in times of COVID-19

There are many ways to deal with the crisis caused by COVID-19 as a company. We show you what companies should do in times of the coronavirus and what actions you can take to be prepared for such crises:

• Digitalize your processes and communication channels as far as possible.

• Organize yourself so that you can control your business processes from anywhere at any time. Cloud-based supply chain management and vendor compliance management systems can help.

• Digitise your contracts with suppliers to speed up coordination processes and payment methods. The digital bill of lading, which can also be digitally endorsed, is another solution for a smooth flow of goods.

• Implement the digital connection to the customs authorities so that the import of goods can be carried out as fast as possible without paperwork.

• Examine how you can stabilize your company in this critical phase. Possible measures include short-time work, tax deferrals and short-term financial aid from the government.

• Build trust with customers and employees with a clear strategy and communication and be prepared to rethink. For employees, too, home office and remote working are no leisure time. Companies must become aware of this and invest more trust in their employees.

• And please, stay healthy and respect the #socialdistancing and #stayingathome, to protect yourself and your company in times of the coronavirus as much as possible.