Effects of Covid-19 On Indian IT Services companies
Covid-19 has affected almost the entire world at the moment. There’s a severe and huge impact on domestic and international businesses across countries and sectors. The effect of the Covid-19 pandemic in human life is incalculable and it continues to grow in the world.
Many Indian IT companies have asked their employees to work from remote locations via video conferencing and collaboration tools seamlessly. They are testing their systems before they can implement any widespread measure to allow their lakhs of employees to stay home. But the spread of coronavirus to multiple cities in India could result in shutting down, requiring broader work-from-home (WFH) authorizations.
IT companies are spread overseas, mainly the USA, which is badly affected by Coronavirus. As such all IT Outsourcing existing projections and future plans have been canceled or stalled for an indefinite period. Hence it is imperative for IT Companies especially Small & Medium size Companies implement financial crisis plans in place immediately for its near term existence and long term gains.
We have prepared a Financial Crisis Management Advisory Package for such Companies at a very reasonable cost. Our scope of services & Deliverables shall be as follows
- Understand the existing business model, Cost Centres, Revenue Centres.
- Identify Stress Areas
- Present and Future Financial Analysis and Working Capital Requirement Analysis
- Advisory on best possible cash preservations
- Identify the best suitable Cost Control/Reductions Areas such as:
- HR Costs
- Other Fixed or Variable Overheads