The COVID-19 pandemic is an unprecedented crisis with virtually no point of reference in modern history. It has brought businesses and even economies to a virtual standstill.
In some cases, entire industries are on the verge of collapse due to business disruptions, depressed demand, and/or difficulties in managing cash flow and servicing debts. In other cases though, new industries and operating models are blooming, and businesses may be looking at financing to leverage on the emerging growth opportunities.
These represent both risks and opportunities for Financial Institutions, and other companies with Trade Credit exposures. How can you manage your risks, while trying to make the best out of a challenging situation for your business?
To successfully navigate a pandemic, organizations need to develop responses tailored to their business, industry, and risk profile. Marsh’s Pandemic Response Cycle tool can help organizations through the key stages of a pandemic: outbreak, growth, disruption, and recovery. In addition, it can help organizations determine effectiveness in: cost savings, employee well-being and productivity, shifting risk profile, and risk management and business enablers.