How CFOs and Executives are Responding to the Coronavirus (COVID) Crisis

PWC, Deloitte, Forrester and Gartner’s findings and AI Consulting Group’s Action Plan for CFOs.

Cost Reduction, Scenario Modelling & Agility

PWC conducted two surveys (Globally and the US) about the sentiment and priorities about the COVID-19 outbreak from finance leaders. The top shared finding between both reports indicated that 64% of CFOs will be implementing cost containment measures. The reports can be found here (US & Mexico) and here (Global). For AI Consulting Group, this will mean working closely with CFOs, CEOs, boards, other leaders and investors to pivot, re-calibrate and, wherever possible innovate around the following :

Rapid Budgeting, Forecasting and Scenario Modelling for the CFO:

Example of Automated Seasonal Daily Forecast with Growth Uplift: Slash forecasting and budgeting time/effort, improve/consistency and facilitate out-of-cycle re-forecasting for unforseen events like COVID.

Cost Leakage Identification (Transaction Analytics):

A Counterintuitive Time to Innovate

Forrester also identifies that “Now (COVID) is a Counterintuitive but Ideal Time to Drive a Companywide Innovation Campaign” (reference here).

Addressing this, AI Consulting Group will be facilitating our proven ‘Virtual Innovation Workshops’ or ‘Opportunity Catalogues’ for medium to large organisations. The format will gather specific stakeholders into carefully planned, 1-2 hour ideation sessions, across 1-3 days, and will be conducted by experienced facilitators with an overlaid technology lens of Artificial Intelligence, Machine Learning, Data Science, IoT and Predictive Analytics. It exposes our clients to the ‘Art of the Possible’ and then converges in actionable Priority Lists, Roadmaps, Business Cases and Technology Strategies to accelerate innovation progress. 

Conducting Virtual Innovation Workshops at a time when most employees are working from home is a way to enhance employee experience and get ahead of the curve by re-positioning your organisation for future market leadership (see some examples of uncovered opportunities here).

Published 06/04/20 by Rad Anandakumar (National Practice Lead  – AI Consulting Group)


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