Caution and pragmatic action will unlock opportunities to bounce back.
Corporations, family businesses, startups and the public sector are continuing to adjust to the new normal, which is still very much being shaped by the pandemic, as well as by the major issues of digitalisation and sustainability. We are here to help with our experience, our expertise and, above all, specific measures – from planning to implementation. Locally and internationally. Because we’re stronger together.
What do you need in unexpected and extremely challenging situations? A crisis team and a contingency plan that will help you keep your business running, quickly identify particularly sensitive areas, inform your stakeholders, and make the right decisions in a timely manner.
Companies have a duty of care to their employees and need to keep them informed – particularly so in times of crisis. These duties include adapting working conditions (e.g. offering the option of working from home) and various issues related to employment law and social security law – from short-time work to continued payment of wages.
Crises – such as pandemics – often lead to economic standstill, creating immense financial imbalances that can threaten the very existence of a company. Transparency as a company about your own financial situation and liquidity, about public subsidies and the effects on your company’s tax bill are essential in such a situation. This is why now is the ideal time to transform your finance function.
Crises often lead to complex legal situations – for example, when contracts are not adhered to. You therefore need to quickly ascertain where disadvantages may arise, where you may have to bear liability and where certain statutory deadlines cannot be met.
A global pandemic will always jeopardise business operations. Supply chains are put at risk – to IT service providers, to suppliers, to customers. The task now is to identify critical functions and operational risks so that your business operations don’t grind to a standstill.
Decisive action enables companies to come out of a crisis in a stronger and more competitive position. Successful companies use crises as opportunities to re-evaluate their strategy and initiate strategic transformation – this involves reorienting core skills, cost structures and the corporate organisation towards the post-crisis “new normal”.
Leader Middle Market and Family Business, PwC Germany
Tel: +49 211 981-1998
Prof. Dr. Rainer Bernnat
Leader Government & Public Sector, Strategy&, PwC Germany
Tel: +49 69 97167-414
Workforce, PwC Germany
Tel: +49 211 981-7680
Partner, ESG Leader, PwC Germany
Tel: +49 30 2636-4407
Supply Chain & Operations, PwC Germany
Tel: +49 151 46123326
Dr. Peter Gassmann
Global Strategy& Leader, PwC Strategy& (Germany) GmbH
Tel: +49 69 97167-470