Coronavirus is a global health crisis with far reaching implications, the extent of which are still becoming apparent. The overwhelming priority is now to contain the virus and minimize its spread, reducing the impact it will have on individuals, families and communities around the world. Our thoughts are with all those that have been affected.
At KPMG Hazem Hassan, we have launched a pandemic response program to protect our people and manage the resilience of the services and support we provide to our clients.
Our Business Continuity Management system is robust, regularly tested and a number of measures have already been taken as part of our response. We are now regularly stress-testing our processes, systems and policies alongside extensive scenario planning to assess the likely impact of COVID-19 on our business.
Practical steps for resilience
• We have made sure that the premises are deeply cleaned and sanitized regularly under the supervision of one of the leading hospitals in Cairo
• We have restricted all international travel and have placed a limit on internal and external events at a maximum of 20 people.
• All KPMG business travelers and clients have been asked not to come to our offices or visit our clients for two weeks after their or family member return from abroad.
• We have launched a comprehensive awareness sessions for all of our employees including guidance on best practice hygiene and infection control and the measures we are taking to ensure the health and safety of our employees.
• We advised all our employees who might have any flulike symptoms to stay in self quarantine and report to their performance managers to direct them to medical facility if required.
• We have established a remote working capabilities with all colleagues equipped with a laptop and internet-based systems.
• We are working on multiple options to reduce our employees presence in the office including working from home.
• All client meetings are restricted and will be replaced by conference calls and internet based meetings.
• Our internet bandwidth and VPN systems were tested to support our colleagues working from home.
• Our supply chain and key suppliers have been reviewed and we have made arrangements to ensure the provision of services critical to our business.
• Executive committee is reviewing the processes and necessary actions on daily basis and will keep all partners, managers and team members informed about the developments every Thursday and will inform all employees of any related incidents as they occur.
Practical steps for resilience
We are committed to supporting our clients through this period of extended uncertainty. Our teams are already working to provide guidance and support to businesses, and we developed a number of practical guides on how you can manage the impact of COVID-19 and build long-term resilience in your organization.
Immediate actions for the clients to consider include:
• Safeguard people and customers: maintaining their physical and mental well-being, reassessing firm wide travel policies and pursuing collaborative solutions including remote working
• Assessing supplier risk: keeping stakeholders fully up to speed and potentially reconfiguring supply chains where necessary and possible
• Manage working capital and business plans: revising forecasts against supply and demand, understand any impacts on financial stability and to ensure joined-up tactical and strategic business planning
In the medium to longer term, businesses and organizations need to assess if the disruption has changed any of the key fundamentals for their business and the markets they operate in. Will consumer demand return to normal, is their supply chain fit for purpose and what have they learnt about the agility and resilience of their business to respond to future disruptions? Answering these questions will likely to be critical to ensuring an organization can look ahead to become more resilient in the future.
If you would like to find out more about what KPMG is doing to be fully prepared, or if you would like any assistance, please connect with your KPMG contact.