Most education institutes have contingency plans for small disruptions. However, these plans might not be sufficient to tackle large scale disruptions caused by the Covid-19 pandemic. KPMG can assist educational institutes tackle disruption by formulating a comprehensive crisis management and business continuity plan.
In order to provide educational services effectively during and after the pandemic, institutes need to deploy and adapt emerging technologies. KPMG can assist in rolling out the technology architecture to create an e-learning environment that will help educators, schools, boards and students.
KPMG’s People & Change management solutions and services could potentially assist educational institutes as they operate in remote working conditions by providing communication and change management supports to confirm virtual education is sustainable and meets the needs of diverse stakeholders.
The outbreak of Covid-19 will potentially expose educational institutes to risks such as IT risks (cyber), operational risk (supply chain risks), financial risk (credit risk monitoring) and risks arising due to regulatory changes. KPMG’s strong background in risk management can help organizations assess and monitor risks, and create risk mitigation strategies.
With education institutes reducing their profit outlook, an increased focus on cost reduction, efficiencies and revised savings targets can be expected. KPMG can provide assistance with cost reduction strategies, identify low cost support areas and protect profitability.
The Covid-19 pandemic has led to regular changes being announced related to tax requirements, deferrals and incentives across geographies. KPMG can assist banks in monitoring these changes, evaluating tax obligations, tax modelling and other updates related to direct and indirect tax and transfer pricing.
Educational institutes are likely to face cash flow and liquidity challenges. KPMG can assist in assessing the current cash position and optimizing liquidity accordingly.
Protecting revenue and margins in these times of uncertainty becomes crucial. Many institutes may face a decline in demand due to mandated restrictions on movement. KPMG can assist in developing agile, clear and effective strategic pricing models, helping institutes mitigate the impact of the Covid-19 outbreak.
M&A possibilities are emerging within the education sector, as small distressed institutions are already approaching larger institutions to discuss partnerships and/or acquisitions. KPMG has collective experience across our strategy, M&A, financial due diligence and accounting advisory practices to respond to this emerging need.
KPMG can help the educational institutes optimize spend and investments while delivering winning customer experiences suited during these times and in the future. We help institutes develop and deliver seamless, personal customer experiences that drive engagement, satisfaction and loyalty—and profitable growth.
KPMG can provide governance and project management services with respect to the shift to virtual education.
We can also assist educational institutes in addressing the policy and equity impacts of virtual education by developing and deploying a content and partnership strategy