Companies in the technology sector need to be compliant with the regulatory policies around data capturing and sharing and privacy policies. With Covid-19 epidemic, tech companies (Alphabet, Microsoft and IBM) are developing websites and chatbots to track Covid-19 cases across the globe. It is crucial for them to comply with data protection policies while collecting/sharing data. Our professionals can assist your organization in ensuring compliance.
The tech hardware market is facing significant supply chain and operational disruptions, globally. While the demand has surged due to remote working and social distancing. KPMG can assist companies in this sector in reducing revenue at risk from potential supply chain disruption, optimize working capital and operating costs and expand their geographic footprints.
In remote working setups during lockdown, there has been a surge in cyber crime instances and cloud services breaches. KPMG can provide cyber-related services to cloud companies (Microsoft, Alphabet and IBM) including support in cloud security and client training.
Tech companies are grappling with decline in sales in the area of advertising (Facebook and Alphabet) and hardware/devices sales (Apple, HPE, IBM). KPMG can help tech stakeholders to evaluate their current cash situation and help them to optimize their liquidity accordingly by providing services including, financial planning and cash flow forecasting.
KPMG can offer Deal Advisory services to assist technology companies in merger deals once talk resume post Covid-19.
KPMG’s People & Change management solutions and services could potentially assist tech companies as they operate in remote working conditions.
Technology companies’ operating expenses have increased due to a surge in usage volume and increased load on companies to keep their services up and running. KPMG can offer advisory around operational strategy and cost take-out to monetize their expenses/investments in near-term.
Companies in the sector would need sustainable business continuity plans in place. KPMG can provide business continuity planning services, so that the impact on business due to unforeseen circumstances is minimized.
Some clients (like Vodafone) that have high leverage may require debt advisory and restructuring services in the medium term, to ensure business continuity
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.