According to Fortune magazine survey 94% of the Fortune1000 are already seeing COVID-19 disruptions. It’s possible that the coronavirus threat will eventually fade, as MERS and SARS viruses have in recent years. But even if it does, the next devastating, yet-unnamed outbreak is not so much a matter of “if” but “when.”
This current challenge can be used to develop more collaborative and resilient relationships with critical suppliers. Durable corporate relationships and the degree of agility instilled within operating models are what can help organizations to strengthen overall preparedness in the face of any disruption.
In the same way that restaurants responded to declining walk-in traffic by switching operating models to focus on take-away clientele and extended this to the delivery of corporate lunch packages, the triggers of this challenge can help enable organizations to spot opportunities within their current operating model.
Among key immediate actions belongs safeguarding people. The CIO and CISO have vital roles in making sure the organization can function as pandemic containment measures are implemented.
Being in this role means you need to ensure your business can work remotely and flexibly, and that employees are confident in being able to do so. This may require you to revisit decisions on access rights, entitlements and risk posture. Which questions/task need to be considered? Here is the list prepared by KPMG experts.
Do not hesitate to contact me in case of any questions about this topic - Pavol Adamec, Risk Consulting Executive Director.