A year of pandemic has changed the priorities for finance teams as they need to analyse their financial data more closely than ever, wrestle with covid grants and furloughed staff, while keeping their businesses afloat. David Brightman, director of product marketing at BlackLine looks at how CFOs have responded
The world has become unrecognisable compared to only a year ago – when businesses ran their operations from offices, students had their classes at schools and pubs and restaurants were filled with lively crowds. But as the pandemic began to wreak havoc, almost every part of daily life had to change and businesses everywhere looked for ways to adapt. From remaining operational and maintaining profits under tight social restrictions, to ensuring employees could continue to perform effectively in remote environments, these past 12 months have been full of uncertainty and change.
For many organisations, keeping up with these changes has required increased scrutiny of their finances, to better gauge how the business is doing, where the challenges lie, and how the organisation will ultimately fare if the disruption continues. Even with recent government announcements regarding roadmaps out of lockdown, it’s likely the pandemic has a few twists and turns left to deliver.