Best Practices For Cost Management Amid COVID-19
Undoubtedly, COVID-19 pandemic has resulted in a cost management exercise for many companies. Particularly under the present scenario, most of the organizations (especially MSMEs sectors) are facing challenges to survive due to fewer earnings and unavoidable costs. Under such unprecedented circumstances, only those organizations will survive that can effectively manage their costs, cash flows, and working capital. As the impact of the pandemic extends, all functional leaders face pressure to cut the costs, but at the same time, it is critical too to avoid thoughtless responses. In this article, we would like to discuss the cost management process that includes several best practices on how to manage costs in times of COVID-19. Tips For Effective Cost Management Working Capital Management [...]