As the Indian economy reopen, what should CFOs do?
The COVID-19 crisis has left the global economy in shambles, and India has fared no better. With almost 3 months of a nationwide lockdown, business have been closed for a long time. The lockdown rules have recently been relaxed, and businesses are beginning to start operations gradually. As businesses and the Indian economy reopens, all companies must take a strong and detailed look at their finances and prepare for the unprecedented and unpredicted times ahead. Here are a few things every CFO needs to consider to ensure that his company has a plan to survive the recession - 1. Evaluate Where You Stand The first step is obvious - conduct a detailed and accurate study and account for your company's current financial status. This includes, but is not limited to - Your Cash-flow Take a good account of inbound and outbound cash flows to evaluate your company's overall liquid capital. Knowing how much cash you have to use, how much cash is coming in, and how much cash ...