Unforeseen Challenges of the ‘New Normal’
Since the re-introduction of non-essential retail and hospitality on 12th April, the country has slowly but surely been trying to re-gain some form of normal. But whilst this is great news for those businesses that have been closed for most of 2020 and for the start of 2021, it also provides new challenges to tackle.
With the further relaxation of lockdown expected on 17th May, operators are faced with some difficult questions: when should they bring back all their customer facing staff, currently on furlough, and what about back office roles and should they look to operate with a skeleton staff and plan to build up to previous staffing levels later in the year?
Whilst businesses are now up and running again, paying suppliers in a timely manner with reduced back office staff may well quickly become a problem, leading to difficulties obtaining and maintaining appropriate levels of stock across the business. There is then the added pressure of the government’s prompt payment code changes to add to the already increasing demands on back office support.
Help During a Time of Need
Here at Liberata, we can help you with this. “Back on Track Services” by Liberata can support you as you look to return to normal. By working with your team we can help manage any backlog of invoices and manage relationships with your suppliers for you. We get up and running quickly and will work with whatever core accounting system you have in place – and we’re happy to work on the basis of a short-term commitment only.
Some of the tangible results you will see include:
- Invoice backlogs cleared
- Costs reduced
- Fewer enquiries from suppliers
- Suppliers paid on time
- No more stop notices
- Improved cash flow forecasting
- Greater confidence in the accuracy of accounting records
- Supplier statements reconciled and previously unknown credits uncovered
- Detailed understanding of the root cause of issues
- A practical to do list to execute
Liberata has over 40 years’ experience in helping private and public sector organisations with finance and accounting services and can provide essential cover while you decide how to manage this transitional period and get back on your feet.
To learn more about our Back on Track Services click here.