Coronavirus pandemic has caused huge financial losses and taken human livesglobally. Due to lockdown many companies are closed down and many of them are working remotely to maintain social distancing with an intention to save human lives till we get a vaccination. In this critical situation,many companies has adopted remote work and adopted new technology for survival. Many businesses are closed down gone into bankruptcy and many cases the future remains uncertain. Hence, it is very important to take actions as regards to falling sales and improper supply chain management. This article focuses on what is CFO role amidst this pandemic.

1.    Keep your salesteam active

            Work from home trend came into the scenario since March after corona started    spreading. When people came to know about real threat of coronavirus to human       life then companies started to give facility of work from home to their             employees.Most of   the companies failed to provide work from home because         they don’t have remote working infrastructure and some of them lack knowledge             about it.

            In order to approach customers, the salespeople were visiting at client location    for face to face discussion and presentation on daily basis but in lockdown it is       very challenging to explain customers about their product. Even though virtual     communication is done with clients face to face communication has its own           importance. This resulted decrease in sales and had negative impact on       customers.

            Today, when economies are trying to reopen themselves, CFOs need to create    an active workforce. They        can predict salesand build their virtual communities.   If they do their work efficiently then it will be helpful for them come out from the          financial crisis. 

2.    CFOs must prepare themselves for uncertain future.

            CFOs must focus on adopting new leading indicators such as gaining high         revenue and unit volume. They can forecast their sales in the coming future    building strategic insight and monitoring supply and demand ratios. They need to            monitor the supply and demand ratios and build strategic insights that help them       in forecasting sales in the coming future. While allocating company resources,     CFOs must be prepared for transformation mindset in such economic crisis. They           can use the CRM for predicting sales.

3.    CFOs need to revise their parameters of sales analytics.

            Now a daymost of the companies need to use Information Technology when for gathering data and this will help to make decisions organization.CFOs can predict their sales,workflow and identify problem area with the help of specific     metrics.Following questions should be asked by CFOs for redefining their sales          analytics.

·         CFOs should monitor whether they are achieving target related to weekly/monthly quota of calls.

·         Need to monitor whether sales team converting prospects into log lasting

customers.

·         CFOs need to differentiate in closing and final stage of their sales and identify that which are of them are at risk.

·         CFOs should switch to new products and services which will help to assist customers those are in need, this will result into company's quarterly returns

4     CFOs can boost productivity by using digital technology

            CFOs should implement online communication tools to keep the business           functioning in order to protect economic crisis.This can be achieved by        facilitatingtheir employees to work remotely.This is not the one-time event for         finance team when using digitalization to help the company manage the crisis.          During this crisis situation the CFO and finance team need to take a leadership     position in improving of digitization across the organization and must focus          on efficiency of accounting for stability.CFOs should        adopt digitalization make    use of automated core business processes.They can use CRM to automate   business tasks and helps in the sales and growth of the company; it also gives         insights of intelligent business reports which are helpful for taking major business         decisions.

            At SalesFundaa,you will fell at home with the best CRM software that will            helps you in Sales forecasting to take proper actions during this uncertain           business times.

            To know more you can also email to us at [email protected] or call us on 9235353535 we are happy to help.