Planning for 2021 – Finance Edition
The COVID-19 pandemic has caused significant disruption to many industries over the past 12 months. Financial services firms have been impacted differently depending on their department.
While in recent years, planning for the new year was as easy as making a few small adjustments to last year’s plans, planning for the 2021 year might not be so straight forward.
Below we have shared some tips to help your financial services firm plan for the year ahead!
Create multiple 2021 plans
2020 has been an unpredictable year for every industry throughout the world and this uncertainty is likely to carry over to 2021. Therefore, to give your financial services firm the best chance of navigating this ‘new normal’ it is beneficial to create multiple plans for your firm.
When creating the plans, it is important to consider how easy each plan is to implement because, as we have seen this year, the economy can transform in a matter of days. Having multiple plans will ensure your firm is ready for whatever 2021 brings.
Most of 2020 has been impacted by COVID-19. While it will be difficult to plan and predict a budget for 2021, referring to the 2020 profit and loss statements and your reports from throughout the year can assist your financial services firm in developing budgets for the current economy.
Outsourcing can allow your financial services firm to be adaptable to the many changes that may arise in an unpredictable 2021.
With APT, your contract encompasses more than just offshore staff. We offer a full service, including:
PROCESS DESIGN – ensuring your business is operating at the highest efficiency and outlining what areas need improvement.
TECHNOLOGY – helping you get the most out of your current software and offering design of new technology to improve your processes and delivery.
PEOPLE – if you have any processes or roles that would be more efficient offshore, we provide people who not only have a degree in the legal or financial industry but have years of experience in both Western countries and India.