Mark R. Dreher, CPA | Business News

 |  Arizona business, Coronavirus

No business could have been prepared for what hit them in 2020.
Even businesses who thought they were prepared for anything likely didn’t factor a global pandemic into their plans. So, moving forward, in what areas will companies feel the greatest impact from an accounting or financial planning perspective as they adjust to a never-before-seen “be prepared” approach?Arizona business news
“The pandemic amplified the need for flexibility and adaptability — flexibility to capitalize on opportunities and adaptability to manage competitive challenges,” says Mark R. Dreher, CPA, managing partner at Wallace Plese + Dreher. “Be it the physical workplace or staffing, businesses should focus on scaling upward or downward. Challenges will be accessibility to products and services, without the obligations of control, and minimizing inventories, minus large facilities and taking risks of ownership.”
What should the new “be prepared” approach look like post-pandemic?
From an accounting and finance perspective, Mark stated: “Businesses should embrace automation, seek opportunities to reduce facility commitments, and evaluate staffing that can be performed by specialized services. Our Client Accounting Services provides a blended model of traditional accounting and cloud-based automated processes for accounts payable, cash management, general ledger and financial reporting, and analysis. Product specialists offer business coaching and advice. Our services reduce business space, provide continuous, real-time data, and accurate information for decision-making.”
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