Comeback Tips for Businesses for the “New Normal” – Bente Krogmann – CEO mTek Services

Bente Krogmann- CEO mTek Services

Sudden lockdown and nothing but ample access to Internet. We have had to make massive adjustments and finally embrace the use of digital platforms to order our food, groceries, do school work and so much more.

Crossover Kenya’s Harleen Jabbal had a chat with Bente Krogmann– CEO mTek Servies  on her recommended five comeback tips for business as we get to a “new normal”.

1) Assess the financial Damage
Everybody has to understand how their  business has been affected in terms of financials. At the end numbers build the base of all you do.
Have a look at the hard number and compare the current statements with the last couple of years.  Don’t get too stressed before you have firm results. The situation might not be as bad. 
2.) Adjust your Business Plan
Covid 19 has changed nearly all industries – even the ones which were positively affected. I recommend to everybody to revisit their business plans. You most likely will realise that things which worked previously don’t work anymore. A well aligned business plan will eliminate points of failure. 
3.) Evaluate your supply chain
Your business is surely not the only one which is affected. Covid19 has hit most companies hard. So its of essence to review all companies you interacted with to expose potential vulnerabilities and get a clear understanding of availability and also pricing. Start with the most critical products and services and continue from there.  Also ensure you have first- and second-tier suppliers aligned so that you are agile to move towards them in case your first option forfeits. 

Image by Pete Linforth from Pixabay

4.) Implement and Review Digital Tools
We are in this #newnormal. So the situation of a mainly remote driven ecosystem won’t change from today to tomorrow. This is why its essential to provide team with the necessary tools and system which allows them to work remotely and maintain efficiency and transparency.
5.) Ensure smooth Communication
There is a lot of confusion and misallignment spread along with the current situation. So its essential that you keep your teams, suppliers and clients informed and take away potential insecurities.
mTek Services is an innovative Mobile Application – a platform which provides an entirely paperless ecosystem for the insurance industry. Our Insurance solution allows customers to purchase policies directly from the Insurer, file for claims directly from the convenience of their smart device thus increasing efficiency and can capture critical data on claims from geo-located accident scenes.