Responding to the UK business impacts of coronavirus (COVID-19)

As well as serious implications for people's health and the healthcare services, coronavirus (COVID-19) is having a significant impact on businesses and the economy. We are working closely with organisations both in the UK and globally to help them prepare and respond.

To support organisations with their response to the ongoing impact of coronavirus (COVID-19) we’ve gathered our practical insights and guides together in one place. From updates on what the latest Government response will mean for your business, to podcasts and more on where to focus your strategy over the coming weeks and months, we are here to help.

Latest updates, opinion and insights

Summary

 

Common issues that many organisations are facing

Crisis scenario planning and management

We are supporting clients to:

  • lead their crisis response  

  • provide additional strategic and operational capacity to manage the crisis

  • stand up and run a crisis PMO / war room

  • produce detailed scenarios including ‘reasonable worst case scenario’ and assessing business impact

  • use these insights as part of the replanning and modelling process

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Cashflow management and rapid cost reduction

We are supporting clients to:

  • produce and review cashflow forecasts 

  • apply for Government funding

  • identify the cost reduction levers available to the business to improve the liquidity position (e.g. cancel non essential orders, rationalise shifts or implement changes to working weeks)

  • modelling changing customer needs and behaviours

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Workforce

We are supporting clients to:

  • plan and reshape requirements, particularly during high levels of illness/absence periods 

  • develop approaches to employee engagement (e.g. remote working strategy)

  • provide immigration support and advice 

  • assess the impacts of collecting and tracking employee data, against  local data privacy legislation

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Employment and tax

We are supporting clients to:

  • make critical decisions and communicate what this means to their employees

  • consider their options for employees, including local Government funding (e.g. Coronavirus Job Retention Scheme in the UK)

  • access tax reliefs and grants 

  • consider deferring pension contributions in order to preserve cash

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Business, technology resilience and cyber

We are supporting clients to:

  • develop their approach to risk and controls (e.g. supervision and management)

  • test the resilience and cyber risks of their enhanced IT infrastructure 

  • secure newly implemented or scaled remote working practices and ensure the continuity of critical security functions

  • run contract reviews, including; assessing impacts of Force Majeure or Pandemic clauses and supporting commercial discussions and claims

  • counter opportunistic threat actors

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Supply chain management

We are supporting clients to:

  • reassess lead time and volatility to manage stock levels  

  • assess financial viability and other measures for critical suppliers

  • manage risks of onboarding new suppliers

  • assess assurity of supply and substitution options

  • support in implementing contingency replenishment process and controlled intake

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Execution services and surge capacity

We are supporting clients to:

  • deliver operations, including shared service centres, call centres and payments processing 

  • manage resource capacity issues as they deal with a peak in demand or fill resource gaps (e.g. providing additional call centre support for customers) 

  • provide additional resource to bridge resourcing gaps (e.g. critical roles)

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Regulatory and compliance

We are supporting clients to:

  • tracking new regulatory changes (deadline changes as well as new rules), assessing impact and replanning

  • assess and implement controls to mitigate against new risks created by new working environment 

  • investigate fraud and misconduct

  • assessing regulatory permissions and policy exceptions

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Contact us

Umang Paw

Partner, PwC United Kingdom

Tel: +44 (0)7931 304666

Melanie Butler

Partner, PwC United Kingdom

Nicola Shield

Partner, Governance Risk and Compliance, PwC United Kingdom

Tel: +44 (0)7931 388648

Suwei Jiang

Lead Partner, PwC UK China Business Group, PwC United Kingdom

Tel: +44 (0)20 7804 9248

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