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Help! I’m managing through a crisis, what’s my first step?

Paul van Eyk
Quote of the day
" When courageous business decisions are required, Richter is here to help you find a way through this crisis. "
Paul van Eyk CPA, CA•IFA, CIRP, LIT, Fellow of INSOL
Partner

Your goal

Navigating uncertain times requires bold decisions, creativity and a focus on moving away from fear-based reactions. Emphasis should instead be concentrated on cash management, managing working capital, operational expenses and supply chain risk management.  Richter understands how to navigate a crisis, regardless of its scale, and we are here to help. Together, we’ll create the solution.

How we can help

For over 94 years, Richter has been helping companies through innumerable crises – whether affecting just one business or an entire industry. We are here today as a multi-service firm that assists business owners and executives manage through trying times.

When it comes to your business, we suggest focusing primarily on the following:

CASH FLOW MANAGEMENT

  • Cash conversion is key – your entire organization should be thinking like a CFO
  • Manage working capital and supply chain management – create a communication plan and work with your creditors
  • Look at alternative financing options and take advantage of government subsidies and tax deferral opportunities

STAKEHOLDER MANAGEMENT

  • Communicate with your lenders and recognize their importance as a key stakeholder in this crisis and engage with them as part of the solution

UNDERSTAND YOUR OPTIONS NOW

  • During a crisis your options start to narrow with less time and liquidity

Managing a crisis may not a be skill set many companies are comfortable with, nor understand how to implement – we are here to help.

Our professionals have led some of North America’s largest turnarounds and have strong relationships with Canadian and U.S. lenders and equity participants. We can provide you with seamless support across borders.

Lead and engage now.  The market understands the challenges that are present, those with a game plan now can increase their chances of weathering this storm.

Contact us if you need support on an action plan to navigate COVID-19.

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