Cyprus Mail

Coronavirus: EY urges companies to accelerate business transformation

On Wednesday accounting firm Ernst and Young (EY) released a statement calling on companies around Cyprus to accelerate their business transformation as a result of the coronavirus pandemic.

EY held an online seminar, titled “Beyond Covid-19: Business Transformation Accelerated”, urging companies to adapt to today’s situation in order to get aligned with current customer behaviour, the need for cost optimisation and the reformed workplace experience.

“The situation that we are currently experiencing with the pandemic accelerates the need for business transformation,” said Charalambos Constantinou, head of advisory services at EY Cyprus.

“Covid-19 has altered consumer and employee needs, which inevitably will lead to the transformation of the current operating model. Organisations are required to redefine customer experience, create efficient and agile supply chain processes, reengineer their back-office operations and upskill personnel through ongoing learning and development activities.

“We believe that the winners of this crisis will be the organisations that will start thinking and planning their business transformation from now.”

EY will continue to organise webcasts on a regular basis in Cyprus, focusing on different areas of business and economic activity, with the aim to inform and discuss the effects and challenges posed by the coronavirus crisis.

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