How to Cut Costs in the Short and Long-Term During a Pandemic
As the COVID19 pandemic continues, many businesses face both short- and long-term financial risks. Even when the pandemic ultimately subsides, there could be a prolonged economic impact that companies need to account for.
Adjust or Cut Subscriptions
Due to the pandemic, existing subscriptions may no longer apply. For example, if employees continue to work from home while you’re paying for in-office subscriptions, like landline phone plans or even cable TV subscriptions, that may be something you could put on hold.
Meanwhile, you may need to adjust other subscriptions to account for increased usage. For example, if employees are using their company-issued cell phones more while working at home, rather than their in-office landlines, you might be incurring overage charges. So, upgrading your corporate mobile plan might still yield short-term cost savings, without negatively affecting employees.
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