Minimize bookkeeping cycles and build better financial processes for efficiency.
Enable each employee grow through adaptive & people-centric processes.
Transform cost centers into drivers of value, eliminating inefficiencies from the processes.
Synergize people, processes, and technology, making compliance a strong fundamental for business.
Channel financial data to bring out business and financial insights to enhance audits.
Enable organizations meet accounting needs through operational & technical expertise.
Build data-centric processes for the implementation of audit inspection activities.
Deliver custom audit services to navigate through complex compliance challenges.
Strengthen control procedures, standardize operating processes, and increase reliability.
Create smart governance frameworks that manage risks and stakeholder trust.
Streamline strategy and create growth opportunities to surpass financial goals.
Help organizations navigate the complex rules governing tax and transfer practices.
Turn leads into clients, build effective strategies, and improve brand visibility.
Simplify the complex cross-repository processes to develop a path to improvement.
Help organizations shore up liquidity and key check performance indicators.
Design and deliver software products & platforms, modernize existing processes.
Uncover business insights from data across processes and systems.
Automate business processes, embed analytics for real-time decision making.
Draw the roadmap for implementing solutions across diverse business functions.
The novel coronavirus has imposed a significant cost on the global economy and has brought many unforeseen challenges for businesses. While many industries are severely impacted by the Covid-19 recession, the retail industry is uniquely placed as it offers a wide range of products from daily necessities to premium luxury products. In 2020 U.S. retail sales grew at 0.31% from $6.19 trillion in 2019 to $6.20 trillion as per estimates made by the U.S. Census Bureau.
The Covid-19 driven mass anxiety elicited panic buying and hoarding of daily necessities as consumers lined up outside supermarkets & retail outlets. This sudden surge of demand created further uncertainties in the demand and supply chains in the retail industry. In the last week of March 2020, California, Connecticut, Illinois, Michigan and some other states went into their first lockdown. In the last week of March 2020, California, Michigan Connecticut, Illinois and some other states went into their first lockdown which impeded sales generation. As a result, in April 2020 retail sales dropped to $409.82 billion, a decline of nearly 22% from the pre-pandemic estimates of $526.93 billion for Jan 2020.
With the opening of lockdowns and easing of restrictions, retail sales started to show signs of recovery in May 2020 and reached $526.86 billion in June 2020. During Jun-Oct 2020, retail sales continued to grow gradually but from October onwards as the Centers for Disease Control and Prevention (CDC) started to report a rise in new cases which was followed by the second lockdown in New York in December, retail sales were hit and fell for 2 consecutive months.
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