Helping the Tech sector get Back to Better

While the uncertainty of COVID-19 has sent waves around the world, technology companies are focused on ensuring the viability of supply chains for the movement of critical supplies, overseeing the efficacy and security of the technology framework and empowering employees to support customer and business needs.

Top immediate impacts

Considering these surging circumstances, technology companies are grappling with issues disrupting the industry including:

• Complex and fluid international mobility restrictions governing access to data centres and operating centres
• Technology infrastructure to support spiking demand from healthcare, telework and e-retail, remote learning and more
• Dramatic shifts in services delivery models driven by remote work requirements
• Retention of top tier talent
• Surge in capacity demands from remote operations
• Disruptions in supply from international partners
• Unanticipated cancellation or slow renewals of contracts
• Liquidity issues at the company and with ecosystem partners
• Emergent cash needs and application for funding sources for smaller tech companies

Key things to be aware of

Business supports from LEO/MFI, EI and SBCI

Key supports available to help businesses cope with the liquidity challenges posed by the COVID-19 restrictions.

COVID-19 Supports for Employees

A summary of the supports available to employees with a focus on Illness Benefit, the Pandemic Unemployment Payment and the Short Time Work Support.

COVID-19 Employer Supports

A summary of the Temporary Wage Subsidy Scheme available to employers.

Cyber Security

Cybercriminals are taking advantage of the COVID-19 panic, targeting individuals, corporations, governments and industries in Ireland and around the globe. Phishing campaigns in multiple languages suggesting a COVID-19 cure, linking to fake World Health Organisation advice websites and offering up guides as attachments are all designed to separate users from their usernames and passwords, capture personal and sensitive information and deny users access to their systems. Find out more

EMEA VAT specific measures

Due to the impact of COVID-19, many countries across the globe are offering various reliefs for paying and reporting VAT. Please find outlined below an update of measures in the EMEA region. As announcements are being made daily, this high level overview document will be updated regularly but we cannot guarantee completeness. Find out more

Workforce restructuring

As the economic impact of COVID-19 becomes clearer, many businesses may be faced with the prospect of restructuring their workforce to survive in the longer term. Our workforce restructuring services team are a group of professionals who specialise in employment taxes, pensions and reward. Find out more

What technology executives should consider as needs evolve

Immediate

• Protect the safety and well-being of employees
• Communicate clearly and transparently with stakeholders
• Focus on ensuring access to operating and data centres
• Preserve and manage cash flow
• Access recovery funding assistance
• Track and document support for recovery funding
• Identify and request technology infrastructure funding
• Treat recovery funding as a project and manage all potential funding sources together (Insurance, CARES, etc.)

• Quickly tailor existing technology products and services to solve the COVID-19 issues. Co-creating with customers and government organisations using their enhanced domain know-how
• Maintain a positive customer experience in new realities of COVID-19 by more proactively managing customer expectations and communicating your plans. Consider additional customer support team/processes to bolster these efforts
• Recognise the shift from crisis, recovery and beyond and invest aggressively to build strategies around the changing realities. Address the interim and sustainable market and behavior changes based on recovery dynamics and timelines

Long term

• Ensure remote workforce engagement, morale and productivity
• Continue program of clear and transparent communications
• Develop and document lessons learned to enable future product and service development
• Reprioritise targeted customer segments by focusing on those sectors that can quickly benefit from economic and market recovery policies and programs by staying close to customers to understand how industries may shift during this time of great uncertainty.

How we can help

We work with hardware, software, communications, semiconductor and business services companies in the areas of finance, sales and marketing, domestic and international operations, performance improvements, cybersecurity and data privacy, risk, tax and IT. Specifically, we can:

• Assist with a COVID-19 business risk assessment
• Identify cash management and other strategies needed for the near term
• Support reassessment of business continuity and business optimisation plans
• Work with you in any way that will assist you work through today’s challenges but also prepare for a customer-led recovery