Covid19 – How cloud based accounting solution can fight coronavirus lockdown

The global economy is reeling under the stress of Coronavirus, the pandemic that has reached 193 countries, impacting the livelihood of people worldwide.

With more than 7, 81,842 positive cases and about 37,000 deaths from COVID-19 across the world, the real concern is how to control the number of patients which is multiplying by the hour. To contain the spread of this highly contagious disease, towns and cities in India have been forced into a lockdown.

As social distancing and staying at home is the best solution to contain this deadly virus, all businesses — big or small, are finding it difficult to run smoothly. This situation has shattered world economies and trillions of dollars have already been wiped away as markets have tumbled uncertainty looms large.

Trying times for businesses
The businesses are walking on a tightrope; on one hand, they have to ensure the safety of their workforce, whereas,

on the other they cannot afford to falter in accounting and compliance. The pandemic has brought about an unprecedented crisis in the companies. But, a good business leader is one who is able to navigate successfully during such adverse twists and turns.

A silver lining for companies
While a majority of small businesses are finding it impossible to manage their team, allot work or even oversee accounting and compliance, those companies which have opted for Xero-based compliance solutions, are faring well.

Leave a Reply

Your email address will not be published. Required fields are marked *