There is no doubt that the tide is starting to shift, and we are finally navigating on a path of recovery. Many of the changes that businesses have had to adapt to will perhaps never be reversed. At least the need for continual adaptation will persist long after this pandemic is restrained. We cannot pretend that once vaccines are rolled out, all the uncertainty and change will vanish.

While most businesses we are working with have managed to surge forward with solid optimism, it is still challenging for them to set firm budgets and forecasts 6 and 12 months out. We like to rely on historical data and 'precedence.' Still, now more than ever, we are relying on our industry smarts and vital business partnerships to ensure relevant information is being fed through to finance.

I asked our Accountant, Eleanor, to comment on her own experience and share her insight on this:

"Throughout the uncertainty of 2020, the constant amongst successful businesses was adaptability, coupled with a progressive mindset. This fluid approach of thinking outside the box, developing new ways to serve existing customers, and beginning to help new customers is embedded within the culture of those workplaces that thrived during this period.

With uncertainty comes the opportunity to expand or change the products or services that businesses offer; to identify new markets and analyse internal processes, ensuring they remain the most effective operational strategy for a company to thrive. A strong finance team will help a business understand how to track, identify opportunities for improvement and help drive necessary change.

2020 taught us that 'doing what we've always done' will likely not be enough to see businesses prosper and grow. Strong relationships with clients and suppliers will be vital to success moving forward. Companies must work to understand their clients' specific needs and then be adaptable enough to ensure their demands are met.

COVID19 may feel as though it's over, but the need to continually put effort into our clients' relationships is certainly not. By understanding what clients need, and the challenges that they are facing, we can ensure we remain essential to our business partners. Strong relationships, coupled with targeted, accurate pipelines, can provide some level of certainty when forecasting for the year ahead.