While most organizations have business continuity plans in place to navigate crisis situations, the unknowns surrounding COVID-19 and its duration are making it difficult to map a clear path forward.
In the matter of a few weeks, the pandemic has upended operations for many businesses and required more employees to work remotely than ever before. Many of these new remote workers will likely need equipment and supplies to perform their duties from home. In fact, some of Oversight customers have started to see evidence of this and have created COVID-19 or crisis management expense types to manage this new spend pattern. We’ve also seen companies make policy changes, including adjustments to spend thresholds.
At Oversight, we’ve evaluated our data and compiled preliminary research to assess how employee spend could be affected and how you can prepare to manage emerging risks. You’ll find our key takeaways outlined in this new perspective, “COVID-19 and Employee Spend: 5 Changes to Plan for Now.”
These are certainly unprecedented times, and we are here to journey with you through this uncharted terrain. You can expect more insights from us in the coming weeks. Until then, stay well and know we are available to support your spend management needs at any time.