With few exceptions, most businesses have been adversely affected by both the virus as well as the associated government restrictions.  When exactly the repercussions of Covid-19 will end, one can only speculate of course.  However, with the anticipated imminent release of the Covid-19 vaccines,  the new administration’s desire to end the recession  and the pent-up energy of people to start anew…whenever it is, it may very well come faster than you had anticipated.

Hence the question, “Is your private investigation / risk management business prepared for Post-Covid 19?”  When business picks up quickly after a long lull, you are often vulnerable to breaches in process, controls are sometimes circumvented and what was a “routine” process is no longer routine at all.

CROSStrax™ has a few suggestions for private investigation / risk management businesses to be prepared for the possible spikes in sales / case volume…

  • Reinforce your policies, processes, and controls to your operations team, emphasizing their applicability and importance…the rust of inactivity needs to be pre-empted
  • As volume returns, you may find that your receivables increase to higher than usual levels…be prepared to have the financial liquidity (bank loans, money management etc.) both to carry those receivables as well as to fund increased operating costs. For many, money was often already tight during the recession.
  • If you experienced layoffs during the recession, stay in touch with those employees you might plan to or would consider re-hiring
  • As you ramp back up, resources may be constrained. Be very deliberate in managing the expectations of your clients

Finally, we would be remiss if we did not emphasize a tool that we believe can help with much of the above, i.e. CROSStrax itself…

  1. The embedded controls and procedures help ensure that you continue to produce quality even as volume spikes. Avail yourself of the system’s many positive attributes
  2. If CROSStrax already interfaces with your accounting system (e.g. QuickBooks), timely information can be posted to help run the business and indirectly provide real time data points to incorporate into money management planning
  3. CROSStrax’s interface with The Investigator Alliance and their many investigator resources available for outsourcing, could be a valued resource as volume increases
  4. The consistency it offers (e.g. reporting, time management etc.) will assuage any potential customer concerns that you can handle the volume and that you are on top of your business

Reputations take years to establish but can be lost in a flash.  Stay ahead of the curve.  Be prepared!