22 Mar 2020

COVID19 Effects

Extraordinary Times Call for Extraordinary Measures by

22 Mar 2020
COVID19 Effects

Extraordinary Times Call for Extraordinary Measures by Extraordinary People

DCARPE Alliance Association sincerely hopes and prays that all of its members and their families are safe and healthy during this period.

Our hearts go out to all of the doctors and nurses who are selflessly putting themselves in harms way to treat the COVID19 Pandemic.

Needless to say, we are experiencing unprecedented economic turmoil as the result of the effects of COVID19. Responses by governments, regulatory agencies and central banks to this crisis will have long lasting and controversial effects.

Our work at DCARPE Alliance Association is not just about process. It is about the global macroeconomic effects of new processes and methodologies.

The enterprise world is experiencing massive business interruption. Current events are also teaching us a lesson. Transformation is no longer an option and is critical for survival. The actions you take and the plans you implement will have critical and profound implications going forward.

The concept of decentralization was difficult to contemplate for many managers of larger enterprises. We believe that the unfolding of current events may prove to be a catalyzing moment and will play a critical role in the evolution of global finance and economics.

There will be many silver linings to the spike in unemployment. Those remaining under employment will play a critical role in recreating the global economy but those who depart will become critical partners in an ever increasing globally decentralized programmatic value chain.

At this time, DCARPE Alliance Association wishes to recognize the efforts of those who are on the front lines during this period.

Human Resources – HR managers are always under pressure. The weight of rapidly shifting and destabilizing conditions is forcing HR departments to act as triage managers. They are the superheros of every enterprise.

The Office of the Chief of Finance – CFOs are forced to make some of the most difficult planning decisions. They will play a new role in business execution going forward. CFOs are the heart of the financial engine of every enterprise.

Risk Management – Risk management is the key to survival in every enterprise. Cooperation and collaboration is critical. Their recommendations need to be taken seriously. Decentralization will play a critical role in destabilizing, mitigating and foreseeing oncoming risk.

Internal Audit – Stakeholders depend on impartiality. Proof of assurance and integrity of financial operations are critical to confidence. Independent thoughts and actions form leadership in internal audit will help restore confidence.

Financial Reporting – Financial disclosure will play a more critical role not only for investors but all actors across critical information supply chains. Real time financial state disclosure must become the new normal.

External Audit – Sound global capital markets are dependent upon sound global external validation methodology. The assurance of many rather than the opinion of one will avoid conflict, restore confidence and mitigate global systemic risk at every level of the economic stack.

Despite the hysteria we wish to draw your attention to all of the recoveries in history that have followed economic turmoil. These recoveries do not occur naturally. They are the product of foresight, brute force determination and innovation.

Our economic future depends on the ever increasing ingenuity of our members, their partners and the support of their families. It also depends on the ability to shed old ideas in exchange for new ones.

“If you do what you’ve always done, you’ll get what you’ve always gotten” – Anonymous 

Stay tuned for email updates. Follow us on TwitterFacebook and LinkedIn.

Sincerely,

DCARPE Alliance Association Membership Team

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