Over the past year, every organisation has had to transform some part of itself. While these changes may have been significant in some cases, and others not so much, the fact is that businesses with a long-term future always need to be adapting.
Whether your organisation requires strategic transformation, a boost in your Unified In-Country Value score or business set up services; this is the time to start making those things happen. Otherwise, you aren’t going to be prepared and you will wake up to find that the competition has zoomed right past you. To help ensure that doesn’t happen, read on for the business services that will help you thrive in the post-COVID world.
1. Strategy & Transformation Services
There is no denying that the post-COVID world will look very different than it did before, meaning that only companies who have transformed with the times and strategised for the future are going to make it through. Therefore, some of the most critical business services for your organisation are in the realm of strategy and transformation.
Some of these services include Strategic Review, Organisational Transformation, Market Entry, Cross-Border Expansion, Feasibility Studies, and Process Improvement. While your company may require these services at different times, depending on your current needs, the consistent factor is that each of these services helps your organisation be more agile. This is crucial if you are going to be able to act upon opportunities and dodge threats quickly.
The best strategy and transformation consultants will work with you to define your strategic goals, help you analyse and define your objectives, and aid you in formulating the necessary resources. These experts are skilled in designing, implementing, and evaluating strategy, ensuring that you are always up-to-date on relevant market insights and related targets.
When considering employing Strategy and Transformation services into your organisation, make sure you choose a firm that prioritises working collaboratively. This is crucial if you are going to have the most effective and efficient working relationship possible. Additionally, you want these experts to be skilled in helping businesses become more streamlined and cost-effective, as this will significantly impact your ability to regain your market share post-COVID.
Finally, a firm that can also offer you access to a broad network of resources and connections is highly valuable. By partnering with them, you will find that you are in a much better position to make decisions in your business’s best interests.
2. Unified In-Country Value
Certain programmes and initiatives around the world are going to be instrumental in aiding economies in bouncing back from the devastating impact of COVID-19. Companies involved in these programmes and initiatives are also more likely to find themselves in a better position than those who don’t reach out for the opportunities.
For example, Abu Dhabi has the Unified In-Country Value (ICV) programme. The purpose of this ICV programme is to further localisation by encouraging the sourcing of products and services from within the UAE, creating more employment opportunities for UAE nationals in the private sector, and diversifying the country’s Gross Domestic Product (GDP).
Over the past couple of years, this programme (established by the Abu Dhabi National Oil Company (ADNOC)) has grown to include the Abu Dhabi Department of Economic Development, Aldar Properties and Abu Dhabi Ports.
In order to obtain an ICV certificate, your company has to reach out to one of the ADNOC ICV certification agencies (such as MBG Corporate Services) who can assist you in quickly and seamlessly receiving the certification. These experts are equipped with everything you need to help you achieve the optimal ICV score. This, in turn, will strengthen your position in bids.
If your company is located in Abu Dhabi and looking to be a part of the Unified ICV programme, you want to prioritise having high-quality, reputable Unified ICV services. What is more, look for a company that offers the certification assignment remotely or offsite, ensuring that you can start the process as quickly as possible.
3. Business Set-Up Services
If you intend to set up a new business in the next few months, then it is crucial that you invest in business set-up services that help you strategically plan each step of the way. No matter what industry you are looking to operate in or where your business will be located, setting up a company is a complex process.
Therefore, the best business set-up services provider will help you design a strong project management system and a comprehensive action plan. They will also ensure that you have all the knowledge required to set up the business, including the relevant local procedures and necessary connections to facilitate legal proceedings and documentation. These areas are especially critical if you are looking to set-up a business in a different country as you will not have the experience and in-depth knowledge required.
The best business set-up services include everything to do with Company Formation, Corporate Sponsorship Services, Company Liquidation Services, and Corporate PRO Services. Some of the necessary end-to-end services required for Business Setup include documentation, legal procedures, supervising negotiations, managing public relations, and addressing visa issues.
Additionally, you want to work with a corporate services provider with a strong reputation and years of experience in dealing with the pertinent policies and processes. It is only with this level of expertise that you can be assured that a potential corporate services provider has the tools and knowledge required to bring your business into the post-COVID world and have it thrive.
In addition to these business services, your company may also benefit from Audit & Assurance, Mergers & Acquisitions, Technology Advisory, Legal Advisory, and Risk Advisory services. All of these services are critical to ensuring your company is in the best possible position to grow and thrive over the next few years.
What do you think are the most essential business services that companies need to receive in order to thrive in the post-COVID world? Are there any on this list that you are looking to implement into your organisation? Or are there other challenges and tasks you are prioritising? Let us know your thoughts as well as any additional questions in the comments below!
Naresh Manchanda is a Partner at MBG Corporate Services, an international organization supporting clients across Asia, Europe and the Middle East and providing sustainable solutions and strategies that drive business transformation. Established in 2002 and headquartered in Singapore, MBG is a 450-strong member team that operates out of Europe, the Middle East and Asia, providing Legal, Risk, M&A, Tax, Strategy, Technology and Audit Services.