With every market high comes the inevitable fall, where oil markets see the price per barrel plummet or banks decide they are too big to fail. The economy has been on an upswing throughout the last decade, with some turbulence seen only in the energy industry. With an extended bull market like the one we are experiencing today, it can be easy to forget about the rough days during the financial crisis in 2008. For the oil industry, it has only been a few years since the last downturn. Still, market results have been largely positive. We are excited to celebrate the success of so many clients throughout this incredible bull market. While we hope this run never ends, we are not naïve to the inevitability of the next market fall. Here at Rand Group, we have been hard at work to ensure our clients are equipped to succeed in the face of an extended bear market.
Here are some ways Rand Group is preparing to support your company during the next market downturn:
1. Relevant, Reliable Analytics
Rand Group has taken efforts to bolster our Analytics solutions and we are proud to offer BI360, Power BI, and Jet Analytics reporting solutions. During a market downtown, we understand your objectives may shift from revenue growth toward more cost-cutting activities. Rand Group wants to provide a comprehensive technology solution during a market slowdown, and Analytics are crucial in achieving that goal. Without the ability to quickly access relevant, accurate reporting data, it is difficult to make well-informed decisions. A market crash is not the time to be making critical decisions with inaccurate data. Our Analytics solutions will ensure you have access to reliable reporting data to help make those crucial cost-cutting decisions.
2. Socially and Economically Aware Consultants
At Rand Group, we have taken steps to prepare our consultants to be socially and economically aware. Through training and regular economic updates, Rand Group consultants are well-equipped to ask the right questions and direct their focus to the critical needs of each client. We understand your company’s focus and goals may change during a downturn, and we want to aid in making the transition as smooth as possible.
Additionally, our consultants understand the sensitive nature of a bear market. When people lose their jobs, everyone is working overtime, and deadlines remain unchanged, it is a stressful time. Be assured, we understand. Many of Rand Group’s consultants were formerly in industry, and have experienced first-hand the bank collapse of 2008 or the oil crash of 2015. Our well-trained consultants are empathetic to the difficult situations companies face during a bear market, and they are prepared to help.
3. An Arsenal of Automation
Layoffs and cost-cutting may positively affect the bottom line, but there remains the challenge of doing the same amount of work with fewer people. While this is never an ideal situation, it is often the reality in a market downturn. Rand Group has prepared automation processes across each software platform we work with in order to allow the limited resources at your company to operate more efficiently. Additionally, built-in controls will minimize risks of fraud and error, which may become more prevalent as companies experience mass layoffs.
We Want to Help You Succeed
When market conditions are favorable, it can be easy to forget that there may be challenges ahead when these conditions change. At Rand Group, we truly value our clients and take efforts to undertake meaningful partnerships. We would love to help you achieve your goals and prepare your company to thrive in the face of inevitable tough market conditions. Contact our team today for more information about the services we offer that can help you succeed no matter the market environment.