COVID-19 and Budget Allocations
To provide examples of how a company's budget allocations may be impacted by the COVID-19 pandemic with a US focus, to expand globally if necessary
To understand how the Federal government's COVID-19 stimulus package will impact tech companies with any expected or predicted examples
Our preliminary research on the impact of COVID-19 on a company's budget allocations revealed insights. Here are the key pieces of information we found:
COVD-19 and Budget Allocations
- BDO is a company that delivers assurance, tax, and financial advisory services to clients throughout the United States and around the globe. This company is identifying measures for controlling budgets and increasing cost savings, such as assessing the possibility of outsourcing or reduction of non-critical business activities during the COVID-19 pandemic. In doing so, they are also re-prioritizing the budget allocation of resources to unaffected business lines.
- Inner Mongolia Yili Group, a leading Chinese dairy company, has continued to adjust their budget allocation during the COVID-19 pandemic to reflect regional differences in expected recovery speed, consumer sentiment and needs.
- Infosys, Wipro, TCS and Tech Mahindra , leading companies in India's IT-BPM industry, may have their budget allocations impacted by the COVID-19 pandemic by delaying allocations to new programs. According to Kotak Institutional Equities, “For now, clients across verticals have not pulled projects or programs. However, this could change since allocation of budgets to new programs starts picking up pace in March and April."
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