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BW Businessworld

Outsourced Professional Services: Impact of Covid-19

Rajeev Sharma (Managing Director, G4S Secure Solutions India), Rituraj Sinha (Group MD, SIS Group Enterprise) and Manjit Rajain (Global Chairman, Tenon Group of Companies) shared insights on how the Outsourced Professional Services will be impacted by the pandemic and what lies ahead of them.

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BW Businessworld, the Indian business magazine, hosted its first webinar on ‘Outsourced Professional Services - Impact of Covid-19’. It was moderated by Annurag Batra, Chairman and Editor-in-Chief, BW Businessworld.

Rajeev Sharma (Managing Director, G4S Secure Solutions India), Rituraj Sinha (Group MD, SIS Group Enterprise) and Manjit Rajain (Global Chairman, Tenon Group of Companies) were the panelists. They shared insights on how the Outsourced Professional Services will be impacted by the pandemic and what lies ahead of them.

Rajeev Sharma righty mentioned that the large companies are better equipped to deal with the situation. He said, “I am positive about government policies and that it will soon come out with the next set of stimulus package and I am also hopeful that the industry will get some relief package from Finance Minister in the next release.”

To help the small and medium enterprises Sharma suggested that the government and banks should start giving working capital loans to SMSEs so that they can pass through these tough times and can handle their cash flow challenges.

It’s a fact that the Indian economy has been hit very hard by Covid-19. Like most sectors, even the Security Services industry has been impacted. But Rituraj Sinha, Group Managing Director, SIS Group Enterprise feels that the economy will see a V-shaped recovery, similar to the crisis in the 1990s and in the ‘2000’. And why does he think so? Because all the right indicators are available and the government is handling the crisis well among other factors.

“We will have a V-shaped recovery as all the indicators are available. India will come up with reasonable fiscal stimulus measure to back that up,” says Sinha while participating in the webinar.

The world is going through uncertain times due to the disruption created by the Novel Coronavirus. While businesses are everyday planning, re-strategizing to stay afloat, Outsourced Professional Services have also been dealing with the same crisis.

Manjit Rajain, Global Chairman, Tenon Group of Companies, a manpower and facility management firm based out of Gurgaon, said, “While automation has been happening over the past three years, each year this technology has been gaining momentum and size. In the COVID-19 world, it will expand at a phenomenal pace. So, remote monitoring, automation, use of sophisticated security equipment, contactless security will be growing and due to COVID-19, it is going to accelerate much faster. Remote monitoring would be a practice more than a norm.”



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