Due to the Covid-19 virus, Scrive has activated its Continuity Plan
Questions and Answers
What is your current status in regard to Covid-19? Any impact on your business?
The current status is that all personnel are working remotely and none of our current employees have been affected with the Covid-19 virus. Please read the information below for more details.
Have you taken any mitigating actions due to the Corona virus?
We have been preparing for the Covid-19 virus officially for a few weeks (Today 2020-03-12).
March 2nd we announced our new policy and directive due to the Covid-19 virus, aligned with “Folkhälsomyndigheten”’s directives.
March 5th we instated a strict travel ban and attendances to conferences and decided that all meetings with external audiences should be held over video conferencing.
March 10th at 16:00 CET the management team communicated at a company-wide meeting that we will work remotely as of March 11.
Do you have a crisis or contingency plan in place?
Yes, Scrive has a business continuity plan including a contingency for the event of a pandemic. This plan has been put into effect.
Have you activated a crisis or contingency plan?
Yes, as of March 2nd, Scrive executed our business continuity plan and on March 10 at 16:00 CET the management team communicated in a company-wide meeting that Scrive will work remotely as of March 11.
As a software company where half of the employees (Engineering team) are already remote and as part of our planning Scrive business operations have remained unaffected. We have established remote work procedures for teams that normally work on-site, modeled after procedures used by the parts of the organisation that regularly work remotely.
What are your plans to manage personnel shortages or other issues (due to a pandemic)
Most of our staff are distributed between engineering and sales teams. A shortage of staff in Service Operations, Support and Customer Success would affect our customers the most. But Service Operations is already distributed and we have several possible interim solutions within several other parts of the company. If we come to a situation of staff shortages we will move employees between departments and our acquisition of new clients and our new development will be affected first.
What is the financial impact, if this persists for an extended period of time?
We have not yet seen any financial impact on our business but we are monitoring the development closely. New forecasts and financial models are being implemented taking various scenarios into consideration. Scrive is also reviewing all our costs in order to be prepared if we need to act. Being a fairly agile and “slim” organisation already, we see no need to downsize in personnel. However, costs for traveling and event attendance are already substantially down since a few weeks back and will continue to decrease as we refrain more or less completely from traveling and physical meetings.
Our business model is subscription-based with yearly (or longer) contracts where payments take place upfront. This reduces our financial risk significantly. Short-term we will likely see a decrease in demand from the market and delayed decision processes within our potential customers’ organisations. As focus shifts and investments are being delayed, this will very likely have an impact on Scrives revenue generation during the coming months.
We specifically expect point-of-sale and field sales channels to be negatively affected because of the current situation. Given that this is a segment where Scrive has a very strong footprint, we need to carefully assess how a decrease of visits and orders in these channels might affect Scrive going forward.
On the other hand, we do also see the potential for decisions to digitize agreement processes and other workflows happening faster due to the current situation, where face-to-face processes are being transferred into digitized processes (and the need for e-signing and e-identification increases).
In the longer term, a solution like Scrive is an enabler for digitalization and distributed work, meaning it could speed up the market development and therefore potentially affect our financial situation positively.
Scrive will do everything in our power to secure financial stability and future success for us as a provider, business partner, employer, etc. However, times like these calls for reflection, and as a final note, we wish to focus on what is most important:
We wish to send our thoughts to all of those who have so far become affected by this situation. Also, we want to advise everyone to take extra care of yourself and your loved ones, taking all the measures necessary to minimize the continued spreading of COVID19.
With warmest regards from the Scrive family,
Please contact: Viktor Wrede, CEO [email protected] +46708884749