Companies in Europe: Impact of the pandemic worse than expected
23 August 2021
200 executives surveyed for the "BDO Global Risk Landscape 2021" study
For many European companies the consequences of the Corona pandemic are worse than originally expected in April 2020. This is one of the results of the "BDO Global Risk Landscape 2021", for which BDO surveyed around 200 executives of successful companies on in Europe.
Modern technologies with predictive analytics played a key role during the crisis: Only 16% of European companies use technical tools for risk identification and assessment so far. As a result, many companies were not sufficiently prepared for the impact of a potential crises - and are still not today. Accordingly, the most common response to the crisis so far has been to invest in appropriate new technologies or to accelerate the digital transformation in the company.
More than a third of the executives admitted that they felt increased pressure because their company was not up to date regarding technologies and digitalisation. In contrast, European companies best equipped for the future are those whose managers were and are prepared to accept risks and who have continuously invested in the latest technology.
Download the results of the European edition of the "BDO Global Risk Landscape 2021":
You can access the global study here.