The past few months have been difficult for everyone and this includes the financial world. Simon Peel formerly of Jitterbit is an industry expert and he is here to make sure that small business owners understand how the pandemic has impacted small businesses and those who are in the financial world. As numerous businesses start the process of reopening, it is important for everyone to think about how they are going to be able to give their business the best chance to be successful. According to Simon Peel formerly of Jitterbit, the pandemic is going to be with us until we have a vaccine.
Simon Peel formerly of Jitterbit Discusses Breach of Contract Cases in the Legal World
According to Simon Peel formerly of Jitterbit, one of the biggest issues that is facing financial organizations is the growing threat of breach of contract cases. The pandemic has disrupted revenue streams and supply chains. This could make it hard for organizations both large and small to hold up their ends of their contracts. As a result, a civil lawsuit might be filed stemming from breach of contract cases. According to Simon Peel formerly of Jitterbit, it might be possible to invoke something called a Force Majeure clause to avoid cases of breach of contract; however, companies should seek professional legal advice to understand how this clause might be employed.
Simon Peel formerly of Jitterbit Discusses the Potential Impact of Shifting Regulations in Jurisdictions
Another major impact that financial organizations will have to face, according to Simon Peel formerly of Jitterbit, involves shifting regulations. As many cities and states start to reopen, others are keeping restrictions in place. According to Simon Peel formerly of Jitterbit, this could make it hard for companies to keep up with the disparate regulations from city to city and state to state. It will be interesting to see if businesses and especially financial organizations are able to keep up with these shifting regulations as they evolve
Simon Peel formerly of Jitterbit Discusses the Role of Remote Working and Transactions
It is also important to note that one of the biggest shifts in the financial world stemming from the pandemic involves working remotely. Now, many people are working from home and even more, people are shopping from home. According to Simon Peel formerly of Jitterbit, online sales are poised to surpass sales from brick and mortar locations. Therefore, those who are looking to succeed in the current environment need to make sure that they are set up to handle remote employees and electronic transactions. Simon Peel of San Francisco says this is going to be a shift that is here to stay.