Fast access to finance is central to Barclayss continuity planning
With a business model that hinged partially on face-to-face client interactions, Perth based consulting firm Barclayss rapidly pivoted into virtual technologies such as Zoom to stay afloat in the immediate aftermath of government-regulated COVID-19 lockdowns earlier this year.
The consulting firm that uses behavioural science to provide organisational culture and human performance coaching to companies in Australia and globally was also able to collaborate rapidly with OnDeck to access funds for several purposes as the pandemic gripped.
John Barclay, Managing Director, Barclayss
John Barclay, Managing Director, Barclayss said, “The funds from OnDeck enabled us to keep our people employed while waiting for JobKeeper to kick in, and it also allowed us to buy technology to run our services virtually.”
He continued, “We made a decision early that we wanted to invest in quality audio and lighting equipment and sound proofing to ensure we provided our clients with an excellent online coaching experience.
“We basically set up a production studio with separate rooms allocated for Zoom meetings, another for podcasts and a video production.” Barclayss also invested in high-quality microphones and a professional production camera and in total the consulting firm invested $28,000 in developing an inhouse production studio.”
The impact of COVID
On the business of providing organisational cultural advice to firms across the globe, John said COVID-19 had wide-ranging implications and opportunities for his firm. “There are many impacts on the cultures of businesses during COVID. Some have been positive such as flexible working arrangements, trusting employees to work autonomously, and more care for people’s wellbeing.
“On the flipside less team face-to-face interactions, employment uncertainty, anxiety, reduced communication and for some the separation from families to stay employed have had negative results.”
At Barclayss, COVID-19 directly impacted the consulting firm’s ability to service its clients face-to-face. Their clients include some of the biggest mining, resources, and manufacturing companies in Australia and globally. “This meant we couldn’t run workshops and onsite coaching modules,” John explained.
However, rather than throwing up their collective hands in despair, the team at Barclayss immediately took steps to access technology to stay connected to its clients. “Using virtual technologies enabled us to continue the momentum we had developed with our clients in terms of maintaining their cultural advances and leadership development.
“Investing in our production capabilities and virtual technologies will also help us fast-track our plans to expand into Indonesia, Singapore, Malaysia, Philippines and Hong Kong.”
Focusing on the recovery phase
With restrictions easing in Australia at least, Barclayss is focusing on providing its clients with a flexible service offering that will include a hybrid of virtual and in-person contacts. “We are now providing our support in different ways so our clients can choose how best to engage with us,” John explained.
Moreover, the balance between having cash in the business and accessing funds at short notice is fundamental to Barclayss business continuity plan.
“In this regard, OnDeck is very flexible and responds quickly. Being able to access funds within 48 hours allowed us to pivot quickly and get ahead of our competitors. They have been great to deal with.”
And John’s top tips for maximising the business recovery phase?
- Embrace flexible working arrangements
- Embrace technology to better service clients
- Ensure you have a surplus of funds to manage any other impacts on the economy.
Get in touch with OnDeck today to find out about funding options to help finance your business’s recovery planning.
If you want learn more about how culture can transform your business, visit Barclayss at www.barclayss.com.
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Prepared by OnDeck Capital Australia Pty Ltd ABN 28 603 753 215 (“OnDeck”) for general information purposes only. Content may belong to or have originated from third parties and OnDeck takes no responsibility for the accuracy, validity, reliability or completeness of any information. Information current as at October 2020. You should not rely upon the material or information as a basis for making any business, financial or any other decisions.