Echo’s From a Prior Crisis

As we transition to our new website, we are looking forward to sharing more information around our work, and our continued growth in both our consulting and advisory business along with our solution development in speech analytics.  I would be remiss however if I did not first welcome Thorn Phipps to Soho2 as our Chief Revenue Officer.  Thorn has great experience working with clients with complex information environments, and how to align those needs with the right advisory and technical solutions.  I am sure you will all be hearing more from him soon.  

Before going further I also did want to recognize the pain many families have experienced, and our gratitude for all those that are serving their communities and trying to keep us all safe and healthy.  We find ourselves concerned about our employees and consultants and their well-being, and like many businesses are adapting to a fully virtual model.  We are fortunate to be able to support our team and our clients in this new model, and have been really surprised how quickly people adapt.  

We are currently working with medical device, bio-research, and health insurance companies (among others), and it caused me to reflect on working with large financial services firms during and after the Credit Crisis.  Setting aside the underlying causes, the Credit Crisis put tremendous strain on technology, legal/compliance, and business teams to respond to complex and dynamic requirements.  Many of these teams had been leading fairly quiet professional lives one day, and were thrust into the forefront of headline risk, investigations, and huge needs of their client-base just a few months later.  People also probably do not appreciate how those forces lasted for several years after the crisis itself had passed. 

Our current clients in the broader healthcare industry are facing the same challenge.  These clients were leaders in their industry before our current crisis, but few were household names; nor did they produce or distribute products most people would recognize.  Now they are at the forefront of delivering products and services that are critical to the health and well-being of…well…all of us.  And just like the prior crisis, these teams that had been living fairly quiet professional lives one day, are now rising to this tremendous challenge.  We are privileged to work with these great clients at such an important time.

In my next blog I will provide some thoughts on what some specific lessons we learned during the last crisis, and they portend as we emerge (and we will) from this current crisis.

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