CFOs can use the current crisis to identify and mend weak or ineffective processes in the finance division, Bain & Co advised in a recent publication.

“The disruption created by the coronavirus will test how much progress CFOs and their teams have really made,” said Michael Heric, partner with Bain & Company in New York.

Heric and his colleagues suggest that processes that rely on “tribal knowledge” or “workarounds” will stand out amid the crisis and CFOs should not pass up on the opportunity to fix them, creating value when things normalize again.