By Ray Dufresne
Access to new capital spending over the past year has been severely limited. Organizations have been understandably cautious about overextending and depleting their resources. When the inevitable economic rebound occurs, will corporations be strong enough to regain a solid footing?
The answer to that question will depend on what actions they take today. Forward-looking, strategic organizations are taking steps now to best manage the current economic situation and also prepare for the rebound to come. As the economy continues to improve in 2011, it will be a strategic advantage to have readily available facility condition information that will enable rapid and decisive action. Gathering the necessary data after the economy improves will take time and result in critical delays.
For example, last year’s economic stimulus funds demonstrate a benefit to being prepared. To jump-start the economy, the federal government made billions of dollars available for “shovel ready” projects that could begin immediately. Agencies and state governments who were the most prepared were able to secure a larger share of the available money. Although the capital available to every organization will not be in the billions, those that are most prepared will be able to successfully leverage new funding.
Is your company ready to take advantage of the rebound?