GetSwift Limited (ASX: GSW) (‘GetSwift’ or the ‘Company’), a leading provider of SaaS logistics technology, today released the following letter from its CEO, Bane Hunter:
Dear shareholders, partners, clients, and team,
We wanted to share some of the actions the company has taken and will be working on with regard to the novel coronavirus response and impact.
As we first learned about the virus discovered in Wuhan that spread to surrounding areas in China, we evaluated the possible range of impact and the emerging social, medical, and commercial requirements that might follow. We took into consideration numerous factors, including the varying impacts it might bring to clients in the global regions we serve. The company then developed and deployed early on our response plan to the emerging challenge.
We are writing this with the hope that it may help those who are looking to optimize their own response plan and sharing the steps, measures, and recommendations that the Company has undertaken. We stand ready to assist anyone we can in these difficult times. Our goals are clear: we are in this together as humanity and we will do the best we can to serve—especially those who are most vulnerable.
GSW Response Plan
1. A distributed team model was put into place, with multi-geographic redundancies. Each office location will operate independently if required and meet service levels even if response time is somewhat reduced. With the pace of the global pandemic, this has had less of risk mitigation than we initially anticipated.
2. We increased systems capacity to operate at much higher peak loads and overall system demands (due to anticipated increased delivery frequencies). This is in place and functioning as planned.
3. Capability for our full staff to operate entirely remotely. This was implemented months ago. It is now fully operational.
4. Immediate office closures and remote work arrangements based on virus propagation. Our senior staff was briefed and prepared for five different stages of response. Criteria included early travel bans, logging of travel, reporting interactions with parties that traveled and increased attention to maintaining clean surfaces at work. Responding to natural staff concerns, the company has made available stay-at-home and testing/medical visits that the company would pay in full for any staff affected. This also applied to immediate family - we fully support the family unit and not just the employee.
5. Coordination with our key partners and clients. Some were very proactive and already working with local and national governments around the globe. The planned switch to full delivery modes away from public-facing interactions was in place and now is increasingly being deployed. Some switched over gradually, and even then, we saw volume increases of up to 130% compared to the same period last year. We expect this trend to continue throughout our client base.
7. Special attention and priority are being paid to partners who serve identified at-risk populations (i.e. the elderly, cancer patients, hospitals and medical facilities) or others in the front lines of this crisis. We will continue to prioritize those who need our help the most.
8. Planning and execution capability for deeper state or multi-country integrations with various government response measures, if needed. If broader quarantine measures and corresponding hot zones emerge, this capability will, in our opinion, be an important response.
9. Realistic assessments - in our opinion, based on the data we have seen and what we are tracking, we believe that any response measures that will need to be put in effect will require that companies plan well beyond the 15-day or 30-day contingency. We are looking at, and highly recommend, a 60-90 day response perspective at a minimum. Only data will determine how long we must operate in this enhanced reaction mode.
10. Continuous monitoring and flexibility to implement and rapidly change responses as required by the data will be vital to having an effective outcome for this pandemic. Now is not the time to argue or seek validation. Now is the time to come together as a team, as companies, communities, nations, and as humanity. Sharing key findings so we can all take effective measures should be encouraged by senior leadership across business, academia, and government.
Last, but not least, let’s not forget that our own loved ones are important and will seek our strength in the days ahead. Stay safe, look after each other, and remember that none of us are in this alone.
God bless you and keep those you love or serve safe as we work through this crisis.
This announcement was approved, and authorised for release by, the GetSwift Board of Directors.
About GetSwift Limited
Technology to Optimise Global Delivery Logistics
GetSwift is a worldwide leader in delivery management automation. From enterprise to hyper-local, businesses across dozens of industries around the globe depend on our SaaS platform to bring visibility, accountability, efficiency and savings to their supply chain and "Last Mile" operations. GetSwift is headquartered in New York City and is listed on the Australian Securities Exchange (ASX:GSW). For further background, please visit GetSwift.co.
GetSwift is an emerging growth company and is subject to a variety of risks. The Company is not yet profitable, and there can be no assurance that it will achieve profitability. The Company's business and a variety of investment considerations are discussed in more detail in the Company's filings with the Australia Securities Exchange (ASX). Investors are encouraged to review the more complete information contained in such filings.
James Richardson, Public Affairs Advisor
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