Truth be told, at the beginning of the year when both personal and professional resolutions were made, nobody could have predicted the changes that would have soon altered our daily routines.
Few of us could have been fully prepared to deal with the changes brought about by a pandemic since living and working in the modern world throughout the last many decades, has come with the benefit of not having to deal with such threats.
People of the last couple of generations are thus not prepared or molded for adverse global catastrophes like the one we’re currently in. Could the same be true for businesses?
Strengthening your business during trying times
During the last few months, despite claims to be in-tune with the state of their technology, organizations were still thrown off by the global economy essentially being at a standstill, and how could they not!?
Even companies that have full capacity to work remotely have taken the time to react to this new reality. Not due to a lack of willingness to adapt, but, more likely, because they were clueless as to how to proceed next.
Facing a new reality can be challenging - even for business professionals who, by default, should be used to ever-changing circumstances. But should-haves and could-haves are of little importance nowadays.
The fact is that instead of brainstorming ways to turn their vision and ideas into reality, business owners everywhere are busy putting together plans about how to efficiently approach matters such as working with displaced employees or managing severely crippled budgets. Being frugal and sensible about one’s budget has of course always been of importance, in a global downturn however, it is even more important, cash is king!
As a company, how do you then even begin to think through an enterprise resource planning (ERP) project given suboptimal circumstances? Well, as long as you’re willing to treat change as a close companion throughout 2020 and 2021, you’re on the right track.
There’s nothing to gain from desperately clinging onto your pre-pandemic strategies. Here are a few aspects to consider so that you can make the most of streamlining your processes while business admittedly isn’t booming.
Evaluate your IT framework
Chances are there are quite a few strategic plays in the pipeline that you presumably already have, or are considering putting to a halt. Well, think again.
Now might be the time to look at your company’s IT infrastructure with a critical eye and evaluate the value brought about by on-premise and, respectively, cloud applications. Comparing the answers could give you the chance to upgrade your ERP solution to ensure that your organization’s ongoing needs are taken care of properly.
Times of economic distress, understandably so, can bring about a more disciplined approach, in the sense that what otherwise has been a split decision most likely can no longer be one. Discipline, however, as well as having more time to contemplate your investments can lead you toward shaping your ERP into being precisely what your company needs in changing times such as these.
Internal learning sessions and training
2020 is proving to be a difficult year for the majority of businesses and many are struggling to keep afloat. As a result, all thoughts of proactively launching new strategic initiatives has been replaced with a battle for mere survival.
CEOs have shifted priorities and focus to keeping both their staff, ability to compete in their respective industries and their technology relevant and in place in anticipation of ramping back up business once the dust settles. Now is the time to do an in-depth assessment of recurring ERP failures and correct them to cut costs associated with your IT spending.
Now is the time to assess other, cheaper, more flexible ERP providers in case you already have an operational system which likely is charging you heavily for any custom changes you need implemented and costing you a fortune.
Improving Risk Management
Acknowledging the heavily changed world-situation while thinking of ways to come out on top is one thing from a top-down perspective is important. Just as important though, is a bottom-up approach to assessing your company’s vulnerabilities and competitive disadvantages and to think of ways to flip the scales. This can be used to their advantage by keeping all the newly discovered shortcomings in mind as they are planning the upgrade of their ERP, and thus, be more on target with the solution.
The major benefit something like this would reap for your company? A chance to optimize tasks and processes faster and more effectively so that your staff can focus on keeping your company in a good competitive position and ready to speed back up on the other side of the epidemic.
There’s a high chance that your company, alongside others worldwide might not be currently on the path of growth, but then this means it can do the next best thing - strengthen its infrastructure so that when it will be presented with opportunities for advancement, it’ll have no excuse to not take full advantage of them.