As the Covid-19 pandemic progressed over the better part of 18 months, some companies have been able to keep things moving, while others have not. Unfortunately, many businesses struggled with managing remote workers, distributed data and device security. They have either lost money, closed or are in the position of playing catch-up.
Now, the apparent economic rebound is triggering some chaos. There is a goods shortage. Demand for certain raw materials, microchips and other products is outstripping demand. Shipping has been held up by the pandemic and inflation has arrived—an expected result of the end of an expansion. There’s a labor shortage, too, amid a highly competitive job market.
Thriving in the economic rebound will required adaptive strategies, backed strong management skills and technology. Businesses will need a single source of information that meets the needs of diverse stakeholders. They will need centralized control over operations, delivered by technological solutions that boost productivity.
Modern, cloud-based Enterprise Resource Planning (ERP) solutions offer such capabilities. As exemplified by Acumatica cloud ERP, this kind of software enables businesses to address the rebound’s supply chain challenges, labor shortages and general chaos. Innovative companies are adopting cloud ERP software, as it provides essential solutions not only for operations and financial management, but also as an essential element of manufacturing management, inventory, warehousing and distribution.
In a fast-moving economic moment such as the Covid rebound, managers need access to information for products to travel from point a to point b, with correct terms, contracts, invoicing and payments. The implementation of well-planned cloud ERP does this, increasing efficiency, enhancing productivity, reducing costs, improving communication and streamlining processes. The single source of information augments these advantages by making possible real-time, accurate data with anywhere, anytime reporting.
ERP cloud software further facilitates the rebound by integrating every working part of your company’s systems. You can link functionality between Acumatica’s many modules, such as for accounting, sales and order management, warehouse management and so forth. Through integration, Cloud ERP enhances purchasing, sales, marketing, inventory, planning, finance, HR and field services. The software also integrates relatively easy with third party systems, such as logistic software or suppliers’ order management solutions.
Companies that have migrated legacy systems to cloud ERP benefit from the free flow of data and communication between departments. With its any device/any location nature, Acumatica makes possible effective remote work and collaboration between employees who are spread out across regions. In addition to promoting productivity and profitability, such deep remote work features are appealing to people who want to work from home. This is a growing group of people who may be picky about where they work now that it’s a “buyer’s market” for employment.
Acumatica balances security with productivity, which is critical in this moment when employees are still largely out of the office and digital assets may be spread out across multiple clod and edge environments. Acumatica delivers security by building in access control policies and individual permissions, among other controls.
Cloud ERP offers the further advantage of allowing for a smooth, incremental technology expansion process. You can add functionality and modules as you need them. Implementation is relatively straightforward and economical, as there is no hardware or software to buy. Similarly, companies can switch off functionality they no longer need. Cloud ERP provides agility and adaptability at a time when it is crucial to have these abilities.
To learn more about how cloud ERP can help your business make it through the Covid rebound and come out the other side in better shape, get with us for a demo of Acumatica and an informative, engaged conversation.
Additional Cloud ERP Resources
Defining Your ERP Requirements: An Implementation Checklist