Small and mid-sized businesses (SMBs) deal with tight profit margins even during good economic times. An unexpected event like COVID-19 made things even more challenging. But that doesn't mean some good didn't come from it. It caused many SMBs to strategically modernize their business systems to accommodate remote work and meet head-on the challenges a digital economy puts on them. These businesses are coming through 2021 stronger and more profitable. For companies that have historically lagged behind in technology investments, now is the time to reflect on the effects Covid had, and how well their business is equipped to meet similar future challenges.
One defining trend we are seeing in 2021 is an uptick in digital transformation plans coupled with cloud ERP implementations. The process of replacing legacy systems with modern technology is something that may have been considered optional prior to Covid but is now seen as necessary. Cloud ERP solutions can digitize the long-held manual, analog processes and connect business records, data sources, and systems within a centralized system. They provide a single system source that every person within an organization can access (with applicable permissions) to have the information they need and work remotely. A cloud-based system is rapidly accessed over the internet, which means employees can work from anywhere with an internet connection.
Cloud-based software has become the standard in both our personal and professional lives. EVERYTHING is done in the Cloud. Virtually every piece of software we use on our phones, TVs, computers, etc. is cloud-based. ERP software in the cloud is no different. It provides the benefit of increased efficiency, streamlined processes, and security in addition to business-altering process improvement. With the many lessons learned during the pandemic, most SMBs are accelerating their shift to cloud-centric business applications.
Remote work isn’t going anywhere
We all know it’s true. Working remotely became essential for non-essential workers with the advent of stay-at-home orders. Employers scrambled to give their employees the remote access they needed to do their jobs. Those who had already implemented a cloud-based ERP solution, however, didn’t experience the rushed research and decision-making process, nor the delay in getting everyone connected from their homes.
Going forward, a majority of employees want and expect, to work remotely at least some of the time. To do so requires seamless communication and collaboration with their employer and team members. A cloud ERP solution with built-in mobile capabilities is also required.
Time to future-proof your business
COVID-19 altered reality for SMBs everywhere. The pandemic forced businesses to fast forward their technology timelines so employees could work remotely and be productive. The future may be uncertain but companies can prepare, protect, and future-proof their businesses with a modern cloud-based ERP system that allows them to adapt to consistently changing circumstances and expectations. It also provides them with the data security, seamless integrations, mobility, and more that they need to survive and thrive.
Luckily more positive trends are developing as we move into summer and last year's dire outlook seems to be fading. To learn more about how Acumatica’s cloud ERP software can help SMBs become a fully connected business and meet whatever unexpected challenges are thrown their way, contact us. Empower Business Solutions' experienced staff have been successfully implementing ERP solutions for 30+ years and can help you confidently face tomorrow with a business management system that fits your unique needs.