The Coronavirus virus (COVID-19) has spread across and is impacting people’s ability to work and conduct their daily lives as they know it. With worry and anxiety about a worldwide pandemic sweeping the world, individuals have shown the best and worst of their natures. The fear of the unknown frightens people, which is why businesses (and their leaders) must have a long-term perspective and look at how long-term objectives may be accomplished. Several industries in China (the epicentre of COVID-19) first shut their doors but are now gradually reopening and adopting the appropriate safeguards. Consider the case of Apple Inc. Apple’s most important market is China, where 38 of the 42 closed shops have since reopened.
As the illness spreads, governments are implementing policies to keep employees away from the production floor. Also affected by the pandemic are businesses using multi-site Enterprise Resource Planning software systems that monitor and manage data from constrained supply chains.
In this scenario, ERP systems are a lifesaver! The fact that they are cloud-based and enable you to work remotely makes them an excellent safety net if your business suffers during the Coronavirus pandemic. An ERP system will allow you to keep track of all your resources (informational, human, machine, and money/cash flow) and make them easily accessible with only a few mouse clicks. It’s possible to find solutions that are a perfect match for your company’s requirements.
The coronavirus, if anything, indicates a maturing need for ERP systems. Owners and managers of both big and small industries in the United States will have to stay flexible in the face of the pandemic to fulfil consumer requirements. Because of the crisis’ worldwide scope, consumers are more than ready to be sympathetic to your company’s plight.
Since its benefits outweigh those of on-premise ERP, cloud ERP solutions have risen in popularity as a result. Starting with Cloud-based ERP systems being accessible through the user’s browser via the internet, they do not need users to install or configure software on their end. As a result, Cloud ERP users have unrestricted access to the system at any time and from any location. Another advantage of using a Data Center is that IT experts centrally control the systems, resulting in quicker installation times and faster reaction times. The third benefit is that companies no longer have to invest in new hardware and move every five years because of Cloud ERP solutions.
This game-changer should be able to overcome barriers that slow down the business process or operate the company more effectively under these new conditions. It is where NetSuite’s Cloud ERP system can help your company grow. And Folio3, a certified NetSuite partner, can offer you its top-notch expertise in the customization, integration, and implementation of NetSuite into your existing operational model.
You select how much you’d like to spend and how much you’d like in return with customizable pricing models and a pay-as-you-grow strategy. You can get the NetSuite Cloud ERP system tailored to your requirements to guarantee maximum ROI and minimal installation costs.
Determining Multiple Scenarios
Businesses will achieve success if they make better choices and plan ahead. Preparation is a defensive mechanism to anticipate difficulties and prepare for change. It will speed up decision-making and pave the way for future challenges to be turned into opportunities. A solid strategy is essential to combat revenue declines by evaluating and anticipating potential problems. Using NetSuite analytics tools inside your company may help you prepare for future situations and create money. Business intelligence solutions have been shown to make educated choices by anticipating problems and preparing for various worst-case scenarios.
Maintaining the Cash Flow
Companies may improve cash flow management by using NetSuite ERP. For example, B2B businesses may build their base forecasts by studying the operations of the sectors that they serve. During the pandemic, some product categories, such as masks, hand sanitizers, and other personal hygiene products, may have seen significant increases in sales, particularly for corporate eCommerce divisions. As a result, businesses may adapt to the changing market by providing services via online webshops. eCommerce capabilities provide the greatest possible advantages for eCommerce businesses. They may be able to normalize cash flow in the next months. When a global macroeconomic rebound takes hold, businesses may successfully hang on to their market share by developing a customer base online.
Business operations may be automated and simplified using cloud ERP software, thus reducing the need for needless, laborious, and repetitive manual labour and increasing productivity. Fixed daily activities and procedures may be automated, which has the added benefit of reducing human mistakes, which is often observed when menial duties are involved and other advantages. With modules such as procurement to pay, inventory management, and compliance management, a large number of such mundane daily chores become the ERP software’s burden rather than your workers’ headache, resulting in increased productivity.
Facilitating Work from Home
The COVID-19 has forced workers to remain at home and work remotely. With cloud ERP, companies can manage distant workers. However, businesses that are unfamiliar with cloud ERP systems must migrate to them. NetSuite ERP runs in the cloud with maximum data protection. NetSuite provides a business-friendly operating environment by allowing universal data access.
In a typical economy, customer retention is crucial. Keeping customers is vital in evaluating overall success. In today’s business climate, keeping clients is preferable to gaining new ones. NetSuite CRM facilitates communication and customer interaction. The company can retain customers using NetSuite and increase sales with efficient marketing channels.
Customer Visibility and Tracking
NetSuite ERP gives the company a 360-degree perspective of the client. It keeps customer data together. Customers’ basic contact information, including past purchases and interactions, may be stored by companies.
NetSuite ERP has excellent functionality to keep track of all company operations and services. It keeps track of problems and provides enough assistance to address new ones.
NetSuite ERP’s automated marketing capabilities help companies remain relevant. Companies can conduct more successful automated marketing campaigns across various channels using NetSuite ERP.
NetSuite helps you adapt your company to the new COVID 19 rules. NetSuite ERP may help you run your company by allocating resources efficiently and allowing cross-departmental and cross-channel collaboration across regions. NetSuite can optimize company processes even if they are decentralized or geographically dispersed.
Although there will always be a need for human contact to make things work more smoothly, we urge prudence and planning for the future now: a future in which your business is present and thriving as a whole. NetSuite ERP is well-positioned to take advantage of any new possibilities that arise in the wake of the epidemic. As a consequence, staying current is critical if you want to see better outcomes. Plan your company’s course and get the advantages of its excellent features to the fullest extent possible by hiring Folio3 to help you integrate NetSuite ERP into your business’s operations.