In the context of a global health crisis, the COVID-19 pandemic is threatening a dramatic change in the future of work. In a matter of weeks, companies around the country have shut down their doors and introduced telecommunications protocols for workers. This abrupt transition has challenged the capacity of the global workforce to operate remotely and undermined digital transformation efforts. Research reveals that 70 % of businesses either have a digital transformation strategy in place or were planning on one before COVID-19 took over the globe. However, the pandemic has become an eye-opening experience for corporate executives worldwide, as understanding structural gaps and areas of progress.
Despite these vulnerabilities, the scale and pain of transitioning away from existing landscapes has held the status quo in place for many businesses. However, some of the industry issues posed by COVID-19 are now curving the scales towards faster implementation of next-generation ERP systems. Companies are especially concentrated on the following points:
Smart Manufacturing and Digital Supply Chains
A major and critical element of the modern enterprise resource planning (ERP) system has always been supply chain management. In order to better manage supply chains, businesses need real-time insight. This would empower them, for example, to integrate weather forecasts, port shortages, and supplier concerns into their decisions — and to resolve them in timely manner. There is also a need to manage industrial operations and supply chains with fewer employees due to social distancing.
Digital Finance and HR
Companies require sophisticated automation, depending on fewer but more experienced employees and workers who can run from their homes.
Customers and Go-to-Market Trends
Companies need to deal with a surge of customer data as buying habits change. They need to develop the volume required to send smaller amounts of products to more and more residential addresses — and to be able to accommodate a boom in returns.
Support to improve protection and Meet Compliance Standards
As economic conditions change quickly, many companies are under pressure from regulatory reform — needing to simultaneously manufacture new goods, safeguard their businesses, and meet changing compliance requirements. Enterprise resource planning (ERP) system will also provide leadership with continuous verification that activities are secure against data breaches and cyber threats, while helping an organisation to conform with industry best practices — such as single sign-on and two-factor authentication — and remain consistent with the General Data Protection Regulations (GDPR), the Financial Conduct Authority ( FCA) and data security requirements. This verifications are particularly necessary because fraud and cyber-attacks generally escalate in periods of economic instability.
While the WHO is calling for companies, government authorities and other people to be cautious and to change the course of the epidemic, more businesses are looking to social distances and the potential of remote work from home. While a total remote work approach does not necessarily work for the retail and Supply chain industries, by engaging in technologies such as Enterprise Resource Planning, corporate customers can effectively communicate from anywhere at any time and still ensure that the business manages to function efficiently. Axolon is here to assist you and provide continuous support even during this Pandemic. So, stay safe and connected with us by signing into this digital world. Click here to Request a free demo