ERP Can Help in Balancing Business Growth With COVID-19 Recovery
News Desk, News Nation 360 : The outbreak of COVID-19 has sent shockwaves into ventures worldwide. As per the latest report by Technavio, the ERP software global market size is poised to escalate by USD 19.52 billion from 2020 to 2024, evolving at a CAGR of almost 9% throughout the prediction period. ERP software is capable of succoring businesses irrespective of sizes in any economic atmosphere. Thus, the implementation of ERP has been on the agenda of several companies as they executed their plans to proceed to bag digital transformation before the pandemic. Organizations, now, are restarting the implication process of ERP so they can manage the workforce that is expended among various locations- at home, in the office, or out in the field. ERP solutions proffer ongoing verification to leadership that operations are safeguarded from cyberattacks and data breaches to let an organization address industry best practices like two-factor authentication and single sign-on and remain compliant with GDPR, FCA, and data security standards. These verifications are improvingly crucial as cyberattacks and fraud typically escalate during this economic uncertainty. During this time of business disruption, having the visibility to make faster decisions on changing variables is even more vital. Through the gripping automation possible in modern ERP systems, organizations can attain relevant, apparent, and real-time access to reports and metrics that are keys to your company. The dashboards and reporting of a modern ERP platform let several users reassess their financial data constantly through a single shared database, insight into KPIs, role-specific real-time reports, and the ability to view summary information and steer down to transaction-level data in a few clicks. These capabilities let teams minimize the amount of time expended in formulating and auditing data while assisting them in accessing accurate analytical reports, recognizing trends, forecasting financial health, and making informed decisions more profitably. This is especially vital for organizations that are adjusting to new working structures, like a new remote working atmosphere, or operating with minimum personnel. The improving stipulation for cloud-based ERP led vendors to either devise separate cloud-based ERP offerings or adapt their existing ERP solutions. The low upfront charges of cloud-based ERP are steering its implementation across companies, majorly small and mid-sized enterprises having limited IT resources and budget. Abanti Sen, the CEO of BizzmanWeb stated that they are very happy to be a part of success partner of their clients to help them in coping up with this COVID scenario. With their lucrative ERP solutions, their clients bring a more flexible supply chain by identifying opportunities to minimize cost. Not only that but also with them, their clients can ensure proper digital collaboration tools and remote working to have the latest IT or cyber security standards and grip rule-based workflow automation.
Report : Anustup Kundu