Phoenix, AZ – Conventional wisdom points to displacement metrics to indicate the US economy is in recession due to Covid Lockdowns. The reality for many companies is, the booming economy we saw pre-pandemic is still out there humming right along, it’s simply changed location – from office to home, dine in to take out, retail to online. And how businesses react in 2021 will determine winners, losers and those no longer in the game. Microsoft CEO Satya Nadella spoke out early on in the pandemic saying ‘Microsoft has seen 2 years’ worth of digital transformation within two months’ and others would later say 2020 saw a decade’s worth of digital explosion in a single year as companies reacted during the pandemic lockdown.
In a leading technology podcast, ERPodcast from ProfitFromERP, details business successes using new technology in the 2021 CEO/CFO ERP Report. 2020 saw companies pivoting with technology tools to reach customers with better accessibility and online convenience. 2021 shows planned cloud spending by small to medium businesses (SMB) projected to rise by a factor of 3.
“There are so many options out there” said Gene Hammons, Director at ProfitFromERP, “Cloud ERP, BI, AI, Operational Mobile Apps – there’s a ton of overlap and plenty of new options in the marketplace.” ProfitFromERP is a business consulting firm that helps SMB companies evaluate, analyze and implement technology with the eye on making the business more profitable with short paybacks – even for expensive software investments.
But for many companies, cloud technology is not optional – it’s the cost of doing business today. Tech website Diginomica detailed how Kawasaki Engines used Salesforce CRM to keep a home-based workforce up to speed on customer communications, whether it was incoming faxes, or emails, across different departments and multiple touchpoints. More importantly, dealing with new companies was a challenge – a challenge for an established manufacturer to meet the operational expectations of a new generation of customers. Regardless of the industry you’re in, customer expectations are for digital experiences that ‘just work’. And these expectations are present in both customers and vendors. Another nail in the traditional software coffin.
Recent surveys show the role of financial management of companies is more demanding than ever before. Technology plays a role, as a top demand is for quicker closing numbers – and cloud financials are getting nearer and nearer to ‘always closed.’ Even being able to roll up international financial operations and control worldwide locations becomes a reality with cloud.
The result is, a recent survey showed nearly 80% of controllers were planning to speed their adoption of modern business software technology this year.
“We’ve seen midsized ERP with nimble cloud offerings like NetSuite, Intacct and Acumatica have record years, while traditional SAP projects with 18 and 24 month rollouts are dropping off the planning maps,” said Hammons, “It’s all about being nimble, easy to integrate and the ability to react quickly to change.” ProfitFromERP helps companies navigate the complex market of business software using the experience of over 400 ERP projects and an international network of affiliated partners representing all of the major software brands.
If last year’s pandemic experience showed the business world anything, it’s that yesterday’s technology which was thought of as ‘good enough’ no longer holds up under the pressure of rapid change, remote workforces and shifting consumer marketplaces.
ProfitFromERP provides the experience and process management to help clients understand the different offerings, and more importantly, understand how to create the workflows that support a new, digitally based approach to the marketplace.
Time to value is also an issue. Negotiating the confusing software market can take months or more than a year – but the decision to spend considerable funds on a risk filled investment is difficult for even the best evaluation teams. Having an experienced consultant frame the project into stages and steps helps, as well as the knowledge of which software products performed for similar clients in the past shortens the evaluation cycle. The top cloud software vendors and partners had surprisingly good 2020 sales – and should analyst forecasts prove accurate, 2021 will be a banner year – with sizeable constraint among top implementation teams availabilities – so interested parties should be engaging selection consultants early.
Profit From ERP is a software selection consulting practice for all types of business software, implementations, business consulting.
For more information on:
ERPodcast on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-erpodcast/id1450327227
Profit From ERP: https://profitfromerp.com