The global pandemic has made companies operate in a new way because of its tremendous effects. Whether they like it or not, businesses have to change their operation run to fight back the crisis and maintain the business continuity during the new normal. Only by increasing the level of adaptability, are businesses likely to respond and survive through the outbreak.
To successfully do so, companies must take into consideration 5 primary areas listed below.
1. Safeguard The Company’s Health
As the global pandemic has not been alleviated fully, companies not only have to go all way out to adapt to the new normal but are also required to follow precautionary measures to safeguard their health. Preventive measures such as: spreading clear hygiene instruction, providing masks, hand sanitizers, hand soap and avoiding close contact or shaking hands, need to be followed by all employees.
Applying quarantine measures for employees who are sick or show potential symptoms to rest at home is a must. Also, instead of working at a physical office, enterprises also proactively implement the work from home practice to reduce the potential spread of infection if possible.
2. Accelerate Moving To The Cloud
As working from home must be implemented, cloud-computing technology has been thrust into center-stage. Enterprises certainly look for a simple means of accessing vital business data and applications remotely. This is the time for innovative technologies, especially the cloud-based ERP system to be called out.
Cloud ERP software, with the ability to automatically update all latest and most accurate information into one single source data, allows companies to continuously access their data from anywhere via any smart devices with an Internet connection. Since data is always at their fingertips, top managers can quickly respond to any disruptions during the remote working periods without the need for checking with other departments in-person.
3. Strengthen The Digitalization Capability
Going hand in hand with moving to the cloud, digital transformation is also a buzzword for companies in this new normal circumstance. Since social distancing has been applied worldwide, companies have made any process that can be digitised virtual. Meeting conferences, document signing, electronic trading or invoicing are all implemented through an online screen.
This digitalisation can be operated with the lowest demand for physical assets, enabling companies to have greater adaption capability with unexpected risk. They can rapidly fine-tune and switch to a more flexible work-frame without suffering from any operational disruption. You can refer to Telecommuting Easily with Synergix ERP Software to know more details about the way to leverage digitalisation on your way out during the new normal.
4. Find Financial Support For Your Company
It is no doubt that many companies are severely hit by this global pandemic in terms of the financial aspect. To survive and adapt to the new normal, it is of essential necessity for companies to find suitable fundings to reduce the impacts of the net cash recovery and retain a stable financial stream as well.
Besides a few typical fundings such as bank loans, business incubators or angel investors, businesses can look into and tap on government grants or credits introduced by the local authority. Here is the List of Available Government Grants for SMEs in 2020 for your reference.
5. Reconnect With Your Potential Customers
It was hard to hold face-to-face appointments during the circuit breaker period. Enterprises, as a consequence, might have lose communication with lots of potential customers.
The action that needs to be taken here is to get in touch and follow up with these valuable clients again. Using the Synergix ERP’s Customer Relationship Management system, companies will be able to keep track of all on-going sales processes and information about business prospects. Are these clients the right fit for your company? Has any salesperson contacted them before? If they did, when was that last time? Were they interested in your company’s products? Re-inspecting on these questions again will help companies manage all opportunities to nurture and seal transactions with their prospects.
During this crisis period, company resilience has been tested like never before. Refining the system processes might be the one and only effective way out for enterprises. Although it is not an easy transformation, with the help of Synergix ERP system, the journey can become much more breathable.
Should you be interested in adopting the software, quickly grab the chance to tap on government grants for financial funding of up to 80% of the qualifying cost and an additional SGD7000 of the new Skillsfuture Enterprise Credit. Contact us now for more detailed information.