2021 is a difficult year to foreshadow as an economic evolution, especially for companies in the middle segment of the market. Authorities are sending confusing signals through protracted budget talks, and large companies are announcing temperate investment budgets.
On the other hand, the data published by the National Bank show that in 2020 companies made substantial savings (69% of the new deposits from last year were made by companies) and digitization support programs (Measure 2.2.2 for example https: / /www.startupcafe.ro/fonduri-europene/firme-calculatoare-ghid-schema-finantare-digitalizare-imm.htm) allow accessing amounts of 30k-100k euros for investments in computerization. 2021 is not a year of crisis, but rather one marked by a “new economic reality.”
However, adapting to the new reality requires not only entrepreneurship but also the activity digitalization. This is also the conclusion of the analysts from Oxford Economics, who consider that the exploitation of new technologies for the operational adaptation of companies becomes an essential element in the economic development.
What do companies expect from technology (Oxford Economics 2020 report)
- 45% – efficiency increase and eliminating errors
- 43% – productivity increase through automation
- 40% – employees release from routine activities
- 38% – a better understanding of the customers, employees and partners behavior
- 37% – direct and indirect costs reduction
- 36% – increasing the visibility on operations
The market is changing before our eyes.
If we read business publications and follow social media discussions, we will immediately notice a series of changes that significantly influence a company’s operations and interaction with customers and partners. What it is?
- Consumers demand more and more: online stocks, real-time offers, immediate delivery, 24/7 support and schedule, etc. If we initially considered these requirements specific to the young generation, we now realize that all customers have the same expectations.
- Distribution networks are increasingly volatile. It is becoming more and more difficult to have the necessary products or raw materials in stock, suppliers appear and disappear, you must always have alternatives and the supply process must be permanently optimized.
- Business migrates to online. If in B2C the trend was obvious for several years, in B2B the pandemic accelerated the process. Today it is difficult to do business without an online portal with updated stocks and prices, which allows transactions without physical interaction.
- Price competition remains fierce and if you can’t accurately assess production costs, you risk practicing a low profit margin or unattractive prices.
- The risks associated with the pandemic are still high. Clients refuse direct meetings in favour of video and some employees are still afraid to return to the office.
Such signs existed before the pandemic but were seen as long-term trends. The situation is different today and the market, the habits and the attitude of the customers are changing before our eyes. Does this change influence and affect your activity? In what way?
Business digitalisation. The condition without which it is not possible in 2021.
Although the economy is changing, a businessman’s goals remain the same: to attract new customers and grow his business, to have satisfied customers and employees, to reduce costs and to increase profits. In 2021 it becomes difficult to impossible to achieve these goals without technology. The reason is simple: things move so fast that without a computer system to rely on for data processing and decision support, a management team cannot have the necessary reaction speed.
Control over the activity is essential, but how to control if you do not have accurate information about: product stocks, orders in execution, supply terms, real direct and indirect costs, the degree of occupation of the means of production, cash flow, limits of customer account etc.
In 2021, it becomes critical to be able to correlate customer orders with existing stocks (products or raw materials) and production capacity, so as to optimally meet market demand. This role is taken over by a modern and high-performance ERP system like SAP Business One, which completely deals with a business process, from placing an order to carrying out a warranty repair.
Data is recorded and managed individually (regardless of user or department), paper disappears, tasks are generated automatically and information is easy to analyze and interpret. Everything in real time for you to see the big picture and have control over the activity.
Unlike other solutions, SAP Business One goes digital with all business aspects:
- Financial management (invoices, cash flow, budget, fixed assets, payments and banking operations)
- Commercial (prospects, customers, offers, sales, contracts)
- Production and Inventory (planning, recipes, stocks, warehouse)
- Procurement (suppliers, orders, documentation)
- Reporting and Analysis (information from multiple sources, dashboards, management reports)
In addition, SAP Business One offers maximum mobility to users so that they can run their business under the same conditions, regardless of location. Practically SAP Business One can be accessed from any device (desktop, laptop, tablet, mobile) with the advantage of having mobile applications dedicated to the roles in the organization that involve field work (sales agents, technical teams, etc.). Such as for example SAP Business One Sales App or SAP Business One Service App.
All these functionalities and benefits are available in a single platform, easy to implement and manage, located 100% for Romania.
Do you feel that your IT system does not help you or does not cope with the current situation? Contact us at 0040 21-313-5339 or email at office@sysinconsult.ro and we’ll evaluate together if SAP Business One is right for your company.
If such a discussion is premature, access the dedicated brochure HERE and find out for yourself what it offers and how you can use SAP Business One.