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How to Manage Your Business from Home in Pandemic Situation?

Over the past year, we are trying to cope up with this covid-19 pandemic.

As a result of the pandemic, many businesses are adopting new practices and are innovating in new ways when it comes to working remotely.

Companies are acquiring new technology, flexibility, and overall resources so that they can quickly transform their employees to a work-from-home and remote setup.

This “new normal” may bring a plethora of challenges to the companies that don’t have adequate resources and previous experiences of work-from-home.

ALSO READ: Detailed Guide on Covid 19 and Cloud Migration

Working in the Age of COVID-19

This new way of working may bring an array of challenges including interferences from children at home, lack of consistency with team members, and an enhanced chance of miscommunication.

But things that you can adopt to run your business in a hassle-free way when working remotely.

  • Equip teams with the right technology (ERP management software)
  • Manage remote employees by communicating frequently without compromising transparency.
  • By creating various opportunities for social interactions, you can maintain engagement and enhance the productivity of your team.

Covid-19 Issues in Saudi Arabia

The covid-19 situation is very alarming over the past few weeks as many countries are suffering from the second wave of this pandemic.

Though in Saudi Arabia, the situation is much better than in some countries, still, strict restrictions are imposed all over the country.

People are using masks, sanitizers, and are maintaining social distancing to curb the spread of the infections.

Most of the companies are following Covid protocols and are operating their businesses from home.

To maintain all their operations smoothly, companies are implementing new technologies like cloud-based ERP.

ALSO READ: Important ERP Implementation Questions to Ask

How ERP Implementation Benefit in this Current Situation?

Leveraging enterprise resource planning (ERP) systems can help businesses automate core processes, manage intricate systems with adherence to internal controls, gain real-time visibility into their operations through better reporting.

By better using technology, companies are also saving a lot of money.

Improve Security and Meet Compliance Standards

As expectations are changing hurriedly, many companies are experiencing pressure from regulatory reform i.e., the need to produce new products simultaneously to get attention from the customers, protect their existing operations, and meet evolving marketing standards.

Many companies are investing a lot of time and resources in monitoring data protection.

This helps them to determine if they are meeting compliance standards or not.

Automated ERP solutions encourage a company to conduct these analyses uninterruptedly and automatically from a single system.

ERP solutions are also protecting imperative data from data breaches and cyberattacks, thus, allowing companies to meet industry best practices.

ALSO READ: Detailed Guide on ROI on ERP Implementation

Consolidate IT Process

A cloud-based ERP solution can consolidate many IT systems that need to support and establish up-to-the-minute reporting.

Though employees are working from various locations, helping IT support will ensure that the work progresses effectively.

Can Access Intelligent Financial Data in Real-Time

By leveraging the automation possible in modern ERP systems, businesses can get clear, relevant, and real-time access to metrics and reports that are key to their organizations.

A modern ERP platform’s reporting and dashboards encourage multiple users to review their financial data continuously through:

  • A single shared database
  • Role-specific real-time reports
  • Insight into key performance indicators (KPIs)
  • Ability to view summary information and drive down to transaction-level data in a few clicks

Saves Money and Resources

If a company can access refined and real-time data through an automated ERP solution, this can help the company to become profitable in many ways,

  • Minimize cycle times
  • Close its books faster
  • Modernize the quote-to-cash process

ALSO READ: Future ERP Trends

Implementation of Project Management Software

When you are working remotely especially in this covid situation, project management software tools play an imperative role.

By using these software tools, you can easily track the progress of your project, can get the daily report, and can also continue the work with the same zeal and passion.

Project managers sometimes find it difficult to keep their teams united and under control unless they have the right setup.

But the market is thronged with many efficient project management tools that help you to control everything under one single roof.

Let’s take a look at how project management is beneficial when you are working remotely during this covid situation.

Transparent Objectives and Process: A survey was conducted by the Keltron group in 2018 and as per them, 87% of workers want their future employer to be transparent. Teams feel more motivated and work smoothly when they are not left in the dark. Project management tools help you prioritize your work and make sure everything is visible to all team members.

  • Communicate Project Progress Regularly: Poor communication is one of the common factors among remote teams that kill productivity. With project management tools, now, you can create detailed project plans and outline what results expected and guidelines for your remote team. Each team member can communicate and share the information with the rest of the team.
  • Access to Internal Knowledge: Remote environments create barriers for businesses to share knowledge with their teams. But with project management software tools, you can easily identify subject matter experts and make their skills known to the rest of the team.
  • Set Clear Agenda Before Every Meeting: Setting clear agendas for virtual meetings plays a pivotal role in the success of any remote team. With the help of a project management software tool, you can get feedback in advance from participants. Now, you can discuss those points at the meetings. Even you can conclude every meeting with a clear call to action of tasks that needs to be completed before the next meeting.

ALSO READ: Advantages of ERP to Automotive Businesses

Sales and Order Management Software Uses

When you are working remotely to cope up with covid, you need to manage every operation or function of your company effectively.

Here, comes sales and order management software solutions that used to control the process between a customer placing an order and the product going out for delivery.

This type of software track sales, stock, and fulfillment.

It also ensures that all the processes and people in-between are kept well-informed and up-to-date.

A good order management software must possess the below-mentioned qualities.

  • Irrespective of channel origin can accept an order.
  • Effectively handle offline sales for a quick quote to order process
  • Organize and manage orders for the warehouse picking team and delivery team
  • Update stock levels across all systems (even takes care of your online sales channels)
  • Track all the order processes for customers and employees
  • Handle intricate pricing structures so all channels and customers can receive competitive pricing
  • Communicate with the sales team of the company.
  • Integrate with all other business processes including accounts, payments, invoicing

By using an order management system, now, you can get real-time updates of your stock without using papers.

ALSO READ: Benefits of Blockchain in Cloud Computing

Future Benefits of SAAS Products by Analyzing Last Year

Nowadays, companies are employing various software systems to run their business operations fluently under this pandemic while working from home.

SaaS is the utmost solution that has become a very popular method of delivering many businesses application that is working remotely.

The demand for this software is surging every day over the past year. Some future benefits of this software include,

1. Cost-Effective: 

A company can save a lot of money by implementing SaaS.

Because it eradicates the upfront costs that a user needs to pay for purchase and installation.

With SaaS, now no longer need to invest in hardware resources.

2. Time Management:

With SaaS, you don’t need to take care of maintenance as everything is taken care of by the SaaS vendor.

This saves your time and energy.

ALSO READ: What is Zero Inventory and Why it is Important?

3. Scalability & Accessibility: 

SaaS software solutions can be easily accessed from anywhere in the world.

By using SaaS, users can access all data and work proficiently from anywhere.

This software is ideal for home workers.

4. High Compatibility:

With SaaS, a user can log in to the latest upgraded version of the SaaS solution.

The SaaS vendor is responsible for managing updates and upgrading the software.

SaaS offers end-users to access the most up-to-date version of the software.

5. Amplified Security:

If you want to keep all your business information safely even working remotely, then SaaS solutions would be your perfect choice.

Because this keeps your information safer than traditional software.

ALSO READ: Implementation of ERP for Steel Industry

6. High Adoption Rates:

Since SaaS solutions are delivered over the web, hence employees are accustomed to this software as they are already used to working on the internet.

Running your business from home during covid is a great way to have a work-life balance.

This will also lessen your cost and will also help you to survive in the harsh period.

But you need to implement the right technology that will help you to manage your business effectively even in this tough situation.

Tranquil is a prominent cloud-based ERP software system that helps you to manage your projects and business work in a hassle-free way. Moreover, with this software, you can access your business data anywhere, any time. If you want to manage an ERP software system, you can get in touch with Tranquil software.

Influence and Importance of ERP System in Different Industries

Enterprise resource planning is a buzzing word over the few years that has penetrated every sphere of businesses.

Enterprise resource planning system software is a customized application that allows businesses to integrate and manage their imperative processes under one roof.

So, in a nutshell, an ERP system in business is a software tool that centralizes a company’s database of information, automates tedious tasks and streamlines business processes.

The prime goal of using enterprise resource management software tool is to optimize various business operations and free up employee time which they can utilize in other ways.

In earlier days, ERP software systems are welcomed by big companies because these systems are expensive to run.

But after knowing the benefits of an ERP system, many companies (irrespective of their size and nature of business) are adopting the best ERP software systems to run their businesses in a hassle-free way.

These days the top ERP software systems are highly used by various sectors including manufacturing, healthcare, retail, oil & gas, construction, and government sectors.

By using ERP systems, every company is trying to find out the best solutions which will meet their business needs and help them to thrive in this competitive market.

Impact and Influence of ERP in Various Industries

Manufacturing Stock Control project management

Manufacturing Industry

ERP software has a plethora of benefits in the manufacturing sector.

By using a cloud-based ERP, a company can manage various departments like finance, purchasing, production, etc. with ease.

A study was conducted by Aberdeen Group and it was found that 48% of manufacturing companies claim industry-specific ERP software systems are helping them in doing business more efficiently.

Benefits of ERP for the Manufacturing Industry

  • Automates and Streamline Various Business Processes:

    by using ERP software systems, manufacturing companies can streamline their business processes. Now, all imperative data is available in a centralized location that can easily be accessible and will give you an idea about various (development, designing, inventory, procurement, production, finance, sales, delivery and more) departments. Moreover, any person can monitor the production status in real-time without depending on another person or team. An ERP system enhances proficiency, improves productivity and helps companies maintain a healthy relationship with the clients. Since ERP makes every process automated, the company now reduces its dependence on manual processes.

  • Business-Driven Decisions:

    A comprehensive ERP software solution for the manufacturing industry improves the decision-making capacity of a company. By providing thorough insights and visibility into every department, this system helps companies to make robust and business-oriented decisions. Moreover, ERP software helps manufacturing companies remain aligned to their goals and take necessary internal decisions if required.

  • Reduce Cost:

    ERP software helps manufacturing companies to lessen their overall operational costs. Because now time-taken jobs are replaced by automated and streamlined processes. This will give you real-time business information which will improve productivity and efficiency. By enhancing worker productivity, the ERP software for the manufacturing industry curtails labour expenses, and improved precision and lower error rates.

ALSO READ:  Why is ERP System For Automotive Industry Important?

  • Improve Customer Satisfaction:

    Exact production planning, improved control over inventory, streamlined process scheduling, and well coordination between distribution channels enables manufacturers to improve on-time delivery of products. Delivering products on time is a crucial parameter to maintain a good relationship with your customers. And, this will certainly satisfy your customers and they will remain loyal to your company.

These are some of the benefits that a manufacturing company can get by adopting an ERP software system.

ERP in the Healthcare System

The healthcare system is burgeoning rapidly day by day and ERP software solutions are making a huge contribution to this growth.

Here, we are mentioning how ERP can benefit healthcare and related industries.

  • Improved Patient Safety:

    Patient safety is the prime concern for all healthcare companies. An ERP software system improves communication between the patient and clinics and makes it more transparent.

  • Easy to Access Medical Record:

    when a patient makes a call to the clinic for seeking medical attention, the clinic must be able to pull up that person’s record immediately. That’s why many healthcare companies are transferring all their paper-based and manual systems onto the ERP software system. This system helps them to access all the data they need by using a single click.

  • Patient Confidentiality:

    All medical records and data of the patients are confidential. A data breach will not only tarnish your market reputation but also will misuse this data. So, if you move all the records onto a good ERP software system, you can set advanced user controls that can be accessed by only authorized personnel.

ALSO READ: ERP Implementation in Agriculture Business

  • Cost Reduction:

    The ERP software system helps healthcare companies to reduce the hospital’s operational costs. The management can lessen the incurred costs caused by inventory and administrative errors. Because an effective ERP software system can monitor finances and inventory levels precisely. Moreover, ERP software also optimizes multiple operations at the back-end, like accounts, payroll, and inventory management.

  • Strategic Planning:

    ERP is an imperative tool that will identify the areas where improvements are needed and necessary. This will certainly improve the overall effectiveness and efficiency of the organization. If problems are identified, then management can easily monitor whether the changes that will be made will be effective or not.

ERP in the Retail Sector

ERP has become an integral part of the retail industry.

As competition is rising day by day, ERP solutions are helping the retail businesses to sustain in the market ad also helping them in satisfying the customers’ need.

Let’s dig deeper into how ERP is beneficial for retail businesses.

  • Better Inventory Management:

    inventory plays an imperative role in any retail business. If you can control it, then you can stockpile enough to meet anticipated orders. An effective ERP software addresses this challenge very easily. An ERP system stores detailed information about every product that is available in stock. This will ensure customers to know exactly what items are stored in the inventory and what needs to be re-stocked. Moreover, this tool helps you to identify your customers’ interest by analysing his/her buying trends in the past. Thus, you can modify your inventory as per your customer’s demands.

  • Integrates Multiple Channels:

    Retail business owners often need multiple channels functioning simultaneously to ensure all operations run in a hassle-free way. An ERP system for retail integrates all these channels into a unified platform. This allows various departments to share information in real-time.

ALSO READ: Importance of ERP Software in Textile Industry

  • Automate Sales and Payment Recording:

    POS system automatically records all sales transaction details; thus, it minimizes human errors and extra effort. An ERP software system that is integrated with a POS tool makes sales transactions faster and easier. By using this software solution, retailers can minimize customers’ waiting time for purchase billing. Moreover, this system also provides real-time data.

  • Effortless Pricing and Discount Management:

    Retail business requires a dynamic pricing system. This can be a tiresome job if you do this manually. A robust ERP solution can automate the process of recording the price of products along with discounts available on them. This makes the entire process simple and effortless.

ERP in the Construction Industry

The construction industry is challenging and competitive.

An ERP software solution provides a plethora of advantages from planning, project control, to cost and revenue estimation.

  • Proper Planning and Analysis:

    Improper planning not only leads to substandard completion of projects but also tarnish the reputation of the construction company. Builders can suffer from heavy losses in the form of labour costs and may lose clientele due to untimely completion of projects A construction ERP software can be implemented that can control all the expenses and budgetary allocation. This may also help in avoiding unnecessary downtime and contractual issues with clients.

  • Streamlines All the Data:

    Reputed construction companies often need to handle more than one client at a time. As a result, the exchange of information within the organization can become dreary and time-consuming. It’s a cumbersome job for the employees to manage and compile data (either in the form of individual excel sheets or Power point presentations) for multiple assignments. If a company needs to use different software solutions for multiple operations at the same time, then this can lead to an ineffective exchange of information among various departments. A construction ERP software solution manages all these tasks effectively.

ALSO READ: Does the Real Estate Industry Need ERP Software?

  • Estimates Construction Cost and Revenue Generation:

    Usually, construction companies work on a contractual basis with their clients. An Enterprise Resource management software will help them to determine accurate estimation that is required for raw materials, designs, labour, and the duration of the time. This will help the companies to calculate the actual costs that will not deviate much from the projected costs. Apart from cost estimation, the construction ERP software also allows developers to find out how much profit or loss they get from a project. This way, they will calculate the cost and time for future projects more wisely.

  • Enhancing ROI:

    ROI can also be measured in the form of other benefits. Every developer wants to increase their ROI from time to time. ERP software will help them to achieve this thing. ERP software helps construction companies to eradicate manual, time-consuming and labour-oriented processes. It also helps them in controlling expenditures in terms of raw materials and employees, minimizes IT costs, lessens unnecessary time, and thus, allows them to meet project deadlines.

ERP in the Energy and Oil & Gas Industry

As the demand for energy-related and oil & gas products and services are increasing exponentially, energy manufacturing companies are realizing the needs for ERP software. This kind of software makes operations smoother and more efficient.

  • Easy Integration:

    ERP software systems are designed in such a way that they can easily integrate with third-party applications in terms of cost and schedules. This helps companies to manage resources and overall costs. Moreover, this kind of software also allows companies to meet deadlines and deliveries.

  • Efficient Project Management:

    By using the top ERP software systems, the companies can effectively manage both their onshore and offshore projects. They can easily manage all parameters including schedules, finances, inter-department communication, and resources. This helps them to complete the project within the time and budget.

ALSO READ: Benefits of ERP for Chemical Industry

  • Risk Management:

    By using efficient ERP software, construction companies can identify project risks well in advance. Moreover, they can also get in-depth information on the potential success of a project. The software also embraces the clients to come up with exigency plans in case of emergencies.

  • Provides Assistance in New Employee Training:

    When a company hires new engineers, ERP software systems can be used to ensure that all the critical and imperative technical information is passed on to the novice employees. This software can integrate the new employees into the whole energy exploration, production, and monitoring process.

ERP in the Government Sector

Unlike private companies, the public sector organizations and government bodies are also impressed with the features of ERP.  It improves efficiency, reduces cost, increases transparency, and provides better security.

  • Cost Savings:

    As per the Gartner studies, half of the public sector companies are using cloud-based ERP solutions to save money. ERP solution minimizes the total cost, significantly reduces implementation times and provides better integration with other systems.

  • Strategic IT Implementation:

    ERP systems are helping both state and local government with the technology which will improve many things like how they utilize their budget, how they allocate their resources, and how they respond to demand. Now, blockchain, artificial intelligence, machine learning, and augmented reality are entering the government agencies and thus, these technologies are refurbishing their operations and other processes.

  • Increased Data Security:

    Cybersecurity is a prime concern for both state and local governments. The governments are taking every possible step to minimize the risk of data breaches. Using ERP systems, the public sector can implement world-class security and threat protection services.

The above article gave you an idea about the impact and influence of ERP in various sectors.

ERP systems can bring several improvements in multiple business areas, so companies should adopt ERP solutions to run their businesses effectively.

ERP software for General traders ERP software for Mechanical Contractors ERP software for Field Services

Tranquil is a prominent cloud-based ERP software system that helps you to manage your projects and business work in a hassle-free way. Moreover, with this software, you can access your business data anywhere, any time. If you want to manage an ERP software system, you can get in touch with Tranquil software.