Resilience - the ability of a substance to return to its usual shape after being bent, stretched, or pressed.
It’s devastating to see a small to medium-size business with new innovations, revolutionary ideas, or promising growth fail because they weren’t prepared for unexpected challenges. This is something we’ve seen quite often in this past year. This is why businesses, especially SMB’s, need to focus on how they can make their business more resilient. As cloud ERP is constantly evolving, resiliency and interconnectivity are becoming more and more accessible for SMB’s.
Rainer Zinow, the Senior Vice President of Product Management – Small and Midsize Enterprises at SAP recently posted a blog on Forbes where he talked about 3 advanced ERP capabilities that are redefining resilience for medium-size businesses. Although I recommend taking a look at the full post here, I’ll quickly summarize those 3 capabilities for those in the community.
One True View of Business Data
According to the post, cloud-based ERP “is like having an MRI scan connected to your business all the time…”. This easy insight into data lets decision makers know what should be done more often, what should be done less, and where new ideas might make significant impact.
Integrated Business Processes
In a time where a company’s ability to be flexible and react to disruptions determines whether the business will survive or not, connecting all organizations – including processes and data - across a single ERP is a necessity to ensure business continuity.
Consistent, trusted compliance
Rainer uses a perfect example of a medium-size provider of natural, organic, plant-based foods and healthy snacks. Through cloud ERP they can, “simplify compliance with international regulations, trigger alerts, and apply visual key performance indicators to make fast, accurate decisions”. This enables the fast tracking of products and ensures that the company meets its obligations to consumers and retailers.
Considering that complying with sustainability law is becoming increasingly difficult as it is constantly being updated and changed, cloud ERP can help ensure that you remain compliant with any local and federal laws. Check out more about that here in this short demo.
What are your thoughts on this? How are you making your small to medium-size business more resilient? If there happens to be any SAP partners here, how are you helping customers improve their resiliency in uncertain times?
If you’re someone who’s interested in learning more or you have a specific question about your own business, I’d recommend dropping it here. You’ll be able to find answers from other people involved in SMBs just like yourself.
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