Effect of COVID-19 on ERP Development Agencies: Opportunities & Issues

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Effect of COVID-19 on ERP Development Agencies: Opportunities & Issues

Effect of COVID-19 on ERP Development Agencies: Opportunities & Issues https://i0.wp.com/www.noitechnologies.com/wp-content/uploads/add_a_heading__1_.png?fit=678%2C353&ssl=1 678 353 Visvendra Singh Visvendra Singh https://secure.gravatar.com/avatar/0e675e9b7fca446afd5ff8a5c60343b9?s=96&r=g

Enterprise resource planning can be a big boon to reviving supply chain management in an effective manner. During a time of crisis, ERP software development agencies can find opportunities to innovate by offering solutions to impacted businesses.

The unforeseen impact of coronavirus on the IT industries will surely cost the global economy more. The worldwide pandemic, which has already trapped the majority of countries has contributed to huge financial losses causing factories, industries, and businesses to shut down temporarily due to stringent quarantine measures. The number of cases growing day by day. It is also bringing new challenges and concerns for progressive countries like- the United States, India, Japan, Italy, etc. As huge numbers of factory workers are currently put on furloughs while many of them are working from home, there are no signs of revival in the coming weeks.

Effect of Coronavirus Crisis on ERP Development Agencies

Source – FT.com

Impact of Lockdown on Manufacturing & Logistics limits Supply Chain

As a typical measure to contain the outbreak, no option other than lockdown seems to exist in the corona-impacted world. The countries are opting for a nationwide 21-day lockdown as a measure to limit the containment of the virus. As a result, It has limited the global supply chain as people are no longer allowed to venture out of their homes thus disrupting the global supply chain. The businesses operating in the manufacturing and logistics industries are also experiencing a serious slowdown. In terms of accessing speculations about a positive future, the technology readiness post-COVID-19 is expected to bring revolution in the manufacturing and logistics sectors.

Impact of Lockdown on Manufacturing & Logistics limits Supply Chain

Source – mckinsey.com

Enterprise Resource Planning: Accessing Businesses & Global Supply Chains

As per the statistics released by the Institute for Supply Chain Management, more than 75% of businesses are experiencing a slowdown due to the impact of the supply chain because of the travel restrictions imposed amid the lockdown. In terms of understanding it from the global scenario, most of the products are manufactured overseas and sold in the local markets. Aligning it with the goals of enterprise resource planning, businesses can use automated ERP software to solve the hassles of supply chain operations to track business operations and functions virtually. This could be an opportunity for business owners to implement ERP to ease the pain points once the supply chain restores to partial operations in a limited manner.

COVID-19: Opportunities for ERP Software Development Agencies

Businesses are struggling with operations due to the scale of restrictions in highly impacted areas. The ERP software can come to the rescue for those industries that are allowed to operate but with a limited on-ground workforce. As ERP software offers great convenience of access from anywhere, businesses can look forward to restoring their supply chains without wandering to resume full-fledged on-ground operations. Here is an opportunity for ERP Software Development agencies to extend support to such businesses to transform business needs for virtual operations.

COVID-19: Opportunities for ERP Software Development Agencies

Unique Selling Proposition: How ERP Development Agencies Can Sympathize Impacted Businesses in COVID-19 Scenario

The digital world seems less impacted by the diverse impacts of coronavirus as the workforce can still continue to work through WFH methods. It is quite unfortunate for offline businesses dealing in manufacturing and supply, as they can’t operate from remote locations due to their limitations. Some of the businesses might have scope to operate but due to the lack of technological systems, they remain to be impacted for a longer period. In order to allow businesses to tackle the challenges through virtual mode, ERP solutions can be a substantial solution for their pain point in the current scenario. They can make themselves ready to operate amid the crisis to mitigate long-term losses.

How ERP Development Agencies can Sympathize Impacted Businesses in COVID-19 ScenarioOn the other hand, it gives greater scope to ERP software companies to offer solutions for impacted businesses so that they can revive themselves in a timely manner. Here are some of the USPs that could be the selling points to reach out to your target customers in a sympathetic way to extend them genuine support.

1. Remote Working: Managing Active Vendors and co-ordinating the process

Businesses operating on a scale need to coordinate with vendors and associated operations. In terms of crisis, it becomes crucial to have an assisted system that can ease this process by managing the active vendors and satisfying the demands of your business. This is quite hassle-free and time-saving as compared to keeping track of operations manually.

2. Operate Virtually with Limited On-Ground Workforce

Since most enterprise resource planning systems are hosted on virtual servers or the cloud, they can be managed through the convenience of any location. It is quite convenient to track vendor orders, keep them notified of the delivery status, and raise invoices through the in-built features. The ERP can help to operate business virtually with the limited on-ground workforce.

3. Data Forecasting Capabilities

The data-analysis ERP system comes with data-driven approaches to give in-depth insights into businesses. It can track revenue, stock availability, human resources, supply chain processes, and lots more through the ERP software. At this time, business forecasting can help businesses to eliminate the losses that they might incur in the coming days.

4. ERP Helps Businesses to Enable Digital Transformation

The need and necessity to be digitally compliant have become an evident solution in a COVID-19 scenario. It should be crucial to access the structure and identify the potential to drive business growth through digital solutions. Open Source ERP is one such solution to enable digital transformation.

Opportunities in the Medical & Pharma Ecosystem

The ERP software development agencies can eye on the medical and pharma industry to facilitate the supply chain system to fasten the delivery process of medical items. Since the government and hospitals are aiming for short supplies of medical equipment, healthcare ERP apps can become a substantial tool. It will not only help in terms of meeting end-to-end supplies but will also enable data-driven approaches to ensure adequate supplies through intelligent stock and vendor management. Consider the ERP one of the innovations that can bring a disruptive revolution in the supply chain.

Brighter Side for ERP Agencies: Eliminating Negativity to Capture Opportunities

It is quite understandable that thousands of ERP development companies are facing a major hit due to revenue losses as businesses mostly focus on cost-cutting. As clients are not clearing the invoices due to the impact and there are some speculations that companies might lose long-term projects. Here are some opportunities to focus on the potential for revenue and growth to ensure a better future in the post-COVID scenario. Since the present conditions are not in our control, we can definitely aim for a better future.