Strategies to Help Your Business Navigate the Pandemic

Social distancing has become our best-known way to curb the spread of the COVID-19 virus, but remaining at a distance is not always easy ‘at the office’. While economies across the globe begin to re-open, some companies are keeping physical locations at reduced staff with much of their workforce working remotely. 

So much of the world is operating in new ways and hearing daily updates on this pandemic can get stressful. Let’s take a moment instead to consider our next steps. After all, this lockdown can change the way you do business for the better-and with careful planning, even come out more robust. 

Adopt New Sales Channels

Due to COVID19, many governments have incorporated a shutdown of local businesses and retail shopping in some form. 

Humans are consumers, however. Whether we’re stuck at home or not, we long to shop and buy the things we want and need. The pandemic and resulting shutdown have created opportunities for businesses to serve new markets through alternative sales channels, and you can too. 

Get creative, search the web for what other companies in other areas in your vertical are doing. Determine if there is something you’re not doing but should.

Reignite sales by adopting new sales channels you’ve never considered before. Do your customers use your products or services differently than they did before the pandemic? Are there any changes to your existing products or services that you could easily repurpose to serve a new market created as a result of the new normal?

Customers are rapidly changing the way they discover products and respond to offers. Businesses should understand the tools, data, and analytics available that make the marketing and sales processes more refined. 

If your company is active on social media, consider sharing part of your company’s journey through these times. Merge some of your newly discovered trends from above into online marketing efforts or by creating conversations on platforms like LinkedIn or others.

Beware, today’s consumers see through the hype. This is more of an opportunity to humanize your business and less about using the pandemic to your benefit.  

Accessible Connectivity

Parts of the global workforce remain working from home to limit exposure and continue slowing the spread of the virus. In some cases, entire facilities are closed, allowing staff to connect into local networks from home. A substantial number of employees attempting to connect to the same network, files, and databases creates substantially higher traffic on remote local networks, and load capacities can become a problem.

Companies that use cloud ERP have completely overcome this problem. In the cloud, teams can easily access live data and information from anywhere. You no longer need IT support staff on-location to administer updates or field problems. Cloud ERP systems are automatically updated offsite and running on the latest, most accurate data.

Financial Control

Your company’s financial aspects remain a central and strategic component to your survival where managing accounts and maintaining cash flow are vital. These are particularly crucial through the unexpected and challenging financial times that lie ahead

Cloud accounting delivers accurate, real-time visibility that allow finance teams to conduct business virtually. 

Financial data management tools provide full control of accounting functions remotely. The cloud gives the convenience and flexibility to manage financial functions – from tracking everyday finance operations and producing financial statements to posting accounts receivable and matching paid invoices to purchase orders – like another day at the office. 

Engage with Suppliers

Get in touch with your suppliers to find out how they’re managing through the pandemic. A risk analysis will help you uncover areas where you need to expand your list of suppliers when an existing supplier can’t meet orders. 

By diversifying your supply base, you ensure better availability of goods in the event of another disruption. You can also adopt risk evaluation and management tools offered by cloud ERP solutions. 

Cloud ERP helps you manage supply chain risk by making your entire chain more resilient to change and enables better tracking of resource utilization.

The global pandemic is affecting many businesses while also changing consumer behavior, but cloud ERP systems allow operations to continue while keeping teams and suppliers connected. New and innovative strategies don’t come easy, but with a little creativity and cloud ERP, most of the work is done for you. 

Thinking of adopting Cloud ERP? Consider Sage Intacct.

Sage Intacct is known worldwide as the cloud technology that lets you do more in fewer steps for more accurate results. With so many benefits, it’s the solution trusted by healthcare, manufacturing, and retail industries worldwide.  

As a Sage Intacct Partner, e2b teknologies is a best-in-class provider to move your business to the cloud. Learn more about how with e2b and Sage Intacct, you can overcome the disruption challenges and transform your business.

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