Covid-19: Innovation For The New Normal
Introduction
We are all currently facing an unprecedented situation whereby safety and well-being continue to be the top priority across the world as we acknowledge the fast-changing challenges of Covid-19 posed worldwide. The pandemic undoubtedly has altered the way consumers and businesses behave. Remote working is being encouraged and becoming the new norm.
Businesses need to start innovating to keep up with the changes that comes with the new normal. Innovation ensures business continuity, proper financial planning to maximize cash flow, capability of adapting to changing competitive pressures, business plans and market conditions.
Listed are some innovations that will be accelerated post crisis
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- E-commerce platforms ready
- Digital payments
- Predictive analytics
- Connected enterprise
- B2C apps, B2B apps and delivery apps
- Digital procurement process
- Mobile Apps
- Cyber security
- Collaboration platforms
- Factory automation
- Internet of Things (IoT)
- Connected assets and remote services
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The Solution
SAP Business One Cloud is an affordable SME ERP solution to today’s alternative where most businesses are remotely working as it frees you from maintaining servers, doing back-ups and managing infrastructure. With minimal upfront investment, you can have access to real-time information, allowing you to run your business live and drive profit.
New and Enhanced Features in SAP Business One Ver 10.0 that are useful in the process of managing your business, NOW.
- Cashflow forecast with expense forecast, sales forecast, delay in payments, certainty levels
- Running business assessment report
- Running comparison reports to assess the normal vs new normal
- Activity management
- Opportunity forecast
- Backorder and open items
- Customer credit limit deviation
- Aging analysis for customers, vendors with doubtful debts
- Budget scenarios and deviations
- Inventory aging report
- Stock turnover analysis
- Resources capacity with resource properties
- Production std. cost management
- Service contracts
- Project stage analysis and open issues
- Mobile apps for remote working
Automation and Digitalisation Facility (ADF)
Recently announced government financing scheme available to SMEs via Automation and Digitalisation Facility-i (ADF).
Automation and Digitalisation Facility (ADF) is a loan scheme for Small Medium Enterprise (SME) to inventivise entrepreneurs to automate processes and digitalise operations to increase productivity and efficiency.
Thriving in the New Normal
Over the longer term, Covid-19 has irrevocably changed the way businesses strive over the next decade. Businesses that choose to capitalize on these underlying changes will succeed and the ones that don’t will get disrupted.
