How ERP's can help businesses survive the impact of COVID-19
The Covid-19 has become the great plague of our times. At the time of writing this blog, 722,196 people have contracted the disease and 33,976 deaths have been reported worldwide. With the lack of any vaccination and the disease-causing acute pneumonia, the situation has rolled out of our hands and governments across the world have been struggling to keep the death count as low as possible. Research centers and scientific communities around the world have been working day and night since the inception of this disease to churn out a vaccine. So all we can do is to avoid the situation from getting any worse. The global economy has come to it’s worst at the moment. We are in a severe economic crisis after the one at the time of the second world war. Supply chains have been disrupted, production has been stopped and due to the lock-down of various parts of the world, business firms are being shut down indefinitely.
To overcome this situation, first of all, we need to get out of the grasp of this pandemic. With several scientific communities and institutions working tirelessly for a cure, hopefully, we’ll be liberated from these hardships soon. Once we are fully rescued from the situation, the business should function normally and more efficiently than before to reinstate our economic stability. This can be a huge task as the condition of our economy would be so wrecked. So, uplifting the business to a highly productive stage requires modern and innovative measures. Using an ERP at your firm is a key solution for this. ERP a tool that comes handy at this type of situation, never like before. An ERP like Odoo, with its Business Intelligence, reduces workforce requirements and increases productivity by helping to utilize a company’s full resources effectively and thus attaining maximum productivity. What all things does Odoo has to offer in this business crisis? Let us examine.
The automation of various tasks and functions of business aspects like Manufacturing, CRM, Purchase, Inventory, eCommerce, etc. allows the company to run properly even at the times when employees are not abundant. Production, Invoicing, Lead Generation, automation of Manufacture, Purchase, and Stock movement with the aid of previously set rules provides perfectly navigated paths for your business. These facilities can be highly useful once the production is restarted. Even at the moment, those industries which have the permission to manufacture under strict safety measures adopted can work properly with minimal employee count. With only a handful of integral employees and the production shutdown, you can keep your company alive by utilizing our CRM, Purchase, and Sales, Project and Planning modules by planning tasks and activities for approaching times.
eCommerce and Lockdown
Due to the COVID-19, eCommerce platforms around the world have reported from around 70%-190% increase in sales of pharmaceuticals, grocery and everyday products. Indeed the world is in preparation for quarantine and lock-down. There may be companies with warehouses and outlets full and unable to selloff any product because of the lock-down and quarantine. In such a situation, with Odoo you can immediately set up a new eCommerce website to keep the sales going. Setting up a website for eCommerce is so simple in Odoo. For the looks and feels of your website, you don’t have to hire any UI/UX designers as Odoo itself provides very elegant and attractive themes. Odoo also offers extra options like complimentary product suggestions and product comparison. The integrated modular platform of Odoo enables spares you of any extra data entry works.
Remote management is the key feature of any ERP and Odoo does it so well. Various governments have imposed intra-transportation curfew on countries along with the lockdown act. This, in fact, backfires business organizations with traditional paperback management schemes. With transportations cut off, the physical presence of employees in the office is impossible and this results in the complete shutdown of companies. But with Odoo, you can manage every integral activity from your home. All you have to do is to have access to the internet and a computer. Keep your business activities flowing by having access to your company’s database at any time and anywhere, thanks to Odoo’s highly efficient functionalities and Business Intelligence.
Catering to High Demands For Products/Services
When the production commences after resolving the pandemic situation, companies and employees will be on the pressure to meet the high demands for products. The disrupted supply chain, production restricted due to lockdown and thus the scarcity of daily life products necessarily creates a high demand and no stock situation. To overcome these challenges, companies should be equipped with the best ERP solution and you can trust Odoo with all these actions. With its efficient Manufacturing module, you can manufacture a multitude of products with minimum damage and good quality. Plan and schedule employee shifts and activities with for weeks ahead. Various reordering and purchase policies in Odoo enable you to purchase components required for production. Simply put Odoo ensures fast and scheduled production.
Virtualization of Transactions and Business Communication
The visualized transactions and Internet Banking facilitates the transaction of money between bank accounts/E-Wallets and they replace transactions with currency. Even though almost all of the business organizations have adopted these methods for trading, the accounting has to be done separately. But Odoo’s integrated platform enables you to solve this problem. With Odoo, you can avail of all your transaction details in the Accounting module, as it is automatically shared. Now, this facility is more than necessary for firms as the traditional paperback accounting is almost impossible.
Also, another important aspect of a successful business is effective communication. Ensure secure business communication, within your organization and to your clients and partners, without any spill of confidential information. Odoo ensures the sharing of the project and other integral documents between employees of any numbers, who are not physically present but remote from each other. Effective communication is the key to survival and growth, especially in these challenging times.
The whole purpose of an ERP is delivering quality management services at with low cost to the company. With production put into an indefinite halt and company revenue at its lowest, it would be important to find the apt ERP provider offering robust and customized service, keeps lowering business management costs at its minimum without compromising the quality of service.
Even though we all are going through tougher times, this too shall definitely pass. With entrepreneurs investing their whole life in their business, we will do our best to keep your business safe and alive. Stay safe and Healthy.