As we move beyond lockdown, many businesses will be dusting off their Business Continuity Plans and reflecting on how pointless they were. The vast majority will not have included provision for a Global Pandemic - some updating will likely be required!
More practically – now would be a good time for finance teams to reflect on whether they were able to:
- Use their ERP system effectively whilst working from home?
- Run appropriate approval routines without everyone being in the office?
- Deal with or take advantage of changes in buyer behaviour – the big switch to eCommerce?
- Provide their businesses with the real-time data required to better manage cash?
If the answer to any of those questions was no, an update or replacement project may be required. TNP would, of course, be happy to help (get in touch with our friendly team here!)
As businesses start to wrestle with the challenge that the post COVID-19 economy will represent, they may also want to reflect on what they learnt as a result of many staff being on furlough. Some senior managers may have been exposed – perhaps for the first time – to the madness of some internal processes. If they didn’t know that their business was inefficient before, trying to run the business without many of the people who just made stuff happen will have taught them so. This learning will be useful as they start to think about how they are going 'to do more with less'.
To recover what their business has lost through the lockdown – or thrive through the recession that we’re now in - many businesses will need to drive a step change in productivity. That’s going to require some fresh thinking about how they run their business – and the smart use of technology. Those staff who can’t be redeployed will need to retrain. It’s in that context that TNP really welcome Microsoft's latest initiative to help 25 million people worldwide acquire digital skills to help in a COVID-19 economy.
It’s another great reason why we choose to work with Microsoft.