Second-wave fears are driving businesses to adopt new technologies

With a second wave now firmly in place, COVID-19 is continuing to send ripples through the Canadian economy. Cloud-based solutions are fast becoming a critical tool to provide real-time insights and help businesses rapidly adapt to changing conditions.

A cloud transformation can help you be more responsive to a rapidly evolving landscape

2020 has forced us all to re-consider and redefine what is essential. Businesses that once offered a long list of objections to from working from home are now encouraging employees to set up home offices to keep business operations as normal as possible. Commercial property owners know this only too well, as many of their tenants have chosen to close their physical doors and open technological ones. We have entered an age where organizations that refuse to adopt new technologies will fall to the wayside.

Second wave realities

In his September 23, 2020 address to the nation, Prime Minister Justin Trudeau indicated a second wave of COVID-19 had already begun in Canada. "The numbers are clear,” he said. “Back on March 13 when we went into lockdown there were 47 new cases of COVID-19. Yesterday alone, we had well over 1,000."

During the initial months of 2020, people rode the fence on how Canada would weather the effects of the pandemic — and small businesses were forced to take a critical look at their finances and operating procedures. Today, the Canadian Federation of Independent Businesses (CFIB) predicts approximately 158,000 small businesses could close by the end of the year. A CFIB report revealed small businesses with less than 100 employees that had to conduct layoffs, downsized roughly 80 percent of their total workforce. Forty percent of small businesses with between five and 19 employees requested credit from a financial institution to manage expenses.

With predictions indicating it may take enterprises a year and a half on average to recover from this pandemic, it's time that many of them utilize the available technologies to boost business and navigate a second wave as we all adjust to a new state of play.

The benefits of cloud-based technologies

Maintaining access to resources is one of the most significant challenges businesses face in having their employees work remotely. It's no longer an option to meet in a boardroom or save information on a dedicated server employees can only access within the confines of the physical workplace. Cloud-based technologies have enabled companies to share information with the necessary parties; but company-imposed limitations have made it challenging to monitor projects, track results, and increase productivity.

Economic leaders have preached the importance of adapting — primarily through utilizing specific technologies and introducing solutions that allow companies to pivot. Economic shifts, unpredictable market fluctuations, and new forms of legislation are just the tip of the iceberg.

Cloud-based Enterprise Resource Planning (ERP) allows employees to track shipments, identify delays or decreases in productivity, and introduce solutions that colleagues can access in real-time. Documents can be created, stored and shared; and statistics can be pulled and analyzed when needed. Inventory and product management can be handled virtually, and human resource solutions can be provided across departments when required.

Cloud ERP platforms streamline, control, manage, and improve on the complexities of business operations within one robust, and easy to use solution. It's never been easier for companies from a wide range of industries to bring employees, departments, suppliers, customers, and programs together under one user-friendly system.

MNP Can Help

Very little has been clear about 2020. So why should adopting innovative technologies be any different? We understand that it can be overwhelming. Beyond making sense of ever-changing legislation and procedures, you need to consider your business's future in a pandemic situation very few have experienced before. That's where we come in.

MNP experts work with companies from every industry across Canada to implement effective and outcome-oriented cloud ERP technologies. Our dedicated consultants and technicians not only help you embrace a solution that benefits your company — they also provide insights, training and support so you never lose a day of business. We make sure you gain a wealth of knowledge of your company and access to award-winning systems specifically customized to meet your needs.

Our team members have committed to researching, implementing, and fully utilizing ERP solutions for businesses of all sizes. In a time when experts’ advice weighs heavily on our minds, we’re here to help you make the most of the technology available to you during this disruptive time.

Kerry Mann and Dan Caringi are Consulting Partners with MNP and leaders within the firm’s national Digital Enterprise practice. To learn how we can help with your digital transformation, contact Kerry at 647.480.8400 or [email protected] and Dan at 416.454.2677 or [email protected]