Business Automation and Software Blog

There are multiple plusses to having a recurring revenue model, such as having predictable revenue that remains largely stable into the future. Businesses with recurring revenue models experience less risk and more revenue predictability, while customers enjoy regular delivery for things such as standing pet food orders or box subscriptions.

Profit is the lifeline of many businesses, and predictable profit can be the difference between growing, or not. The last thing you want are surprises, such as finding major gaps that are draining your bottom line, especially if those gaps aren’t discovered until it’s too late.

Like many areas of technology, artificial intelligence (AI) gained more attention and interest with the rapid and drastic changes to work environments that 2020 experienced. Still, mid-sized manufacturers may relegate AI usage to the bigger players in the marketplace. In reality, AI is for many different types and sizes of businesses, and with manufacturers of all sizes needing to adapt to new realities, AI could be a major player for them:

It’s no secret that 2020 challenged businesses in many new and unexpected ways. From deeply interrupted supply chains to a near overnight switch to remote work, 2020 made organizations take a critical look at processes to uncover where they were more resilient than expected—and where significant work was still needed.

The manufacturing response to the disruption of 2020 was found by one study to be largely reactive and uncoordinated, with many firms’ crisis communication plans not including management of an infectious disease outbreak. Certainly, there are challenges for manufacturing when dealing with such an abrupt, massive disruption, from supply chain disruptions to shortage of business system accessibility, to a lack of worker availability.

With the lockdowns and recessions that resulted in 2020 from the COVID-19 pandemic, the world of work has changed dramatically. For some, the labor market outlook is considerably more uncertain than it was this time last year as remote work and other accelerated technical adoptions—such as robust business management systems—created a new frontier for the world of work.

There’s no doubt your IT team is talented, but not every business is going to have in-house software development resources with the expertise to take on enterprise software projects. That’s when a software consultant comes into play, providing expertise on the market, business, industry, and of course, the software solutions that meet those needs.

This year, more than ever, supply chain management has experienced seismic shifts and changes. From economic pressures to trade disputes to the global health crisis, change in 2020 has been unpredictable at best. In addition, some problems have compounded as various companies shut their doors for COVID, and others shut their doors for good.

More than any other year prior, 2020 has highlighted the need for companies to look at business operations quite critically. Especially in light of the COVID pandemic, technology has become an essential part of the process of mobilizing the remote workforce and increasing collaboration.

Over the years, the role of the CFO has transformed from “head bean counter” responsible for accounting and reporting past activities and transactions to report on what happened in the past. Now, modern CFOs are asked to focus more on taking the information of what happened in the past to shape the narrative for the future of the company.