Business Automation and Software Blog

While businesses of all shapes and sizes have experienced significant disruption over the past few months, executives are taking initiative to learn from these experiences. This slow emergence from the pandemic is an opportunity to radically rethink both business and operating models, and look for new ideas, technologies, and capabilities that can drive the path to recovery.

Spring cleaning took on new importance in the face of the pandemic crisis, with new reopening guidelines for cleaning and disinfecting public spaces, workplaces, businesses, schools, and homes. Any location that hosted someone who was infected or presumed infected was encouraged to take extra care when cleaning and disinfecting.

The pandemic crisis revealed the fragility of the modern manufacturing supply chain. First there was supply shock, followed by demand shock. Finding basic materials and products was sometimes impossible, revealing an urgent need to design smarter, stronger, and more diverse supply chains. Many businesses have experienced first-hand the hidden costs of single-source dependencies and poor flexibility in adapting to real-time shock. Change has already begun, but supply chain management and infrastructure is still in need of a broad overhaul.

It’s fairly safe to say that no one could have predicted that 2020 was going to turn out like it has. Accurate predictions are difficult to come by, considering all the factors involved in arriving at a specific future. Technology has made some predictions more accurate—the moon landing, debit cards, Wi-Fi, and cell phones—and continues to evolve in ways we have yet to imagine.

While the nearly overnight change to how many employees were working from home in 2020 due to the pandemic was initially nerve-wracking, many businesses are discovering that this new way of working could be a blueprint for the long term. Digital platforms made remote work with teams spread across neighborhoods and counties nearly as easy as when they all sat in the same building. As restrictions ease, many companies will never return to a 100 percent on-site workforce.

No matter what your company manufactures or the industry you’re in, improving warehouse operations efficiency is one of the best ways to boost profits and build your business. This begins with improving the receiving process. Receiving your raw materials and goods is the key to efficiency. Get this critical step wrong, and it can be hard to backtrack recovery. Early errors will be compounded throughout the rest of your process.

There’s no denying the pandemic crisis has changed how organizations do business, from reaching customers to working remotely. Another thing that has changed is the inspiration for digital transformation. Hard data isn’t yet available, but early numbers from an OpsRamp survey suggest digital transformation has rapidly moved to the top of the list for business priorities. COVID-19 has already showcased the value of IT and digital transformations. Organizations would be wise to use this time to accelerate the transition if they haven’t done so already.

As organizations pivoted to working remotely seemingly overnight earlier this year, HR leaders were tasked with responding just as quickly to provide necessary resources and ensure employee safety, wellness, and productivity.

The impact of COVID-19 on the global and financial markets is expected to continue to evolve. Both business and consumer activity have altered, which certainly impacts financial statements. Businesses are chasing high-quality financial information more than ever just to survive. But the accounting implications will be widespread, and likely felt beyond just 2020.

In only a matter of weeks, the global shift from an on-site to a remote workforce has already affected many institutions. Challenges are plentiful, and the unknown future is unsettling. The businesses that will manage best are the ones that have not placed focus on daily operational needs at the expense of investing in digital business.