For those who started their ERP transformation before the pandemic hit, it has had a major influence on their project. Remote working has expanded as millions of companies implemented it, and those who couldn’t do it have been through a rough patch.
As for the lucky ones who got to keep working on their projects, there have still been a lot of changes that needed to be applied to their digital transformation. Some companies responded to a poll, created by Raven Intel, and the results that we got is that roughly 90% of these companies had to apply changes to their ERP implementation. Only 5% got to go through with it normally, and 5% had to cancel their plans.
Either way, the costs involved in these projects are more than likely going to go up, and there might be some important delays applied as well.
For those using the ERP solutions on a daily basis, such as shops and food retailers, the disruption that stood out the most was the supply chain’s. In fact, manufacturers are under pressure at the moment, as they need to provide more with less; they are struggling to produce enough to meet the population’s needs. This problem weighs heavily on the supply chain. It also highlights the fact that automation in most factories might be needed. During uncertain times such as the COVID-19 pandemic, there would be lowered risks of contamination, and the plants could keep on producing what is needed at a more regular rate. This automation already exists for some products (such as toilet paper), but despite that, there was still a bottleneck in the supply chain, as shops weren’t being supplied on time.
For those selling the ERP products, this is a slightly different story. The pandemic is currently offering them an opportunity for the future. Indeed, as some sectors have been affected by their supply chain problems, it made them realise that there was a lot of room for improvement. A study from ABI Research predicts that the ERP software industry should see a lot of benefits coming from this pandemic, estimating manufacturers to spend close to $14 billion by 2024. There is no exact way to know what will happen, but one thing is certain: people want to run their business smoothly and get prepared in case of another hit.
Let’s not forget one thing: as of the end of June 2020, we are still not out of the pandemic. Please remain careful about your actions, and don’t lose hope for your business. The recent gigantic digital transformation wave might be benefiting you the most.
This article was written by Justine Brayer