Digital Transformation

2020 saw companies who's approach to digital transformation allowed them to quickly pivot - oftentimes capturing entire markets before the competition could respond. 2021 shows an increased demand for new market technologies - we talk about who did it and how you can too.

LinkSources

 

ERPodcast E26

CEO/CFO Report 2021 Links

 

Links mentioned in today’s Episode 26 of the ERPodcast

 

ERPodcast Episode 24 and Episode 25 Is a case study on one company, Nice Link Home Furnishings, who implemented the Cloud ERP Acumatica in the middle of the pandemic – here’s the link to the ERPodcast ERP News Page.

 

Arizona Coyotes NHL Hockey

 

In the Wall Street Journal’s recent 2020 Review, journalist Tom Vanderbilt cites his new book, You’re Never Too Old to Become a Beginner. 

Fender Play

The Software Eats World blog of Andressen Horowitz. In a recent article The CFO in Crisis Mode: Modern Times Call for New Tools 

2014 Blogpost from GeneHammons.com – genesis of the Component ERP Strategy 

SAP Stock Valuation loses 30B EU in Single Day From Computing

The Digital Transformation Series of ERPodcasts here. 

Here We source several articles from trade papers

Controllers Council notes the trend of technological innovation in the Finance office Link.

CFODive reports there’s a trend towards a return to Zero Based Budgeting –Link.

Auditoria CFO Corner – recorded 5 minute Zoom videos featuring leading CFO’s

 

Item Next – Digital is OK for those guys, but won’t work for me.

Book a hair appointment

Play Golf

Keep Score with Hole 19

Track your Road Bike Mileage with Strava

Controllers Council talks about innovation in the Financial Office

 

Again the Wall Street Journal reports covid spawned business changes that would have taken years unfolded in months – it brought 2030 to 2020. Link.

 

Final example, Here comes Forbes with an article on Copart –Link.

About today's ERPodcast

The uncertainty when Covid hit in the spring of 2019 resulted in a year's long effort to find out how clients could react and survive. Studying the market winners, it was determined that many sectors were beginning to thrive almost immediately after the lockdown.  Was it because they were well ahead in technology and used cloud based software to quickly pivot to new market opportunities? Or was it the most forward thinking companies tend to be more adventuresome in their approach to new technologies? The fact is, more and more companies are utilizing technology for competitive advantage and those clients naturally gravitate to firms like ProfitFromERP. Here's how 2020 advances can help your company do the same.

ERPodcast E26

CEO/CFO Report 2021 Cloud

Episode 26 of the ERPodcast –

MFX Up and Under

It’s the CEO/CFO Report 2021 - on the Top 10 Top 10 Lists for 2021.  Two things – one, as you may know, when we do a CEO/CFO Report we topload the info – listen to the first 90 seconds of the podcast and you’ll be exposed to all content – with the detail to follow. Also, as a busy C-level exec, you can find links on the ProfitFromERP website to learn more. And secondly, saving you even more time, every year end and the start of every new year, you get lists - Top 10 things that happened, Top 10 Trends for the new year…– so we’ve waded through all of the year end/year start lists and pulled out the best when it comes to business, business software, business efficiency, business productivity – we read through it all so you don’t have to - the best information when it comes to ProfitFromERP.

 

Here's what we’re talking about on the CEO/CFO Report 2021 –

There was huge growth among companies who were able to shift quickly to the new markets.

Digitally driven companies, cloud-based companies saw the highest growth rates and expansion – and we’re talking about traditional businesses now using cloud technology, engine manufacturers, pizza delivery, parts, musical instruments, furniture distributors, even junkyards – and if a junkyard can go digital, it’s a pretty fair bet your company has an undiscovered digital advantage just waiting. We’ll talk about how to find it.

Good Enough is no longer Good enough – many companies were operating on years old ERP – even Quickbooks and spreadsheets and as one client put it, “we couldn’t keep throwing labor and spreadsheets at the problem”.

Financial transformation – Often, the finance department is locked into historic company status – reporting what happened last month, often deep into this month. With the rapid changes happening in 2020, last month could be a world that no longer exists – so a balance sheet from another universe was beyond useless – well, maybe for nostalgia’s sake, the way we were, that sort of thing. Today, finance is shifting to cloud technology and reporting via dashboard what happened this morning and forecasting next week – and oh, yeah we’re closing the books on the second of next month instead of the 17th.

Today’s markets are in flux. Brand loyalty means zip when the brand you’re loyal to can no longer easily do business with you. As consumers and B2B customers are shifting allegances, is yours the path of least resistance? Or is it ‘the way we’ve always done it’ recipe one for the closed businesses of yesterday. Look, if doing business with your company isn’t the easiest possible way to access a product or service – you’re particularly vulnerable. And out of stock? Lost sale. Lost customer.

There were many losers in 2020, but one winner was technology. From Zoom which was under the radar and is now ubiquitous, to cloud based back office systems we’ve been driving our clients to since 2014 – while traditional software companies were spending their time to connect to a home based workforce, our digital clients were spending their time connecting to customers.

80% of Controllers surveyed reported that their companies planned to accelerate digital transformation – new software and apps – in 2021. Last year was a banner year for cloud based software vendors, if this metric holds, an 80% quest for new technology – good implementation consultants are going to be in scarce supply – unless you’re willing to bet your company on the B team, you’d better step up quickly. ProfitFromERP can help with that.

 

We’re going to cover these topics and give you the links for more information – and let you know what ProfitFromERP clients are doing with ERP, CRM, AI, BI, - what’s going on in the market so your 2021 plans can be combined with the reality of the 2021 ERP market and of course, how you too, can ProfitFromERP.

Sponsorship

 

If you’re a new listener to the ERPodcast you might be wondering what it’s all about. I’m Gene Hammons, Director of ProfitFromERP standing in the hanger of one of our latest clients where they keep these C130 cargo planes ready to respond to emergencies worldwide – but that’s just one of 400+ ERP projects we’ve done over the last few years. – And ERPodcast is the official podcast of Profit From ERP, a consulting firm that focuses on the business uses of software, or the business consulting side of software projects – mostly ERP or associated enterprise software such as CRM, HR, Business Intelligence and AI, supply chain and so on.

So, we don’t sell the software, we don’t install the software – we say just sell the Profit that can be made when a company approaches operational software projects the right way. When you do it right, you get Profit From ERP.

Here’s how it works.

You may realize your company is drowning in a sea of spreadsheets and nobody’s numbers match, and speaking of bodies, there’s so many of them around and we’re still floundering at month end.

So you call in Profit From ERP. We do a short engagement to analyze your specific business requirements and recommend two or three ERP vendors that would be well suited to succeed in your industry.  We also give you a benchmark cost revenue model to show exactly how the new ERP can make your business more efficient and profitable.

We have a network of Affiliate Partners – representing every major ERP system and run by expert teams who have great reputations from decades in the business. We’ve worked with these Affiliate Partners time and time again, so we know they’re proven experts.

We guide you through the evaluation and the implementation – and then – we’re there to make sure you achieve the goals you set out to accomplish – the Profit From ERP.

Having said that, it’s incredibly complex when you think about the different companies, industries, the different software systems and so on. So by bringing you the right affiliate partners, we help you do it right.

And we talk about some of the details, right here, most weeks on the ERPodcast – sharing some of the tips and tricks learned over the course of hundreds of ERP projects. From these huge C130’s to tiny microchips, molecules at pharma manufacturing, food & Beverage, Furniture, Distributors, manufacturers  - whatever your business Don’t drown in spreadsheets, send out an SOS via email to [email protected] We’ll get you connected with the right lifeline…for ProfitFromERP – our clients make ERP pay.

 

 

 

 

 

Welcome back to the ERPodcast, I’m your host Gene Hammons, Director of ProfitFromERP – so let’s just jump into our stack of stuff.

Up first -  When the  pandemic hit, we saw digital companies, companies that embraced technology and used tech as a cost effective business driver,