Sink or Swim Business Trends in Today’s Economy

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) March 12, 2010 -- We all know someone, maybe ourselves, who have been effected by the recent economic events. Big corporations like General Motors, Washington Mutual, Lehman Brothers Holdings Inc and Mervyns Department Stores are just of few of the corporations dramatically affected by today’s economy. Thousands of people have had pay cuts, forced early retirement and job loss.

Growing up as a teenager, my high school locker room wall read, “When the going gets tough, the tough get going”. That old adage rings true today. Times are tough, and tough companies are changing the way they do business.

1) Trends in ERP (Enterprise Resource Planning)
More companies today are holding off replacing their internal ERP system, and instead, evaluating their internal business processes for improvement. Smaller “Best of Breed” solutions are being purchased, and integrated with existing ERP solutions. This is good for the niche software provider. Companies, who are engaged in a new ERP search, will likely find many more companies competing for their business. If companies are in a position to purchase or replace their ERP system, this is definitely the time to do it.

The other trend in ERP is a shift to SAAS (Software as a Service). Companies like Softengine, in Woodland Hills, CA., is offering SAP Business One as a subscription service and is very successful. Comparatively speaking, an ERP replacement can cost 100,000.00 plus. Software as a service delivers instant ERP solutions for as low as 100.00 a user, eliminating hardware and IT costs.

Software as a Service, Subscription based ERP is rapidly gaining in popularity. SAAS is an economically sound decision in today’s economy.

2) Trends in niche software solutions
While ERP replacement may be out of scope for many companies, niche solutions providing a rapid return on investment are on the rise. Octave Solutions in Orange, CA., has created an extension integrating Skype with SAP Business One. This one extension is saving companies thousands of dollars each month in telephone bills. Other companies are making Skype the standard when it comes to communication.

Products like CRM (Customer Relationship Management), Forecasting tools, Inventory Analytics, Advanced Planning and Scheduling solutions are on the rise, being integrated with existing corporate ERP systems. Softengine again is a leader in this industry, by integrating an Open Source CRM solution with SAP Business One, providing a “SalesForce.com” like extension to SAP Business One, for a fraction of the cost.

3) Trends in training and support

With the advent of the internet, telecommuting, global business presence and small company budgets, businesses are turning to self paced training, service on demand, and social media for help and assistance in place of hefty consulting fees. SAP has done a tremendous job at creating hundreds of recorded training sessions called eLearning, available to its customers. Companies like ESAP SAP Business One Online University in Tustin, CA., has created a revolutionary new approach in self service and support by offering a low cost subscription to SAP Business One eLearning, SAP Business One Forums containing downloads, reports, queries, tips and tricks. This new approach can save companies thousands of dollars on consulting fees, while providing product knowledge, expertise, and capabilities commonly purchased through consultants. Another dynamic of ESAP SAP Business One Online University is providing career minded individuals with the training and knowledge required in becoming a successful SAP Sales or Consultant professional. At a minimum, the SAP knowledge can increase the value of a career minded individuals resume.

In summary, companies are being forced to change. Change is necessary in order for companies to retain their most valuable assets, employees. Employee roles are changing to self support technologies, lower cost communication solutions and telecommuting. Education is being taught online, and software is being delivered on demand through subscriptions. The most effective marketing is conducted through social media sites, fueling new dynamics and businesses. Example; here is a high definition video on YouTube showing companies how to save thousands of dollars on their phone bill: www.youtube.com/watch?v=ptWjqjHpEJw

The definition of insanity is doing the same thing and expecting different results. What are you, what is your company doing differently to change? Have you taken the steps to reduce overhead, improve communication and marketing? Is your business aligned with today’s global economic environment?

Resources:
www.octavesolutions.com
www.softengineusa.com
www.esapuniversity.com
www.dirjournal.com
www.youtube.com

More information can be found online at http://www.esapuniversity.com

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