The COVID-19 pandemic delivered many important survival lessons for businesses globally with two clear reasons emerging as to why some have navigated the unprecedented disruptions significantly better than others – cloud technology and partnerships.
That’s the view of Vibhu Kapoor, Regional Vice President at Epicor Software, Middle East, Africa and India, who says when supply chains around the world were impacted by the lockdowns that temporarily halted and then slowed the flow of goods and materials, no business was left unscathed.
Supply chain uncertainties continue as lockdowns are reimposed in response to the pandemic’s ebbs and flows. This has resulted in ongoing disruptions to manufacturing and unanticipated shortages of products ranging from electronic components and car parts to toilet paper.
It has also had a massive impact on the way in which companies are able to service their customers with a seismic shift away from on-premises and face-to-face, to remote and online.
According to Kapoor, it is widely acknowledged that companies that have best been able to withstand the COVID-19-induced disruptions to business as usual are those that were, or quickly became, more flexible, resilient and agile, largely because of their adoption of cloud technology.
“As a provider of cloud-based solutions, Epicor has long touted the benefits of cloud, such as the fact that cloud frees up the resources that would otherwise be spent on finding safe and adequate space for servers, or the skills to maintain and secure them, enabling them to be focused on growing the business,” he says
“But the pandemic highlighted cloud’s other benefits – its ability to boost an organisation’s agility and flexibility. It was cloud, and cloud applications, that made it possible for businesses to quickly transform their operations to accommodate the ‘new normal’ of hybrid work environments, increased online orders and contactless delivery and customer interactions. Cloud applications proved their worth in the speed at which changes could be made, innovations introduced and supported, and generally in keeping businesses running.”
The benefits of cloud were highlighted in Epicor’s recently released Industry Insights Report, with 92% of all cloud businesses surveyed stating that they regarded themselves as leaders or on par with the competition in their respective industries. This contrasts with those mostly on-premises who felt left behind. In addition, 36% of businesses on cloud expected to recover by end-2021, compared to only 28% of those mostly or all on-premises.
However, apart from the value of cloud technology itself, Kapoor maintains there is another factor that has been no less important to the business survival: Having a trusted and expert partner to assist with the complexities involved in a successful cloud migration.
Recognition of the value of partnerships is not new. KPMG’s 2018 Global CEO Outlook report noted that more than half the CEOs approached for their input into the report identified the importance of agility within their businesses. But they also said this could only be achieved through third-party partnerships.
A similar conclusion was reached by the decision-makers who participated in Epicor’s Industry Insights Report. The report highlighted the fact that despite the obvious benefits of the cloud, concerns around integrations and data protection on one hand, and skills and resources on the other, were preventing some businesses from moving to the cloud.
Having a trusted partner to assist with the business’s migration from on-premises systems to cloud helped, with 47% of the Epicor respondents stating that a dedicated cloud migration partner was essential.
“There is no question that getting to the cloud is important but it isn’t something any business should approach blindly – even in times of crisis. If anything, the need to make the transition as quickly as possible means avoiding the many pitfalls others have made in their transitions,” Kapoor says.
He points out that experts in the field will have learned best practices from the many other companies they have helped migrate to the cloud, having tackled and solved many of the challenges faced along the way. The best partners, he adds, are those who stay ahead of technology trends, understand the demands of business and keep innovating.
“Any doubts about the power of the cloud to future-proof businesses, regardless of their line of business, have been put to bed by the pandemic. There is no other feasible technology model that can ensure long-term business success, given the scale and interconnectedness of global business, the amount of information that has to be processed and secured, and the uncertainties around the integrity of the supply chain.
“Businesses therefore need a platform that embraces innovation, enables agility and ensures the accessibility of meaningful data if they are to succeed in a rapidly changing and changeable world. The cloud is that platform and smart partnerships ensure its integrity and value,” he concludes.
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