Identify and Overcome the Most Important ERP Implementation Risks

With the emergence of technology, you would have heard of the term ERP for sure! Enterprise Resource Planning, abbreviated as ERP, is a type of software used by organizations to manage and streamline their business processes, including accounting, human resources, inventory, and supply chain management. ERP solutions provide an automated system for integrating and managing operations of the business from various aspects resulting in improving efficiency, minimizing costs, and enabling organizations to stand out amongst their peers.

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ERP – A Smarter Way to Handle Recession

Bank of America CEO, Brian Moynihan states the Bank is planning to operate in a recessionary environment in 2023 (CNBC,2023). Bloomberg’s monthly survey also predicts the United States working towards a recession, with declining GDP and the soaring rate of inflation drastically reducing the spending power of consumers and businesses in the U.S. Bloomberg also anticipates unemployment to reach 4.9% by the first quarter of 2024, which itself is not a welcoming sign. On average, investments are projected to decline by 3% and industrial production is expected to deteriorate by 0.7% in 2023. Read More