Covid forced many companies to re-examine their business. From technology strategies to marketing strategies, organizations were looking for ways to reduce cost, unite teams, and continue to scale.
As supply chains were squeezed, prices for shipping skyrocketed. And as the roller coaster of restrictions continued, finding an affordable tech solution to connect all team members was imperative.
At the same time, many companies were noting a shift in customer psychology as well. Customers began paying closer attention to the social and environmental impacts of a company, measuring it just as important as the convenience of 2 day shipping.
Those in mid market organizations were fiercely trying to examine how they could just not survive but thrive. That’s where many turned to the mid market Cloud ERP industry.
Sustainability matters beyond marketing
For many companies, looking at their environmental footprint is mostly for marketing reasons. They want the stamp of “green approval” indicating they are ethical and conscious of the environmental impact e-commerce business has on the planet. Beyond changing marketing copy, and finding better ways to package their products, many aren’t addressing core sustainability issues such as working conditions, carbon footprints, and raw material usage.
What many fail to realize is that their environmental footprint can actually impact their bottom line. We get into that later in this article; for now we want to highlight some key benefits that mid market companies see from paying attention to their sustainability efforts.
Some key benefits companies see from measuring and reducing their environmental impact are:
- Improved operational efficiency with reduced waste and costs
- Increased competitive advantages and access to new customers
- Enhanced long-term business viability
- Improved responsiveness to new and existing regulatory requirements
So how are companies achieving these results? Well, some are integrating third party sourcing apps, but many are turning to cloud based ERP software. Cloud based ERP software not only helps streamline many business processes , it can also help facilitate more clarity around supply chain management and sourcing.
What can a cloud based ERP do for your business and sustainability impact ?
As companies turn to cloud based ERP systems, the sustainability benefits of implementing an ERP are almost immediate.
Companies can have control over these key areas through ERP software:
- Responsible sourcing: ERP plays a key role in accurately analyzing, evaluating and monitoring suppliers to ensure the right choices are made to meet sustainability goals and preserve resources.
- Waste reduction: Many ERP systems support lean approaches to drive efficiency and reduce waste resulting in a lower carbon footprint by doing more with less.
- Supply Chain efficiencies: Having comprehensive control over the movement of stock and orders helps manufacturers combine orders and reduce inefficient shipments.
Mid market ERPs don’t run on clunky, hot server rooms. They also are becoming much more affordable to implement ranging from $15,000 – $30,000 versus $50,000 + for a traditional ERP implementation.
While many companies who are pivoting to focus on their sustainability efforts won’t employ a holistic approach to their technology, those that are are building a sustainable business that will continue to scale. Additionally, the teams that do pursue mid market ERP systems, will be better equipped for the changes and challenges of the future.