Over the past couple of months, organisations nationwide have found themselves in an unprecedented situation. Without prior warning they had to transition their teams to working from home. Due to this 50 days plus lockdown the nation is undergoing a huge socio economic turmoil. As we near the end of the ‘tunnel’ we all need to take measures to restore our businesses and resurrect our finances with diligence and faith.
No matter what industry you’re in, transitioning your employees to working remotely with ease and efficiency requires the right set of infrastructure and appropriate software tools. Team members need to be able to coherently participate in online meetings, engage in collaborative activities and access relevant documents and files along with considering security and compliance. All the team members with the use of effective ERP tools can collaborate and stay in touch from a distance ensuring that they are able to move forward with important projects even under these challenging situations.
Your team members can navigate directly from your organisation’s intranet page to their department’s secure SharePoint page. Here they can access important documents, review their departmental calendar, read news updates and more. Gone are the days of sharing files and updates via group emails. Instead team members can post news updates directly. It’s easy to populate these updates with important data updates with a best fit ERP software on a cloud platform.
We understand, there’s a lot to manage when it comes to getting your workforce set up to work from home. Team Expand is working incessantly while maintaining social distancing to support your business for restoring post covid situation. In our 6th edition of Expand Express we have curated articles to guide MSMEs through planning a strategic restoration to recover from the downturn.
I sincerely hope this newsletter adds insight to your plans of revival post lockdown. To know more about how implementation of ERP for your manufacturing company can benefit your business in streamlining and optimising critical operations and processes. Please drop a note or contact our Biztech expert for a free demo.
CEO, Expand ERP
Our goal is to support the MSME industries to emerge better from today’s unprecedented situation. It’s time to bring change and adopt transition. Evaluate how you are doing business and to understand what is available to help you perform better in future to stay relevant in the competitive market.
“ We must accept finite disappointment, but never lose infinite hope.”
-Martin Luther King Jr.
With hope, patience and perseverance we shall all overcome this crisis time. It’s a Global emergency. Our Government is trying all measures to bring justice to all industries suffering losses during this period. Before the end of the lockdown, PM Modi had declared a Rs. 20 lakh Crores package – equivalent to 10% of India’s GDP. To build an ‘Atmanirbhar Bharat’ all these fiscal and monetary measures will help restart an economy battered by the over 50-day shutdown of industries. Finance Minister Nirmala Sitharaman has addressed the media to share details of the massive package.
Some of the relief measures taken towards the growth of MSMEs are:
- Sources said the April-June wages of employees of MSMEs will be paid from the Employee State Insurance Corporation.
- The employee insurance funding or ESIC is a self-financing health insurance scheme under the government that is mandatory for employees earning up to Rs 21,000 rupees a month. The ESIC funds, which have Rs 31,000 crore at present, offer compensation in the form of cash up to three months of unemployment.
- The government will also pay the employees’ share of provident fund for those in the MSME sector who draw up to Rs 30,000 a month. The limit is currently Rs 15,000. This will cost the government an additional Rs 5,000 crore, say officials.
- A one-year moratorium on loan repayment for MSMEs will also be one of the proposals being considered.
- Small firms will be eligible to borrow an additional 20% of their credit limit.
- The government will also help small and medium industries in loans by paying a share of the interest or having the loan restructured.
- Small businesses have been the worst hit by the lockdown with their activity coming to a halt. Some 10 crore workers in mining, construction, manufacturing and services sectors have been left jobless due to the lockdown, according to various reports.
- Hundreds of thousands of cash-starved small businesses have either deferred or cut their workers’ wages this month, say industrialists and union leaders. The All India Manufacturers Organisation (AIMO)- an industry body representing some 100,000 small manufacturers – said last month that more than two-thirds of its members faced problems in paying salaries.
- Several states had written to the government to allow the use of funds collected under the employee state insurance funds to cover wages or at least a part of it for the lockdown period.
- MSMSe are small and medium-sized businesses with investment in equipment not exceeding Rs 10 crores. Small businesses account for nearly a quarter of India’s $2.9 trillion economy and employ more than 50 crore workers, according to government estimates.
The government is eager to ensure that the small businesses are given enough financial space to survive the lockdown and get back to work once it is lifted. With all these proactive measures taken by our Government we are sure that your MSME will soon be resurrected and overcome all the losses faced during this period.
Team Expand has also taken a step towards supporting your business by reducing the user charges for a limited period along with other user friendly benefits. Our newly introduced Phoenix Pricing Offer will help your MSME to revive as a Phoenix bird, which is known to resurrect from its own ashes. Empowering your business with cutting edge ERP technology and managing it online will make this revival even faster.
We humans all live with a hope of our dreams coming true in the future. Executing wisely and taking proactive steps adds value to your hope and faith which results in success.
PHOENIX PRICING OFFER:
It is time to restore your business. As we near the end of the lockdown, reviving your business is the first on your priority list. We understand your business needs. So we have introduced our new Phoenix Pricing Offer for mid sized manufacturers like you to cope with the economic slump post Covid situation. As Phoenix, a long lived bird from Greek mythology, that regenerates and revives itself from its own ashes, you too can boost your business and counter the economic slump. Let us take proactive measures and help regrow the industry together.
Expand cloud ERP software is India’s best fit ERP solution for midsize manufacturers in the export and retail industry. Manage your business online and dive business efficiency with ease.
Our customers are essentially our best advertisers.
“After completion of mammoth task of taking demo of available ERPs in Market I found Expand ERP is best suited for Exports of Auto Spare Parts and moreover its interface and functionality is user friendly to speed up tasks.”
Proprietor, Bajrang Auto Parts
Global news on technology:
1. Mobile Web, cloud to attract tech spending
The next wave of technology spending is expected to flow toward gadgets and software that help people access the Internet from any location, and interact online in more innovative ways. While the global economic downturn has forced companies to cut back on spending and favor technology like “cloud computing” that helps save costs, executives at the Reuters Global Technology Summit forecast growth in new wireless and online arenas. Ralph de la Vega, head of mobility and consumer business at AT&T Inc (T.N), said he expects a wider range of devices, from digital cameras to automobiles, to offer direct Internet access and smarter social networking capabilities. “Just about everything you touch will have the capability to be connected and to talk to other machines and other devices, in the next generation of wireless growth that is in front of us,” he said. Well-known venture capitalist Tim Draper said he was enthusiastic about companies, which have developed widgets to help Internet users share online tidbits with friends through sites like Facebook and MySpace.
2. Facial recognition firms are scrambling to see around face masks
Because of face coverings prompted by the coronavirus pandemic, companies are trying to ID people based on just their eyes and cheekbones.In the age of the coronavirus, face masks have become a part of normal life. They’re a safety requirement in many places, and for some people, a fashion statement. But for facial recognition technology, they pose a major challenge. Governments in more than half the World are making masks mandatory in various public settings. But don a mask and stare at your iPhone or Android device to unlock it, and you quickly see the problem for facial recognition. Before the novel coronavirus hit, facial recognition providers were expecting to install their technology everywhere: in airports, casinos, restaurants and schools. Face masks threaten to change all that, but the industry is looking at the situation more as a speed bump than a roadblock.
Some companies assert that their technology isn’t affected by masks, and that artificial intelligence can still detect and identify people with a high accuracy rate, even when half the face is covered.
A public beta program for Apple’s latest iOS release showed that the tech giant is updating its Face ID to account for people wearing masks. Google didn’t respond to a request for comment on whether it’s doing the same with Android.
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