{"id":9457,"date":"2020-03-12T06:17:53","date_gmt":"2020-03-12T06:17:53","guid":{"rendered":"https:\/\/za.syspro.com\/blog\/building-digital-resilience-for-a-new-business-decade\/"},"modified":"2021-03-04T14:50:53","modified_gmt":"2021-03-04T14:50:53","slug":"building-digital-resilience-for-a-new-business-decade","status":"publish","type":"post","link":"https:\/\/za.syspro.com\/blog\/digital-business-and-erp\/building-digital-resilience-for-a-new-business-decade\/","title":{"rendered":"Building Digital Resilience for a New Business Decade"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p>As we start to settle into 2020, it promises to be a momentous year for <strong>UK manufacturing.<\/strong> In a post-Brexit climate, there is an opportunity for our Movers and Makers to explore new avenues of growth, exploit new trading relationships and demonstrate their strengths on the global stage.<\/p>\n<p><!--more--><\/p>\n<p>The need for <a href=\"\/blog\/erp-for-manufacturing\/how-erp-can-build-digital-resilience-and-enable-you-to-gear-up-for-brexit\/\"><strong>building digital resilience has never been greater.<\/strong> <\/a>Our customers understand that cutting waste, driving efficiencies and streamlining operations through smarter use of data is key to their competitiveness. The challenge for us as an ERP provider is to help at this watershed moment and persuade more businesses to place <a href=\"\/product\/business-digitization\/\"><strong>digital transformation<\/strong><\/a> at the heart of their strategic plans.<\/p>\n<p>There is nothing like entering a new decade to focus minds and savvy businesses are taking this opportunity to secure a competitive edge in an ever-shifting landscape. SYSPRO 8 offers a gateway to a new digital era, an industry-built ERP platform with advanced usability and functionality, which is in tune with their pain points and can help provide a competitive advantage.<\/p>\n<h2><strong>Digital Technology Can Increase Productivity<\/strong><\/h2>\n<p>Developing digital capabilities is key to addressing the UK\u2019s productivity gap. UK productivity is currently more than 30% behind the US and around 10-15% behind Germany. According to the latest UK economic outlook from PwC, if the worst performing regions closed the gap on Germany by just 50%, it could add around \u00a383bn to the economy.<\/p>\n<p>The government\u2019s Made Smarter Review has already stated that adopting digital technology could increase productivity by more than 25% by 2025 and everyone accepts that digital enablers such as ERP will prove key in meeting future challenges.<\/p>\n<h2><strong>Business Challenges being Met with Emerging Technologies like AI and Social ERP<\/strong><\/h2>\n<p><a href=\"\/product\/erp-system\/\"><strong>SYSPRO 8 allows customers to digitize their business quickly,<\/strong> <\/a>affordably and with minimum disruption. It gives access to a range of emerging technology which can be applied to meet a range of business challenges. AI\u2019s embedded machine learning helps identify trends, the in-built digital assistant handles queries from customers and suppliers, whilst SYSPRO\u2019s social media platform, Harmony, supports greater collaboration.<\/p>\n<p>This new wave of innovation will help businesses use real-time data to make sound strategic decisions within a global economy. Post-Brexit, our businesses must build their digital backbone. Manufacturing is already responsible for \u00a3192bn of output. Be it advanced forecasting tools, financial planning modules, or assistance with trading regulations, SYSPRO will play an important role in adapting to new conditions.<\/p>\n<h2><strong>Company VAT records must be kept Digitally<\/strong><\/h2>\n<p>Digital resilience is also required for UK VAT registered companies with a taxable turnover above \u00a385,000. From April 2019, customers must keep their VAT records digitally and use Making Tax Digital (MTD) compatible software to submit their VAT returns to HMRC. Our Making Tax Digital for VAT app connects to the company\u2019s ERP system and collates the necessary 9-box report.<\/p>\n<h2><strong>The Importance of Technology in Gaining Competitive Advantage<\/strong><\/h2>\n<p>SYSPRO is better placed than ever to support increased digital adoption. Last year, Panorama Consulting named SYSPRO in its 2019 Top 10 <strong><a href=\"\/industries\/manufacturing-software\/\">Manufacturing ERP Systems<\/a> <\/strong>Report. It highlighted the value of its solutions in driving manufacturing performance through flexibility, digital innovation, and ease of use.<\/p>\n<p>Panorama\u2019s 2020 ERP Report goes on to highlight the importance of gaining a competitive advantage by replacing outdated technology. It\u2019s encouraging to see that 34% of respondents had shifted away from legacy systems, compared to just 14% the year before. These systems are unable to offer real-time data insights and it is precisely this capability that will allow SYSPRO to continue taking major strides in the year ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As we start to settle into 2020, it promises to be a momentous year for UK manufacturing. In a post-Brexit climate, there is an opportunity for our Movers and Makers to explore new avenues of growth, exploit new trading relationships and demonstrate their strengths on the global stage.<\/p>\n","protected":false},"author":165,"featured_media":7785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[127],"tags":[45,109,280,281,276],"class_list":["post-9457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-business-and-erp","tag-business-software","tag-erp-and-analytics","tag-erp-and-data","tag-erp-and-digitization","tag-erp-and-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Build Digital Resilience For a New Business Decade | ERP Tech<\/title>\n<meta name=\"description\" content=\"The Need for Building Digital Resilience has Never Been Greater. 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