The post-pandemic economy requires re-evaluating priorities and budgets.

By: CPA Jorge Mejía

Founding partner Fusionworks

 

Talking about a post-pandemic era when people are still affected by it and companies are struggling everywhere may sound too optimistic, but sooner or later all crises end, or we get used to living with them. We are now fully in that era, and we either adapt quickly or will perish. 2021 will reach its closure with a more positive scenario for business, especially for mid-market companies that represent an unprecedented opportunity.

Pandemia y Cloud computingInvestments in all types of industries and many new ones unimaginable a few years ago make it clear that many companies are preparing organizationally and economically to face the challenges of the post-pandemic era. For example: It is clear that we have fully entered the labor digital age. What does this imply? Simply that in the post-pandemic era it’s very difficult to get a business off the ground if you go against the consumer’s current needs or preferences. In other words: businesses are forced to break down barriers and jump into the digital age to deal with much more informed customers.

Convulsive episodes of the economy and society always bring with them a rearrangement in the way of doing business, and create the need to have total control of your resources to invest in the tools that will lead to more efficiently reach our goals.

The crucial aspect that we need to rethink is the budget. At Fusionworks we have been a Prophix partner for 16 years, and we have equipped countless local private and public entities with this tool to have absolute control of their budget and eliminate human errors. This software redefines what we know today as financial management and brings changes that improve not only the processes of the company, but the experience of its users.

The best example to describe the positive impact that Prophix has on a company and its work team is the elimination of manual data entry and the use of Excel. This reduces human or formula failures that can lead to budget errors and wrong decision-making.

A simple way to approach it is with the concept of EPM or CPM (Enterprise Performance Management, Corporate Performance Management or Enterprise Performance Management Platform) that we mold in Fusionworks for our clients, according to their objectives and needs. We have implemented these systems with a lot of success in the sectors of banking, higher education, service companies, government institutions, insurance companies, and distribution, among others.

In 2021 we celebrate being selected as the Prophix North American “Partner of the Year”. Among the many business intelligence solutions we work for a variety of industries, this is essential, because to achieve a transformation in the way we do business, we need to optimize budget management.

The disruption in consumption habits caused by the pandemic forces us to look with new eyes at the way we conduct our business: from considering how the customer has changed, to how to maximize our resources to meet the new needs of the customer in this new, post-pandemic world.

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