Brexit – and why the right ERP is now more vital than ever.
If you woke up on 24th June thinking the world was about to end, you’re not alone. Many in the UK business sector had backed the Remain campaign, so the vote to Leave came as something of a shock.
Since then the financial markets have seen turmoil, interest rates have dropped and dozens of different scenarios have been talked about. In other words, over the next few years only one thing’s for certain: uncertainty.
For businesses, Brexit will bring disruption. The UK will still be a member of the EU – and governed by EU regulations and compliance – until the negotiations to leave are concluded, which is at least two years away (as the now-fabled Article 50 hasn’t been triggered yet).
After that, no-one really knows how regulations, policies and trading agreements will shape up, but the impacts are likely to be fundamental.
You’ll most likely have to revise your current systems and policies to meet a new set of regulations, including changes in Employment Law; if you have suppliers or customers in Europe, you’ll have to cope with added complexities to maintain those relationships; and new trading arrangements may well significantly alter VAT and duties.
Doom and gloom? Or onwards and upwards?
If that all sounds very negative, it shouldn’t. Like the shift towards globalisation in business, such changes can translate into opportunities.
Not only does that depend on your outlook, it depends on having ERP that’s robust, responsive and flexible – the sort of system that, in uncertain times, can provide certainty during periods of growth and transition.
In a post- vote article in the Daily Telegraph, no less a figure than Sir Martin Sorrell outlined the approach his business, WPP, will be taking to Brexit: “Ninety per cent of our business is outside the UK, so…our strategic reaction is essentially to pursue our current approach even more vigorously than before. That means a greater focus on the fast-growth markets; a greater focus on data and digital; and a greater focus on getting our people to work together more effectively across national and functional boundaries for the benefit of our clients.”
All of which can be achieved much more easily with the right ERP system in place.
So whether you voted in or out, your business is going to have to work harder than ever to adapt to the new world. In other words, your future success may well depend on ERP, rather than EU.
To see how ERP can help your business after Brexit, talk to one of the team at the North-West’s leading provider. Just call 01606 871332 or email us here at Percipient.
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