Heaptalk, Jakarta – As the end of the year approaches, the pandemic is hitting more and more businesses. The Central Bureau of Statistics noted that more than 82 percent of the country’s businesses were affected by COVID-19. The accommodation and culinary sectors are the most affected. The income of business communities in these two sectors fell by more than 92 percent.
While many businesses are struggling to survive, some have found opportunities to scale or grow the business. For example, the logistics sector has experienced growth throughout 2020, thanks to many customers shifting several activities to their homes.
Scaling in the era of pandemic
Although it is not easy, developing a business during a pandemic is not impossible. Some startup founders acknowledged in LinkedIn’s Top Startup list shared many tips related to this issue.
No need to present a solution for all problems, just the most crucial one
Manny Medina, CEO of Outreach, has tried to build a service that helps the job providers works. Then it is more focusing on managing a platform for company sales engagement activities. However, after several years of running the business, he and three other co-founders realized that they only needed to present a solution to the engagement aspect.
“When clients say they can’t work (when the service is down) and you have to stay up all night to fix the problem. That’s when you know you’ve reached product-market fit,” said Medina.
Outreach has focused on delivering solutions to the core problem it wants to tackle, sales activity engagement.
Ready to pivot any time
Companies need to be ready to change their business model or pivot, especially during a pandemic when consumer needs are shifting. One startup that has successfully pivoted amid the pandemic is Curative, a biotech startup that initially aimed to create a test kit to diagnose infections.
When COVID-19 broke out, this startup realized that its access to patients was limited. The need for COVID-19 tests also increased, so they then decided to develop a detection test kit.
Curative’s pivots to keep up with market needs have proven to be precise. His test kit has now received approval from the United States food and drug regulatory agency to be used as a COVID-19 detection tool.
Isaac Turner, the co-founder of Curative, admitted that his company’s pivot was successful thanks to the support of parties and acquaintances who helped the company’s transition process and provided direction throughout the transition process.
Don’t underestimate company culture
Even though most people often have seen it as normative, the company founders on Linkedin’s Top Startup list agree that corporate values and culture are essential in developing a business. Having team members who match the company’s values and culture allow the company to operate relatively smoothly, despite several obstacles.
For example, amid restrictive conditions that require employees to work from home, when employees have a mission and uphold the same values as the company, they will quickly adapt to the situation to continue pursuing the company’s vision.
Leverage technology solutions that support scaling
Apart from the three strategies above, companies can apply another tip to take advantage of supporting technology. One of them is enterprise resource planning (ERP), or a system that integrates all company business processes.
According to Bart Perkins, Managing Partner of Partners Inc, a business consultancy and information technology-based in the United States, ERP systems allow companies to reduce the time it takes to complete nearly every business process. ERP helps companies in many ways, from integrating financial information to order management, human resource affairs, and the supply chain.
How ERP helps companies scaling
One company that uses an ERP system to develop a business during a pandemic is Solar Time, Hong Kong. The company that designs and manufactures these watches faces a thorny problem when COVID-19 starts to break out.
Initially, to manage more than 18,000 stock-keeping units (SKUs) or inventory types, the company relied on third parties. The most crucial things are in warehousing, fulfillment, and distribution. When COVID-19 forced companies to stop promotional activities, they decided to execute a project they have prepared for a long time; build an in-house logistics system that will reduce costs and provide complete control over the supply chain and distribution.
Choosing the right ERP for business
The use of ERP systems in Indonesia is increasingly widespread. According to market research firm InkWood Research, companies’ total application market value in 2020 is likely to reach US $ 1.8 billion (IDR 25 trillion). And for an annual growth rate, it reaches up to 14.07 percent since 2017.
There are many ERP software that companies may consider for their scaling purposes in this uncertain time. One of them is an ERP solution from Odoo to help any business grow.
The ERP by Odoo is an integrated, intuitive, and scalable open-source enterprise resource planning (ERP) software company for various business scales.
“During and after the pandemic, every sales opportunity becomes more important than last year (when the economy is booming),” said APAC Director of Odoo, Matts Fievez.
“To manage sales in the most effective way possible, management tools like CRM help build customer relationships. and lead tracking. ”
Odoo offers an all-in-one solution that allows companies to integrate all their business needs. This company provides tools ranging from A to Z. For example, CRM, human resources management, finance, payroll, and other management tools that you can find here.
Fievez explained, Odoo also has an E-Invoice feature designed specifically for businesses in Indonesia. Without having to double-input in Odoo and Excel, it is convenient to create Excel Spreadsheets through Odoo transactions.
Some companies in Indonesia have entrusted their operational business management to the Odoo ERP system. Two of them are the culinary business of Abuba Steak and the Meat ‘N’ Fresh meat retailer.
