Companies operating in today’s challenging economy are understandably cautious when it comes to investment, but the truth is that spending money on reliable, cost saving – and cost-effective technology is much like taking out insurance on the sustainability of a business and its ability to weather the storms.
This is according to Guenter Nerlich, CEO of Human Capital Management (HCM) and HR services and solutions specialist AWM360 Data Systems.
“In turbulent economic conditions, there is a tendency by decision makers to hold on to funds and avoid or postpone spending. However, an economy in trouble demands sustainable solutions… every Rand counts, especially when it comes to intellectual property and people development!” says Nerlich.
And it is specifically within the areas of HR and HCM where businesses are forced to be prudent and strategic, particularly in terms of acquiring and implementing technology.
Hardware and software solutions, developed by leading suppliers like Kaba AG, introduce aspects like automation, biometric-based control and other features designed to optimise and enhance investments already done in enterprise systems such as SAP.
“No business today, irrespective of size or focus, can afford to implement technology that does little to enhance operations and improve HR or HCM functionality. Workforce management and enterprise data collection solutions are a significant element of today’s and future HCM infrastructure management strategies,” Nerlich continues.
Businesses require solutions and support to leverage off innovative and state-of-the-art workforce management.
This means being in a position to take advantage of automation and other advances. “Look for solutions that are giving you a significant return on investment and that are sustainable, long-lasting investments and profitable and contributing to a company’s results – mid-and long-term,” Nerlich adds.
Experienced service providers like AWM360 are focused on helping businesses devise strategies, apply the right technology and enhance processes.
Providers and industry experts like Nerlich believe it is important to ensure that clients are in a position to take advantage of opportunities as the economy returns to a positive growth cycle.
Business development and success is all about timing, and about being in the right place at the right time, says Nerlich, so when there are extreme economical challenges – as is the case right now – it is the right time to invest, reinforce, strengthen and manoeuvre using the most effective strategy.