As Brexit looms, business owners across the UK are currently finding themselves in a state of uncertainty. Nearly two and a half years since Article 50 was triggered, which direction the UK will head in is still almost impossible to predict and as a result, many businesses are stuck in limbo, wondering what the future will hold.
In particular, one prominent concern across UK businesses is the impact Brexit will have on imports and exports. For manufacturers, warehouse distributors, retailers and business leaders, this is threatening to derail their supply chains, which, in turn, poses great risks on their business operations.
In a time of such uncertainty, one thing that is clear for businesses is that they must begin looking for ways to make their business agile in the face of change – and the answer lies with NetSuite.
Due to the economic uncertainty that comes hand-in-hand with the decisive Brexit decision, this could result in reduced revenue for manufacturers and increased trade complications which could make operating costs more expensive. For instance, due to the introduction of regulatory requirements and custom inspections the time taken to get goods from one country to another will inevitably escalate, meaning trading with neighbouring EU countries will become increasingly difficult.
In light of this, many businesses are stockpiling goods and resources ahead of the UK’s departure from the European Union. However, this requires a huge amount of storage space which businesses simply don’t have, providing only a temporary solution to the problem.
If manufacturers, distributors and retailers are to stay afloat post Brexit, they must identify the effects of Brexit on their key activities and how they can reinvent their business to increase efficiency. To prepare for the impacts of Brexit, according to Deloitte, manufacturers should ensure that they have complete visibility of their supply chains, hiring processes and currency exposures. This can be done by digitalising businesses back-office processes, which will enable them to streamline their everyday business processes and boost growth – providing them with the means to disrupt the value chain.
How can NoBlue help?
NetSuite is a cloud-based software solution that allows businesses to bring together their key business processes such as accounts, customer management, eCommerce and stock management into one, easy to use piece of software. As it’s in the cloud, NetSuite is available whenever and wherever businesses need to access it.
While Brexit may implement boundaries, cloud computing is not restricted by physical boundaries. NetSuite in particular has been designed to embrace change and has the flexibility to adapt with it. Services such as the cloud-based ERP were built with adaptation in mind, allowing for the system to grow and quickly change to suit any major changes needed. The NetSuite platform is constantly evolving and is regularly updated, which often goes unnoticed by NetSuite’s users as these updates are rolled-out quickly and across all systems simultaneously. As a global platform, a common theme NetSuite has managed over the years is a change in business regulations or changes in taxation’s which can occur in any country.
By digitally transforming business operations with NetSuite, organisations can eliminate inefficiencies and increase operational effectiveness, whilst maximising value. And with the help of NoBlue, a 5-Star NetSuite solution partner, we can tailor the NetSuite solution to meet the specific needs of a business. All whilst helping them to make the right strategic decisions which can re-invent their business models – enabling them to gain a competitive edge in the global market, post-Brexit.
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