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Top 5 Ways Midsize Companies Can Survive and Thrive in Lean Times
During an economic downturn, midsize companies face pressures that can make them defensive and reactive. But, in fact, they possess a range of options for positive action to help them not just survive but thrive—both now and when the economy rebounds.
The trick is to find solutions that deliver results quickly while protecting precious cash reserves. Here are five ways to move forward now.
1. Minimize Upfront Costs
With credit markets tightening, midsize companies must carefully manage cash flow and avoid big up-front costs. Oracle offers two strategies for minimizing up-front costs of IT projects.
For companies that want to host and/or manage their own solutions, Oracle Financing can help improve cash flow by reducing up-front investment and spreading payments over time.
Midsize companies can also opt for Oracle On Demand, which provides hosted and/or subscription software, eliminating start-up costs and reducing your IT budget to a predictable monthly fee.
2. Ensure Rapid Implementation
As margins tighten, pressure to achieve rapid ROI increases. This makes fast installation and deployment a critical success factor. Oracle offers midsize companies multiple solutions to this challenge.
Oracle Accelerate combines affordable product and industry bundles, rapid implementation tools, and an extensive network of partners with regional, industry, and industry segment expertise to dramatically speed implementation time.
Oracle On Demand provides similarly dramatic implementation efficiencies, with Oracle hosting and managing its own solutions.
And Oracle Business Accelerators bring proven, best-in-class business flows to reduce the time and costs of implementing enterprisewide solutions.
3. Build Systems and Processes That Optimize Customer Care—and Exploit Every New Sales Opportunity
During economic downturns, businesses typically funnel a greater percentage of their resources into new sales as well as customer retention. And, of course, those companies that have the right systems and processes in place will maximize the value of this key investment.
With Oracle solutions, midsize companies can replace disparate systems with a single customer data repository. This in turn enables you to coordinate customer-facing business processes, business rules, and decision-support activities. The result: increased revenue, enhanced retention, and lower operational costs.
4. Grow Module by Module
In lean times, businesses may choose to invest only in those solutions that can deliver value as quickly as possible. However, they also want to avoid the risk of having to rip and replace watered-down or piecemeal solutions in the future.
Oracle solutions actually provide the best of both worlds—complete, end-to-end, integrated solutions that can also be implemented module by module.
5. Look Beyond the Downturn and Plan for Growth
While businesses must deal proactively with the downturn, they also have to take active steps to prepare for the eventual upturn. That means constructing solutions that are scalable—and easily integrated with legacy and third-party technology.
Oracle's solutions for midsize companies are built on open standards and enable rapid integration with existing applications and hardware investments.
Learn more.
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