Special Report:
Uncertain Times
August 2009
While many companies are still focused on cutting costs, smart business leaders are also looking at ways to move ahead when the economy starts to turn around. And that means making IT investments that reduce overhead, improve efficiency and increase market share. At a recent CFO forum, Sonny Singh, senior vice president of Oracle’s Industries Business Unit, said companies need to make sure they are not so focused on short term gain that they forget about long term vision.
“Here at Oracle, we believe that a better strategy to achieve long-term cost savings is to focus on reducing costs of goods and services sold by improving supply chain efficiencies and reducing operational complexity,” says Singh. “Manufacturers, for example, should think about identifying and prioritizing supply chain technology initiatives that can drive quick ROI and have an immediate impact on profitability, cash flow, and risk but can also help companies sustain gross margin expansion over the long term.”
In this updated special report, read about the strategies experts say will put your company in the right position to succeed when the economy begins turning around.
Getting Ready for the Recovery
During times of economic uncertainty, companies tend to focus on cutting large variable costs that can have an immediate impact, such as IT spending, travel, and administrative staff. Research by the Corporate Executive Board, a leading provider of corporate best practices and analysis, shows that nearly 90 percent of companies fail to sustain these types of across-the-board cost reduction efforts for more than a couple of years at best. Cutting general and administrative expenses across the board also can impair a company’s ability to survive a downturn, especially one that is as long-lasting as the current recession.
Five Ways to Strengthen Your Competitive Position
Building on its work with leading management consultants and some of the world’s best-managed companies, Oracle has identified five high-impact strategies that companies can pursue to strengthen their competitive position today and get ready for the recovery.
Aggressive ERP Strategies Pay Off in Tough Economic Times
In a new report titled Measuring the ROI of ERP in SMB: Keeping ERP Projects Alive When You Need Them the Most, Aberdeen Group lays out a road map to help midsize businesses achieve greater cost savings and operational improvements—and maximize ROI during tough economic times.
Four Quick Wins to Prepare for the Upturn Now
Advice for manufacturers about cutting supply chain management costs with a minimum of upfront investments in new technologies.
Five Lessons for IT Leadership
“An economic downturn forces you to prioritize and focus on what’s really critical,” explains Cliff Godwin, senior vice president of Applications Development at Oracle. “It also offers opportunities for businesses whose competitive landscape is changing. The IT organization can provide the data that will help companies understand what’s happening and react swiftly to better serve customers and improve margins.”
Five Ideas: Uncertain Times
Business experts tell you how to handle the current economy by saving money and reaching untapped markets.
