Managing risks to your business
Risk means to tide over an imminent threat while taking chances on a potential damage. Businesses are always surrounded by one or the other risks, and COVID-19 has posed a dire threat to the entire world’s economy.
Proper planning of operations and meticulous deployment of resources can help businesses counter any possible risk. Digital transformation of your business enabled by CRM on cloud can go a long way in making your operational model sturdy and robust. We take a look at 5 different ways in which you can manage various risks that your business might possibly face.
- Go remote and virtual: Given the risks posed by the pandemic and the resulting socio-economic upheaval, organizations would do well to go remote to begin with. Remote work becomes the mantra of the day, as employees and customers scout to keep themselves safe from the virus. Even otherwise, for those who have to be physically present for mandatory business operations, social distancing plays a key role in mitigating health risk to all involved. Salesforce.com as a premier cloud-based CRM allows organizations to go virtual through the sheer power of its digital enterprise. It minimizes business risk by allowing all possible processes to go completely online, and the same can be accessed and worked upon by all authorized personnel from anywhere.
- Embrace digital transformation and adoption: To implement CRM on cloud is one thing and to urge your employees and customers to use it in a sacrosanct manner is entirely another. Your CRM consultant plays a key role here as it encourages, trains and supports all your employees in to leveraging cloud to minimize any imminent business risk, be it health-related or otherwise. Yes, you as a business leader need to take right calls on the choice of CRM you make and the consulting partner you agree to work with. These choices become important as they are long-term investments, and once implemented, taking a U-turn never remains a good idea. Therefore, exercise caution and prudence before you proceed and be sure of what your exact business requirements are.
- Anticipate risks and plan a prior: When you embrace quality, innovation and fool-proofing in everything you do, you promote a healthier and happier workplace. Of course, your workplace is better off remote, virtual and scattered, however, best practices can indeed be inculcated in your existing scheme of things irrespective of your method and manner of operations. Doing so would allow you to anticipate potential business risks and also buy you time to plan and tackle them in a more effective manner. Salesforce.com allows you to bring all that you plan regarding your processes and people on a common, unified platform. Even at an industry level, embracing best practices is more likely to fetch you a leadership position. All the external threats and internal weaknesses (as suggested by your business SWOT) would be taken care of, as you find time to plan and fend off risks, as also focus on things that really matter for your business.
- Seek business consulting: An external perspective on your business can apprise you of aspects that you internal teams would fail to see. Be it technology, operations, resources or people, your consulting partner can help you make your business stabler and more secure. Your consultant would review your existing scheme of things, diagnose areas needing attention or improvement and suggest a way out. Whether it is the selection of the right cloud offering for your business or the right time and manner of its implementation, your consultant covers it all for you. Your risks stand mitigated as a result, and your business can embrace continuity and growth over the long term.
- Assess your position periodically: A one-time elimination of risk doesn’t mean that your business is secured from it forever. You ought to frame a risk management timeline that lasts much beyond the span of this pandemic and execute it in a sacrosanct manner. You’d need to monitor and review your operations from risk perspective from time to time, and assess interventions and counter-measures against the same. And when all your business data and information is stored in a single repository (Salesforce) on a real-time basis and flows to the right people at the right time, things could seldom go wrong for you. Moving a step ahead, your data too would play a key role in giving you risk insights and also trends on how those risks are being managed in real time.
All in all, a multi-pronged strategy works best for business to mitigate its recurring risks. Salesforce.com is a premier customer relationship management platform that has stood the test of time and leads the CRM-on-cloud market in enabling its customers serve their customers better, as also managing imminent business risks.
ABSYZ is a certified Salesforce partner that has been playing multiple roles to help businesses manage their customers, employees, processes, product, competition and risks. Whether as a consulting partner or as a CRM implementation and support catalyst, we have been successful in making our client businesses smarter, healthier and happier.
To know more about how ABSYZ empowers businesses to balance operational management with need to mitigate inherent risks, contact us.