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As part of Solutions Review\u2019s\u00a0Contributed Content Series<\/a>\u2014a collection of articles written by industry thought leaders in maturing software categories\u2014<\/span><\/span>John Case, the <\/span>C<\/span>hief <\/span>E<\/span>xecutive <\/span>O<\/span>fficer <\/span>of<\/span> <\/span>Acumatica<\/span><\/span><\/a>, shares his insights on how intelligent software solutions can help businesses navigate new and emerging industry pressures.<\/strong><\/em><\/p>\n According to\u202f<\/span>CBS News<\/span><\/a>, “80% of small-business owners say their business’s financial health has suffered due to inflation over the past six months.” In an age where inflation hit a\u202f<\/span>41-year high<\/span><\/a>, the economy could remain stagnant or head into a recession for an extended period.<\/span>\u00a0<\/span>The threat of inflation adds another layer of complexity to the ongoing supply chain challenges that have burdened numerous industries.<\/span><\/p>\n Due to global supply chain disruptions, several raw materials and components have been in short stock.<\/span>\u00a0<\/span>Additionally, over 90 percent of small business owners say broader economic factors like inflation, supply chain issues, and staffing shortages are hurting their business.<\/span> These<\/span> disruptions will require companies to continue to adopt new strategies, processes, and technology to overcome such problems.<\/span>\u00a0<\/span><\/p>\n When inflation is high, businesses can protect their bottom line by relying on technology to increase efficiency and reduce redundancy by accomplishing more with fewer resources. Intelligent software systems are examples of such technology, as they can manage many business functions, including customer relationships, inventory, distribution, accounting, payroll, and sales.<\/span>\u00a0<\/span><\/p>\n Businesses can utilize software to manage various business functions and help mitigate the impacts of inflation.<\/span> Some of the most significant ways intelligent software solutions can help global enterprises are explained below.<\/span><\/p>\n Businesses of all sizes and industries can use a comprehensive enterprise management solution to integrate their disparate applications into one platform. By combining data from all departments (e.g., sales<\/a><\/strong>, accounting<\/a><\/strong>, finance<\/a><\/strong>, manufacturing<\/a><\/strong>, and supply chain<\/a><\/strong>), these centralized solutions empower decision-makers to view critical information comprehensively. Companies can analyze data frequently and implement targeted price adjustments based on the insight they gain from customers and products. As a result, they can anticipate and address inflationary burdens and increase their chances of success.<\/span>\u00a0<\/span><\/p>\n With intelligent software, businesses can manage orders and inventory allocations across channels in real-time. This ability can simplify tracking returns and exchanges by ensuring items are returned in the appropriate condition and that buyers are reimbursed. Decision-makers can assess inventory levels across locations using stock reservations and tools for managing back orders and credits. Businesses can also avoid surprises with precise tracking of costs, identify low-cost vendors, minimize freight charges, and reduce write-offs for expired or obsolete inventory.<\/span>\u00a0<\/span><\/p>\nHow Intelligent Software Can Help<\/span><\/b>\u00a0<\/span><\/h3>\n
Integrated Data for Decision Making<\/i>\u00a0<\/strong><\/h4>\n
Order and Inventory Management\u00a0<\/strong><\/em><\/h4>\n
Process Automation\u00a0<\/strong><\/em><\/h4>\n
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