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Distributor's Link Magazine Fall 2019 / Vol 42 No4

THE ECONOMY No matter if

THE ECONOMY No matter if you are bullish or bearish about the years to come, it is the best time to consider improving your systems. GOOD TIMES - It is more difficult to find a consensus when looking for a year the economy was “good” and it is complicated further by arguments over what metrics should be used to define it. Streamlining your processes and easy access to information is crucial to growing your company without losing control. Without a system that can deliver both you will fail to meet customers expectations. Jim Law of Ababa Bolt bought The Business Edge in 2016 when he felt the economy was heading in the right direction. His thoughts on investing in technology in a strong economy are, “Like too many things in the past, when the business is robust, and pressure is lessened, I tend to take a breather from the more hectic days of coming off of a soft business environment, even though I now have the extra time for business improvement. Well, this time, I decided to get off my butt and do some things that were needed--one being the upgrade of our software system. We were lucky, we not only “found” (with much work) a good solution but also as important the right company--an actual partner that took us not only through the implementation but also beyond.” BAD TIMES - Even during “The Great Recession” of 2008, it was a good time to invest in an ERP system. Joe Stephens of Motor City Industrial recently shared with me his thoughts on why a down economy is a good time to buy a new computer system and how going live with The Business Edge in 2008 helped. “In the midst of a recession, business leaders must cut expenses. It’s unfortunate and difficult, but unavoidable. In the midst of the stress of a declining business, we often lose sight of how important information is. An economic downturn makes installing a new operating system unattractive, but it is usually the most critical time to do it. The business intelligence necessary to navigate an eroding revenue model make investing in more robust IT systems a critical decision. In fact, it may be the most important decision. Economic downturns are difficult, but even harder if you don’t have the information you need to make decisions. MCI made this tough decision, and it allowed us to see which customer verticals were growing and declining. This allowed us to shift our strategy toward higher growth opportunities.” Andy Bain says American Bolt Corp was not greatly affected by the recession of 2008 because of their diverse customer base. He followed that up by stating, “The Business Edge has allowed American Bolt to increase the effectiveness and efficiency of our staff. The technology has allowed us to easily scale with increased demand and requirements from our customers.”

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