Economic Recovery and Supply Chain Resilience

Topics: e-Invoicing
 

These are challenging—indeed harrowing—times. We sadly can’t undo the tragedy that has been wrought on so many, but we can look to retain the positives this has forced upon us. From having a reduced environmental impact to finding remarkable flexibility in seemingly unchangeable working practices, the pandemic has highlighted that everything clearly can be changed—and remarkably quickly.

Remote working, though problematic for business unused to the practice, has been embraced at an impressive pace. Digital business adoption the world over has increased dramatically.

Although the benefits of digital business were not previously based on helping us to cope during a pandemic, paperless business is currently very welcome. The folly of exchanging paper documents or re-keying PDFs in what has long been called ‘the digital age’ has again come under intense scrutiny. Employees are being asked to travel into offices to recover the post and then have to handle and distribute each item to isolated colleagues for processing. From electronic tenders and orders to invoices and payment processing, automation and digital services have long been available.

When everything is “normal” and busy, we tend to put off even change that could be hugely beneficial to the business. Many companies have embraced digital business but most entered the lock-down dependent on manual supply chain processes.

Supply chain resilience is critical for recovery in the construction sector, or any sector for that matter.  Whether it is enabling remote working, seeking cost efficiencies, improving supply chain communications or addressing prompt payment pressures, digital businesses are more resilient. So what can we do about this now?

There are two steps that any one of us can take straight away. 

Step 1: Immediately maximise our digital supply chain potential.

Thousands of companies are already connected to the Tradex platform so rapid progress can be made. Tradex is currently used by over 170,000 organisations to transform supply chain relationships and reduce operating costs by eliminating the inefficiencies associated with handling of paper and manual data entry.

As there are many ways by which each company can connect, the Tradex team can show you how you can use Tradex to connect with all your trading partners. One connection to Tradex provides access to everyone else.

Step 2: Prepare to expand your digital supply chain.

Now is a great time to fully enable your digital capabilities. Concerns over how to connect staff and back-office applications with digital services have delayed many business improvements. However, it  is not really as difficult as it sounds. Again, the Tradex team can help and can work with you to liaise with your IT team and application providers to agree on a way forward.

As the economy recovers, let’s work together to make sure the construction supply chain is engaged, effective, digital and resilient.

Ready to transform commercial performance across your front line?

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