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However, before we get too excited about this good news, it’s important to remember that the UK economy is at the bottom of the G20 growth league table. To put it another way, the UK’s economy is developing at the weakest rate among its worldwide counterparts.

Productivity Growth For Small Businesses

But what do these alternative, less rosy numbers signify for small and medium-sized enterprises?

In sum, they suggest that UK firms will have to fight harder to attract new business, and client retention will be more important than ever.

Businesses must, in my opinion, go beyond efficiency improvements in their manufacturing operations if they are to attain these goals and increase productivity. They could consider digitizing their sales, marketing, and customer support departments. Every client’s touch point, no matter how regular or apparently unimportant, counts in this period of weak economic development; you can’t afford to miss a single chance!

As a result, given my experience working with businesses every day to tackle this exact difficulty through the installation of CRM systems, there is a critical battle that each and every one of them must fight at some point.

Taking Charge of Your Digital Change

Now, it’s possible that picking on these sticky little gentlemen is a little unjust because they have played a meaningful part in many people’s working lives. In fact, they’re a tangible representation of many of the CRM operations that we use. However, we now perceive the stack of paper notes on the desk as a sign of the issues that digitalization must address.

In this era of digital transformation, businesses that shed the many post-it notes with to-do lists and customer phone numbers in favor of an integrated CRM system are more likely to flourish in these challenging economic times.

Businesses can centrally record all customer information and touch points by implementing an integrated CRM system — by integrated, I mean a system that is used across the organization and interacts seamlessly with other critical business applications — ensuring that no opportunity to improve service levels and increase account revenues is missed.

Any contemporary sales activity is built on the digitization of client information and the resulting unified organization-wide view of clients.

Data Management with Responsibility

It’s also worth noting that, at a time when data security and privacy are becoming increasingly prominent in the public consciousness, CRM technology may help you win your clients’ confidence by managing their data responsibly.

With GDPR (and the related hefty penalties for non-compliance) being in effect, CRM represents a valuable weapon in your GDPR compliance efforts.

Then there’s the matter of to-do lists. This is where a company may benefit from the power of CRM workflow automation. Your employees will know precisely what they need to perform each day from the minute they log on by entrusting workload and task planning to the system and pre-built customized routines.

The Value of Employee Participation

You’ll probably agree that everything sounds fantastic, but there is one caveat to keep in mind. My experience delivering business technology has shown me that a CRM deployment is much more than just buying the newest and greatest new software.

Employee involvement is the single most important factor that determines whether a CRM deployment succeeds or fails. There is practically no aspect of a company that a CRM system will not touch, and that does not require data to be sent back into the system in order to achieve properly integrated operations.

Remote Audit Tools That Ease the Process

The US Food and Drug Administration (FDA) stated in March 2020 that it will reduce international and domestic surveillance facility inspections and instead depend on, among other things, remote record review—a power provided in section 706 of the FDASIA amendments of 2012 to the FD & C Act. On July 10th, the agency indicated that domestic inspections would resume during the week of July 20th, based on a risk assessment.

Best Practices for Remote Auditing and a Checklist for Regulatory Compliance

The abrupt workforce upheaval is challenging — and frequently blocking — in-person quality audits done by competent third parties for quality and compliance teams. Firms are increasingly turning to remote or “virtual” audits to sustain their assurance efforts until regular operations can resume, in order to prevent compounding delays caused by canceled or postponed audits.

Throughout each phase of the assessment process: planning, document review, process review, facility review, interviews, and closing meetings, we identify the problems of remote auditing and propose methods and best practices for overcoming them.

The contents of this book should not be regarded as exhaustive or conclusive because the pandemic is a continually evolving scenario. As the situation changes in the coming weeks or months, we plan to add to these issues.

GMP Auditing and COVID-19: A Guide to Remote Auditing and Workforce Recovery is an excerpt from our white paper. By downloading it here, you get all of this material and more in a convenient PDF that you can use as a playbook for preparing and hosting remote audits.

A Brief Introduction to GMP Compliance through Remote Auditing

When traditional in-person audits aren’t possible, remote audits allow quality and compliance teams to continue providing continuous assurance activities without affecting important operating areas.

GMP laws currently do not clearly ban remote auditing, nor do they provide precise guidelines or expectations for proper practice. Without formal guidelines, businesses must decide if a remote audit is acceptable and feasible based on a risk assessment that takes into account the nature of their products and services, their technical capabilities, and criteria like compliance histories and quality trends. A company that hasn’t rectified concerns identified during earlier audits that necessitated an on-site visit may not be acceptable.

“If concerns were discovered during a recent on-site audit—for example, facility issues—and they required on-site follow-up, the eligibility for a remote audit may be impacted. It’s crucial to go over that checklist to ensure you’re not doing the assessment any harm by going remote. “

Neal Siegel is a Certified Auditor and Quality/Regulatory Consultant: This risk assessment should also include the QMS’ preparation for such an evaluation, since policy or procedural hurdles may need to be identified and resolved. SOPs, in particular auditing standards may, for example, be established to presume in-person auditing, potentially complicating or prohibiting some actions, such as document access, for a remote auditor.

To guarantee that on-site audits can resume in a timely manner, all organizations should complete an initial risk assessment and document the outcomes obtained by remote auditing, including plans that will go into practice once existing restrictions are eliminated.

Planning with Stakeholders

Remote audits, like traditional in-person audits, must be prepared and scoped. However, because making a simultaneous change in a remote environment is more difficult than in person, and because each audit action may require more time owing to technical limitations, a remote audit should be properly choreographed in as much detail as feasible from the outset.

Mergers & Acquisitions in the New Era: How to Succeed

The destiny of this combination, on the other hand, remains to be seen. But, have you ever considered why certain mergers succeed while others fail? The rationale is straightforward. Those mergers that occurred for the right reasons have survived, whereas those that occurred for the wrong reasons or were poorly implemented have failed.

What Is the Key to Successful Mergers and Acquisitions?

Like most things in life, there is no magic recipe for successful mergers. The core of a successful merger is encapsulated by a well-crafted plan, an adept management team, and a keen eye for detail. While strategy is vital in most mergers, cultural compatibility is the lifeblood of the newly combined entity.

  • Every year, a large number of mergers and acquisitions take place. According to the IIMA institute, in 2015, the M&A landscape saw over 45,000 deals. These are estimated to be worth $4.5 trillion or more.
  • The $77.8 billion acquisition of Time Warner Cable Inc. by Charter Communications Inc. in May 2015 was the biggest U.S.-based M&A deal of the year, followed by the $65.5 billion Dell-EMC merger.

The majority of these mergers are well publicized, but some are kept under wraps. But that isn’t the most essential thing. What matters is how many of them survive the test of time and how many are just remembered as a recollection. Before we go any further, let us first try to understand why mergers occur in the first place. Why do two self-contained entities join forces to form a new partnership when they can get along well on their own? It sounds like a marriage proposal. Yes, of course.

Mergers, like marriages, have a lot riding on them. At the end of the day, it’s a make-or-break issue! One blunder may result in trillions of dollars in losses, and who wants that?

What Are the Benefits of Mergers and Acquisitions?

Any merger has as its primary purpose the creation or improvement of value. These are corporate mergers and acquisitions, and the motivations are based on financial factors. Let’s take a look at some of the reasons why companies combine.

Capacity augmentation: Capacity augmentation through combined forces is one of the most prevalent reasons for a merger. Typically, firms want to leverage such a move in order to save money on expensive production activities. Capacity, on the other hand, may not just refer to industrial processes; it might also refer to purchasing a unique technological platform rather than having to construct it from scratch. Mergers in the pharmaceutical and car industries are frequently driven by capacity expansion.

Developing a competitive advantage

Let’s be honest. These days, competition is fierce. Companies will not be able to endure this tsunami of innovation unless they have proper plans in place. As a result, many businesses choose to merge in order to expand their footprints in new markets where the partnering firm already has a strong presence. In other cases, a compelling brand portfolio entices enterprises to merge.

Getting through difficult situations

Let’s rephrase the adage: “Tough times don’t last, but tough companies do.” The global economy is going through a period of uncertainty, and in difficult times, unified strength is always stronger.