ERP Project Recovery

As the COVID-19 pandemic created operation disruption across a multiple number of enterprises, businesses should not underestimate enterprise resource planning (ERP) implementation processes, even if the current system meets your present needs finely, there may be underlying costs, technical difficulties, and resistance that may be hidden. Some organizations are reluctant to continue with costly and complex ERP implementations when the future is very unclear, yet it is imperative to reevaluate which systems and processes are working out.

While you might be eager to uncover the benefits an ERP system will bring to your business, according to trends we see here at Executive Option, buying and implementing an ERP system is one of the most complex projects a business can take on. The main purposes of purchasing an ERP to either replace outdated systems, consolidate disparate applications, or to update to newest and latest technologies in the market. On average, at least 30% of ERP implementations take longer than estimated by companies.

One of the challenging aspects of integrating an ERP system into your operations is managing the changes and expectations that are associated with the process. It is imperative to budget for success, and not just to save money. Numerous amounts of companies try to minimize their budgeting for costs leading into an unpredictable outcome. Regardless of the deployment method, most implementations cost three to four times more than what was budgeted.

How Executive Option Can Help

We understand project may not always go as planned. In fact, nearly 75% of ERP project’s fail. ERP implementation requires complex monitoring and close review when executing. For this reason, we offer solutions from experience in multiple areas of industries for your company to align with the goals you have set to integrate the needed system for your unique business. We will help you evaluate your current ERP system and provide accurate functionality to ensure a return on investment.

What Changes to Expect

Businesses all around the world have been impacted by the COVID-19 pandemic. After slowing down – or even shutting down [for some], they have had to quickly implement new procedures to keep their business up and running. Now that lockdowns have been lifted, we are adjusting to a “new norm.” This means a number of things for different businesses, especially those with high traffic like casinos.

This week, casinos, movie theaters, gyms, bowling alleys, pools and more dine-in restaurants are expecting to reopen. Visitors can expect a new set of guidelines for a number of the casinos. One of them being temperature checks.

In addition, social distancing will still be enforced. Casinos will be reducing the number of slot machines to assure a distance of six feet between guests.

Another action planned to be taken by Casino companies such as the Wynn Resorts, MGM Grand, and Caesars Palace will be the availability of masks for visitors. Visitors will be encouraged to wear protection while employees will be required to wear them.

Floor procedures will not be the only element facing changes. Financial, compliance, and customer management all have been impacted and ramping back up from the impact of shutting down will require close monitoring of these new changes. Due to the influx of money and customers that flow in and out of Casinos at a frequent basis, companies from the gaming industry must have efficient and secure systems installed to accurately record all necessary data and information.

How Executive Option Can Help

To adhere to the financial, compliance, and customer management needs of the gaming industry, Executive Option will work with your company’s complex operational needs by transforming your current technological systems to provide your company with real-time data insights, streamlined revenue audit process, procurement tracking, and accounting management. In addition, Executive Option’s experts can provide you with the resources you need for multi-property enterprise deployments.

Increased Danger of Cyber Risks During COVID-19

During these times of uncertainty, the response to the coronavirus has transitioned organizations and people into the digital domain. As the use of online conference calls, collaborative platforms, digital tools, and business sites are steadily increasing due to remote work, these activities create stress on cybersecurity operations for businesses.

As the COVID-19 pandemic is an unprecedented event. The sudden nature and wide-ranging impact of this crisis has resulted in a dramatic increase of cybersecurity risks. Something to be aware of is that cybercriminals are using the pandemic as an opportunity to coordinate cyberattacks through various means to gain entry into networks. For example, cybercriminals can use coronavirus fears as exploitation to phish users. The World Health Organization (WHO) has reported that there have been more than 4,000 coronavirus related domains being registered at the beginning of the year with three percent being identified as malicious. It is important to remain attentive, so do not wait until an incident occurs.

Here are some examples of cyberattacks to look out for:

COVID-19 Scam Flyers

Due to the pandemic, cybercriminals now have better angles to take advantage of people around the world. These scams may range from fake charities, nonlegitimate organizations, romance calls, and etc. We recommend taking extra precaution when viewing unsolicited emails.

Fake Stimulus Check Emails

Beware of phishing emails asking you to verify any source of personal information for a certain cause. Criminal actors are now contacting victims through new forms of means by creating fake credibility.

In order to stay safe and prevent cyberattacks, here are some cybersecurity recommendations:

Adopt a passphrase instead of a password

  • Password: bACat01
  • Passphrase: bringAwarnesstoCyberattackstoday2020

Keep Work Data on Work Devices

Using a personal and work account on the same device puts each party at risk for cyber-attacks. It is imperative to acknowledge and follow these practices to ensure cyber safety if you are currently using one device:

  • Update and patch all your devices, operating systems, and web browsers
  • Use Anti-Malware Software or Firewall
  • Avoid Public Wi-Fi
  • Frequently backup your work 

Do not insert foreign USB drives into your personal devices or company computer

This is a common breach in confidential data loss or could lead to damage across systems and networks. If a foreign USB is inserted, attackers may use that opportunity to infect computers with the malware that the drive is infected with.

Use VPN software

This ensures that your data is being processed through a private network safe and it ensures more difficulty for cybercriminals to hack into. The VPN concept encrypts your online connections, protecting your data from hackers.

As more businesses are switching and remaining to a remote working state, the consequences of cyberattacks is becoming more prevalent. Executive Option’s experts stay ahead of the curve in assisting businesses from various sources of industries to protect them from cyber breaches. In order to prepare your company with countermeasures, it is vital to us to create a confidential, secure, and enduring cyber defense for your business. As the outbreak progresses and alters the functioning of our socioeconomic systems, cybercriminals will continue their efforts to exploit digital vulnerabilities, crucial information and data. Do not let this pandemic open a window into your network, and it is time to remain vigilant to ensure security and protection for your company.