The Importance of Keeping Your Back Office Tidy and Moving Your Business to the Cloud

Posted by Deltek on July 21, 2021

Tidy Back Office Systems and Moving to the Cloud

Fluid. “Likely able to change”, as defined in Merriam-Webster’s Dictionary. Did you ever imagine a time where the market shifting at such a fast rate? Employees are on the go, working from their homes one day, and the beach the next. Security requirements continue to evolve at a rapid pace. Talent seems to quickly come and go. This fluidity makes it critical for small businesses to remain agile and be prepared for anything that might be around the corner.

Federal spending is experiencing record highs, American Rescue Plan is expected to drive major spending to increase cybersecurity, mergers and acquisitions activity is ramping up and Small Business Prioritization has picked up momentum based on the Biden Administration’s stated goals. So many moving parts that impact small businesses, evolving by the hour. Stability and agility is critical to navigating this uncertain environment. The whirlwind that was 2020 taught the majority of employers that it’s possible to execute many jobs away from the office, allowing for a better work life balance. In this year’s Deltek Clarity Government Contracting Industry Study, managing a distributed workforce was listed by more than a third of surveyed firms as one of the top three challenges for Human Capital Management leaders. With more mobile and global teams now than ever, it’s critical for smaller government contractors to prepare for the unexpected by having reliable systems in place, so you can easily pivot, as many were forced to do during the COVID-19 pandemic.

Gartner’s Post pandemic Planning Framework revealed what Marco Lansiti and Greg Richards observed in Coronavirus Is Widening the Corporate Digital Divide, “This need to virtualize work due to COVID-19 is driving digital transformation and deepening differences across people and across firms at an incredible rate. In a period of days, almost any process that could be rapidly digitized has been virtualized – think of video conferencing enabling a case discussion and telemedicine enabling remote diagnosis and treatment. We are seeing the digitization of many ancient bastions of traditional business; the New York Stock Exchange just closed its trading floor and has moved to electronic trading.” It’s no question that the unexpected pandemic accelerated digital transformation and forced across all industries, regardless of company size.

Adopting digitization by having reliable systems in place, particularly as a small business, will pay off in the long run by helping you better prepared for unexpected times, like a global pandemic. Small business government contractor, Adaptic, LLC, quickly saw this benefit once they decided to partner with Deltek and move their operations to the Cloud.

Investing and implementing in a trusted cloud solution before a turbulent situation occurs, will ensure a business continues to operate efficiently, keeping your back office tidy, while fostering collaboration and productivity across teams despite being in the office or across the country.

Security, Compliance and CMMC

As teams become more mobile and global, industry’s security and compliance regulations continue to evolve. Security risks and cybercrimes are becoming more prevalent, from data breaches, to simple network vulnerabilities and ransomware, all have the potential to allow unwarranted network access and attacks. It’s critical that your systems and data are secure whether you’re in the office or on the go – monitoring patching, backups and replication cannot be ignored in today’s digital world.

As industry becomes stricter, smaller businesses can’t fly under the radar - regulations are no longer just for large organizations. The project and client landscape continues to shift and compliance costs associated with Cybersecurity Maturity Model Certification CMMC and data security are top of mind for many, especially as supply chain risk management is under such scrutiny and diversification being a go forward objective for contractors servicing the public sector. We live in a world, where if you don’t meet industry standards and regulations there could be monumental security risks to your business and possible financial impacts. This year’s Clarity study revealed that a majority of government firms have experienced the same level of cybersecurity threat as the previous year, with nearly a quarter indicating incidents have increased.

As the market continues to shift, small businesses need to have the proper systems in place to grow and scale, embracing digital transformation to remain competitive in the market. If you want to diversify your portfolio and be eligible to go after new types of contracts or increase your headcount and profitability, a homegrown solution won’t cut it. The 2021 Clarity Study unveiled that the margin of profitability for small business government contractors decreased by 32% year over year. Diversification into new customers (agencies) and new markets were listed by financial leaders as the top two focus areas to increase profitability, as noted in the Clarity Government Contracting Industry Study. Investing in an all-in-one enterprise resource planning (ERP) cloud solution, like Deltek Costpoint, can help keep your business on the right track, supporting your growth objectives while helping you prepare for the unexpected, like a global pandemic.

Is your firm struggling with meeting industry’s security or compliance requirements? Checkout this white paper to learn more about migrating to a cloud solution.