Transform Your Business with Enterprise Software
Manufacturers and distributors often tremble at the idea of disruption. Whether it’s a mass change in the workforce or an impending strict regulation (ahem, the GDPR), enterprises look at disruptions as threats. However, disruption can also take on a positive connotation when used to refer to companies transforming their strategies and even spurring changes in their entire industry to become business leaders.
Salesforce found that Fortune 500 companies used to take an average of 20 years to reach a billion-dollar valuation. Now, disruptive start-ups can reach that value in four years or less. This astounding statistic points to the power of thinking outside of the box to develop innovative business strategies that launch you to the top.
Cutting-edge technology is key to embracing change. In this piece, we explain how manufacturers and distributors can take advantage of ground-breaking enterprise software to master digital disruption and lead their industries.
Strategize, Strategize, Strategize
While some companies fear change, others throw caution to the wind and take advantage of all the latest, greatest trends. Don’t be mistaken; digital disruption doesn’t entail reckless changes. Abandoning your business’s effective strategies to implement every new piece of technology and industry trend is not only impossible but exposes your enterprise to tremendous risks. On this blog, we always preach to put business processes first. That means doing what’s best for your company, not installing new software for the sake of change.
Epicor has found that high-growth companies are twice as likely as low-growth companies to view strategic planning for growth as important. Furthermore, because of strategic planning, growth isn’t a panic-inducing change that takes businesses by surprise; it’s something that businesses are prepared and excited to face. Developing a plan to become a disruptive enterprise means taking a step back to analyze the current state of your business, set goals for 3-5 years into the future and determine how technology can get you to that goal.
If you aren’t taking advantage of the immense array of digital innovations, you are already behind your competition and discouraging potential investors. Look at your current processes, and figure out how you can build on your strengths and fix current weaknesses with new tools. Are there AI features on the market that can boost your sales pipeline? Which IoT functions can streamline your manufacturing floor? How can trackers and Kanban workflows make your company more sustainable? What are overlooked assets in your company that can be leveraged for growth with the help of new software?
Don’t rush to make drastic changes, but make it clear to stakeholders that you are paving the way for exciting advancements in your company. Additionally, always keep your eyes peeled on the competition; you want to get the ball rolling before a disruptive start-up takes over your industry.
Epicor also found that 69% of manufacturers are working to meet evolving customer needs to grow their enterprise. This is because we are currently in the age of the customer. Consumers have more power than ever. They expect high-quality products to arrive at their doorstep in no time and immediate responses to their queries and service issues. Meeting the demands of the customer revolution is a tall order, but businesses can keep their clients coming back for more products and services by strategically building enterprise technology into customer-centric processes.
Predictive analytics and AI technology provide insight into the future of your customer journeys and current pain points. ERP and CRM tools leverage big data and artificial intelligence to predict seasonal and demographic trends, giving you a window into your customers’ future needs. CRM features enable marketers to measure the performance of their campaigns and personalize customer journeys. Salesforce uses its Einstein suite of AI tools for further customer insight. Einstein Sentiment, for example, is a sophisticated feature that goes beyond keywords to detect the emotions and intentions of customer communications. This allows service reps to respond better to tickets and provides your entire enterprise with a higher level of understanding of your customers.
Additionally, eCommerce software fuels the fast, online experiences that customers crave. Magento continuously improves its speed to enable users to build quicker online stores. Businesses can take advantage of customizable templates, easy-to-use features and advanced analytics to create functional websites that drive sales and traffic. By strategically working enterprise software into sales cycles, businesses can grow their customer base and have them returning for responsive, personalized service.
Digital transformation is impossible if only one department is going it alone. Get the entire enterprise involved in implementing innovative strategies and technology. This way, everyone understands current inefficiencies as well as successes, spurring a unified front into a new direction for the company.
Bringing your workforce together means bringing your technology together. Integrating CRM, ERP, eCommerce and other systems into a single source of truth enables manufacturers and distributors to automate processes between departments for faster performance. Plus, software integration is the key ingredient to becoming customer-centric. Integrations provide a 360-degree view of customers, allowing for greater accuracy, expedited orders and more sophisticated demand planning. With a unified workforce and digital infrastructure, you gain a fresh view of operations and clients, welcoming more opportunities and ideas for disrupting your industry.
Rather than fear digital innovation and transformative business processes, manufacturers and distributors should embrace change to further their success. When you leverage reliable software solutions and strategize carefully, you can master digital disruption without jeopardizing your company’s integrity.
At Datix, we understand that advancing your business through technological innovation is a continuous process. An Epicor Platinum Partner, certified Salesforce and Microsoft Dynamics 365 partner and Magento eCommere expert, we serve as a one-stop shop for manufacturers and distributors at every stage of their development. Additionally, our Unity integration solution enables clients to unify their software and their workforce to prepare for future improvements.
Leverage our innovative software solutions and services to become an innovative leader in your industry. Reach out to Datix today to find out how!