Working together of two or more to produce a greater effect than the sum of their individual efforts.
Currently there is too much wasteful back and forth amongst trade partners. Moreover, over 80% of workflows involve handoffs within or between businesses. High risk of scenarios with distortion where the core data is lost in translation; followed by distasteful blame game and denial to shirk responsibility. Net result, diluted accountability. Even worse, goal not achieved and customer dissatisfied.
The sooner the better - specially in the era of instant gratification.
Digital highways have redefined the speed limits: Go slow and get left-behind or get run-over. Response time is one of the top-ranked customer frustrations. Everything seems like a buzzer round. Response time and speed of business are still laggards in this hyper-connected world.
Seeing is believing. Becoming fact-based enables better decisions faster and it strengthens controls, compliance and risk management.
Silos break data trails. Lack of end-to-end visibility causes repeat efforts in reconciliation and reprocessing of cumbersome data. It is common to find delayed, incomplete and inaccurate capture and reporting. Worse, meta-info not even captured.
Ease of Doing Business
Whatever you do is worth doing well - repeat business and loyalty now depends on the new marketing battlefront of CX.
It is critical to make every interface count. Customer' impatience and intolerance presents an everything or nothing scenario. Spoilt by options, customers want more and now. With diluted product and price differentiation, now the competition is on experience, speed and responsiveness. Attention deficit in the sales force is rising as they are wasting precious selling time on followups to arrange orders and supply. Customers now expect on-demand anytime anywhere simple, easy and convenient ways of doing business.