Why? - The Upside (Opportunities)
Businesses operate and compete as chains and networks (not as companies)
Business is not a solo sport - fates of businesses are increasingly interlinked
Hyper-connected businesses outdo less-connected rivals
Rapid response, seamless efficiency, end-to-end visibility and on-the-go adaptability are the new competitive advantage
Connectivity expands possibilities
It simplifies experiences, boosts agility, combines clean-data and sparks opportunities to accelerate growth
5 More Advantages
Why? - The Flipside (Threats)
Traditional trade formats are outdated - slow, unresponsive, uncoordinated and opaque. Almost all B2B trade partners recognize the need to change, but are struggling to shift to more modern online methods of trade. Manual interfaces of order processing via phone calls, emails, fax, courier, spreadsheets etc. are clearly inefficient, cumbersome, error-prone and expensive. The process compounds rising complexities in the buy-sell processes. Employees on either side of the trade waste time chasing, matching and reconciling data instead of investing time to more strategic and value-add tasks.
Traditional trade formats are outdated
They are slow, unresponsive, uncoordinated and opaque. Inherently inefficient manual processes with duplicative back-n-forth in inter-party interfaces. Opaque and expensive silos slowdown business and breakdown scale. Poor customer responsiveness - lacks coordination and convenience. Unavoidable rework, duplication and non-value-add tasks.
Customer expectations have changed
Experience is the new age mandate and also the competitive differentiator (with already diluted product and price differentiation). The Amazon Effect has rubbed-off from B2C to B2B. Ease and convenience with on-demand content, live status and the works.
Cannot undermine business agility in the era of instant gratification
Spoilt by options, customers want more and now. With rising customer intolerance and impatience, alongside diluted product and price differentiation, competition is now about speed and responsiveness.
Only 11% active selling time
Too much administration and non-value-added work done by the salesforce. Opportunity to gain sales productivity - double or even triple. Critical to fix the attention deficit in sales as they struggle to chase status updates and to arrange for timely order processing.
Increasingly critical to orchestrate MSME trade partners
Both on the sell-side and buy-side - i.e. distributors and vendors. Diversity and decentralization is integral to market reach - and to deliver upon the evolving customer expectations. Deeper alignment also needed for increasing regulatory/ compliance requirements, market threats, product safety considerations, channel data and market intelligence.
Rising risks, costs & complexities
More to manage from manpower inflation to regulatory requirements. Talent is becoming scarce and expensive. Increasing need for reporting, visibility and traceability. Manual work is increasingly expensive and error-rpone. Back and forth of manual interfaces across standalong ERP/IT systems with high duplication and inefficient handoffs are a cause for adverse event.
Brand responsibility is paramount (so is the reputation)
Brand has to own-up for the entire chain - across the channel. Customers expect directly from the brand - irrespective of who they deal with in the chain. With rising customer intolerance and impatience, brands are consciously shaping and monitoring performance across the end-to-end chain.
Leverage channel data for complete business intelligence
Need clean channel data real-time. Real-time fresh data instead of stale reported data.