Increase Turnover and Sales in the New Normal
In these unprecedented times, digitization has proved to be a game changer for B2B businesses. This is because consumers are now reluctant to mingle in crowded public places. More than half of industrial transactions are now done online. This seismic shift requires a massive change of mindset, and inevitably, a reallocation of the sales, general and administration cost budget—away from traditional structures that rely heavily on a physical field force, towards increased online tools and presence.
Challenge for B2B Companies
New digital players are entering the market and putting traditional B2B companies under increasing pressure with new offers and unconventional business models. Increasing competition leads to a greater variety and complexity of products while at the same time shortening product life cycles. The demands on speed, flexibility and transparency of companies and their supply chains are increasing. B2B companies whose sales activities are not geared to this fast pace are coming under increasing pressure.
Most B2B companies invest only a small portion of their marketing and sales budgets in digital channels. They increase their internal cost and process efficiency by digitizing back-office workflows and resource planning as well as modernizing existing IT architectures. However, the greatest potential lies in the digitization of sales.
Surge in E-commerce Spending
E-commerce firms, especially in the consumer durables space are seeing a huge uptick in both volume and value of orders. Moreover, e-commerce majors have reported that hoarding activity is on the rise and they are taking steps to ensure that it is curbed.
Change in the Retail Scene
Meanwhile, the retail scene is also changing in terms of how consumers shop and the way the retail industry operates. As a result, retailers will have to inevitably adjust to the new norms of online buying. However, different store formats can become a differentiator for brands competing in similar categories.
Retailers need to harness the power of technology, intelligence and data science to streamline and automate operations. Here is where we at Hashbrown Systems, step in. With a decade-long experience in building enterprise applications across industries including financial services, media, retail and consumer goods, we help small and medium enterprises reimagine their businesses by conceiving and designing intelligent solutions powered by the latest technologies. Choose us as your IT partner so that you and your customers get a seamless digital experience!