As the economy continues its uncertain path, businesses across the globe are looking for new ways to drive growth while containing costs. Unfortunately, there are no easy answers. Traditional business models are getting crushed everyday by social media, cloud computing, mobile computing and above all e-commerce. We are in a new era of e-commerce. One that is no longer your grandma’s shopping cart.
For example, a traditional distributor of industrial equipment parts or solar panels now suddenly is competing with the Amazon.com Storefront. E-commerce, now more than ever, is borderless! You can start a site in Mumbai and ship placemats to Minnesota all day long at a fifth of the price of brand names and, oh by the way, those placemats are eco-friendly, support a local orphanage and every time you buy one, they give a pair of shoes to a beggar on the streets of Delhi!
Welcome to the uber e-commerce. So how do you jump in?
The answer is simple – understand that e-commerce is more than a website with a shopping cart – it is the brand experience – web to marketing to lead to quote to order to fulfillment to delivery to cash to analytics and back to web.
If your business model doesn’t support (or transform to this model) then your business will RIP. It doesn’t matter if you are big or small in size, for-profit or non-government organization, distribution, manufacturing or professional services. You have to play in this new e-commerce world where a physical storefront is merged with your online shopping experience and feeds your social media presence – driving facebook, pintrest, twitter etc.
And to deliver a good brand experience, you need to have a good experience in the e-commerce world. So what does that mean? It means an e-commerce interface that has an completely unique experience per device,( i.e. computer, tablet and phone) while being consistent with your overall brand. It means you know your customers so well from previous purchases that you are prompt them with their favorite items. It also means that you are creating loyal customers and repeat business.
NetSuite offers a fully integrated e-commerce which includes ERP, CRM and a database-driven e-commerce platform in one comprehensive business management suite. This allows businesses to run a company in the cloud while delivering an “enterprise-class” experience to your customers, no matter your size. This model offers a significant reduction in overhead costs and allows you to operate quickly, efficiently and profitably.
There are many ERP platforms that provide this 360 experience and they operate seamlessly on the cloud with high security and compliance. CEOs have to make a choice, do their due diligence and start trading in this new world otherwise become obsolete.
If you are interested in learning more about e-commerce for your organization, RSM can help. We offer consulting services in technology, risk and operations and will help get you up and running in a e-commerce environment. Contact our professional for a Rapid Assessment®. This tool is aimed at identifying opportunities to improve your business processes and the technology used to support them. Then you can concentrate on achieving your strategic business objectives.
By: Ashish Gadnis – Minnesota NetSuite Solution Provider