August 29, 2007

eBusiness Strategies

What It Takes To Capitalize On E-Business in the Global Market

Sales is at the core of any e-business strategy and since sales is the key ingredient it is important to get that strategy right. Companies should get started by stepping outside the organization and taking a good long look at the business from your customers/trading partners’ perspective.

Companies use e-business solutions so that their company can have direct interactions without compromising their internal ERP and CRM investments. Companies have also been able to optimize the e-business solutions by selling products and services via the Web self service that is integrated to the call center and sales process; speeding new product introductions; entering new markets and coordinating with all their partners.

There are several important aspects for a successful e-business strategy.

1. Make it easy for customers and partners. Do business how and when they want.

2. Provide customers with a unified buying experience across all channels.

3. Create a unique environment with guided selling and configuration capabilities.

4. Facilitate core sales processes such as leveraging up sell and cross sell opportunities.

5. Be partner inclusive making sure the strategy incorporates the business needs of key partners.

6. Get you business data in the market in the most cost effective means possible enabling your distributors, customers and trading partners access to accurate and current product information, real time pricing and availability.

7. Do not rely on one solution to meet your e-business objectives and take advantage of every method to get business information to your trading partners and customers. A web only solution does not equate to e-business success.

8. Create and provide enriched catalog product information and high resolution product images. A $60 product will sell more than a lower priced similar if there is more information available.

9. Adopt and implement EDI or equivalent file formats to make purchasing products easier and quicker. As a minimum your company should be able to send and receive a purchase order, a purchase order acknowledgement, advanced shipping notice, invoice and electronic fund transfer or payment. Any electronic documents above this set is all order management gain.

10. Whether you are a manufacturer or distributor develop an internal company data management and process plan ensuring that all your product and pricing information is current, accurate and usable by your customers and partners.

If you follow these 10 tips your customers are more satisfied because it is easy and seamless for them to do business with you resulting in increased sales, greater productivity, improved customer service and lower operating costs.

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