Keys To Master Your B2B Digital Transformation Project
Digital is the way to go
Commerce between two businesses has long been based on human interaction. Even though it is fun and convenient to call or email your old friend in a local store. Its no longer the best process from a business perspective. When everything is manual, companies have a hard time managing processes and getting quality data for future business decisions.
By digitalising your B2B processes, you can follow and maneuver your company’s behaviour more easily and in real time. You can streamline your sales department. Get rid of manual data entry and related errors, automate your warehouse with stock level alarms, and maintain direct connections to your suppliers. Digitalising your logistics surveillance secures deliveries and speeds up your customer care and quality with better data. You can get in touch with B2B Marketing Agency in Germany
Master your B2B digital transformation project
For both purchase-to-pay and order-to-cash operations, here are five points that I find most crucial before starting any B2B digitalisation project:
1. Check your digital capabilities
First, be realistic about how prepared your business is for digitalisation. What capabilities does your company have for B2B digitalisation, both in terms of technology and staff? It is not just about updating your CRM, ERP or any legacy systems, but more about getting rid of old habits and processes.
Whereas systems can be programmed, it is the human element that needs support during change management. You’ll need to train your staff with new ways of working, thinking and interacting with customers and suppliers.
Digitalising your B2B processes means less human interaction and more working with machines across your P2P and O2C processes. This involves staff with different skill sets across multiple departments, but proper training provides tools and opportunities for company wide development. Make sure employees learn the new systems well and know how to set up rules and processes within the software. It won’t take long to see that you’ve replaced tedious tasks with more efficient methods by automating your processes.
2. Make use of existing networks
Old-fashioned, point-to-point EDIFACT services are proving too cumbersome for today’s fast-paced business environment. Alternatively, digitalisation service providers are seen as one-stop shops for outsourcing your in-house EDI services and gaining from their digitalised, user-friendly and cost-efficient services. Let specialists help you to focus on your business and adapt to the ever-changing digital world.
There are a lot of industry-specific e-commerce solutions and services for you to take advantage of. You can find a specialist in logistics, fashion or even healthcare. Use their knowledge base and experience to help your branch of the business digitalise your own processes. Service providers have already connected suppliers and customers together in a network or ecosystem that you can easily utilise.
Tapping into these existing networks, you enter a pre-established business environment that helps expand your connections and reach. You’ll find that joining an open network provides new options, like plug and play solutions that make evolving your business easier than ever.
3. Take inspiration from the consumer world
Single crusaders have an uphill struggle ahead of them. But when business partners, companies and service providers work together, the possibility of success increases tenfold. Ask your peers for references and find success stories, not only in your industry but outside of your comfort zone as well. Have a look into the world of consumers to find out what e-commerce solutions they use, and I bet those services could be turned into B2B solutions.
This has already been done by Alibaba and Amazon, who’ve adapted consumer web shops for B2B use with open APIs. Try to envision your business done in a consumer world and you might find new business opportunities with your B2B partners.
4. Learn the power of real-time data management
Data management is more important than ever. It gives you the possibility to follow every aspect of your operations more closely. We’ve previously talked about the importance of complete and accurate invoice data, how it allows you to monitor your purchases and reveals exactly what and how much you’re buying.
Within sales, for instance, you can keep track of pricing or which sales entity may be heavily and unnecessarily discounting. There are so many different areas you can improve by managing your data and acting accordingly. But first, you need to have the data in digitalised format to be able to analyse it for business improvements based on real data and results.
5. Stay prepared to change with the times
Everchanging market conditions and environments demand fast, decisive movements and actions. Your customers might be small companies that are used to modern, agile systems and demand the same level of readiness from their suppliers. There is a new breed of system providers building solutions ready for the mobile world and user. Simplicity is key in these business systems and is what will attract and retain customers (B2B and B2C).
Even customers themselves might have built their own systems from ready components and open sources found online. Make sure, in your search for the right service provider and solution, that you prepare for the demands of new partners and modern systems. Do this with easily updated front and backend processes so you can keep up as the B2B digital transformation speeds into the future.
