3 Things Modern Commerce Needs To Get Ahead - And Stay Ahead.

3 Things Modern Commerce Needs To Get Ahead – And Stay Ahead.

In Master Data Management by Patrick GibbonsLeave a Comment

You already know that today’s consumers are more savvy than ever. They’re also increasingly tech-savvy and mobile—shopping, comparing, buying, and sharing their experiences and reviews with other customers wherever they go.

It’s already tough to keep up with their changing preferences and habits. It’s even tougher when the information you need to make sense of it all lives in a disconnected mess of spreadsheets, applications, and analytics tools that live across your entire organization. The result? Your customers are always one step ahead of you—which means you’re leaving sales on the table.

Here are three ways a unified commerce system can help you keep pace:

1. One source of truth

Focus on metrics that matter most, when they matter most.

A lack of information—or smart people to manage it—has never been your problem. You need a single, customizable platform to manage your entire business and align your organization—its people, processes, and data—around the metrics that matter most. Your business benefits from a true source of real-time data, so you can quickly identify and respond to trends, problems, and opportunities—and focus on the metrics that matter most, when they matter most.

2. Better-informed, proactive insights

You’ve got the data. The insights you need are there, too.

You’ve got the data. The insights you need are there, too. The problem is, without a way to see your data in context, you’re only seeing one side of the story. A unified platform that brings data from multiple channels and platforms together in one place, so you’re never waiting on reports to get the real-time insights you need to optimize business performance.

3. Faster, smarter decision-making

From procurement to order fulfillment, you need to know what’s happening, right as it’s happening.

Let’s say you notice your sales for a certain product have dipped. It’s usually a big seller for you, so you need to quickly dive into the details in order to keep your sales on pace. You know the answer to the problem lies in your data, but it might take your team weeks to build the reports, set up meetings, share insights, and arrive at the insights you need. By then, your opportunity to pivot and adjust course has passed.

But with a unified commerce system, you quickly notice that unusually warm weather shifted consumers typical buying patterns from cold weather equipment to warm weather clothing, which directly correlated to the dip in sales. Armed with this real-time insight, your team is able to quickly adjust inventory in time for it to make a difference. That’s decision-supporting control panel for your entire business.

Today’s commerce businesses require a unified platform that understands an omnichannel retail sales model. From procurement to order fulfillment, you need to know what’s happening, right as it’s happening.

HotWax helps you bring together dozens of channels, hundreds of suppliers, and thousands of orders a day into a single platform to unify and ignite your entire business. Let’s talk about what it can do for your business.

Are your revenue targets misaligned with operational efficiency? Get a free digital commerce technology audit to find out why

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