When you first get into business, you might assume growth means the process by which you sell more products, make more money, and then expand your business to a bigger space.
Growth is very rarely something given; rather it is the result of technology paired with strategy. For a wholesale distribution company, growth means doing something that separates you from fierce competition in your niche.
You can’t expect growth to come your way; it is a process that you need the right tools to cultivate: it can be engineered. With systems in place that will let you scale your business without seeing your costs balloon out of proportion, technology that will boost productivity and streamline your workflow whilst simultaneously gathering data.
Beyond all that, the ability to plan strategically make your decisions tomorrow better than the ones you made yesterday.
Cultivating and maintaining a strategy might seem to be routine, and a prerequisite to action. According to a study carried out by Morar Consulting and Epicor, fewer than 4 of every 10 distributors believes that mapping out strategies is critical to their long-term success, which is an alarming statistic.
For many, the problem is having a system in place to organize and process data to gather actionable insights. When your employees are constantly trying to file yesterday’s transactions whilst shipping out today’s orders. There isn’t any time left to actualize insights, and tomorrow’s success is invariably under prioritized.
In that case, the problem is not so much what decision you make, but how you go about making it. What does your decision-making process look like, is your business more reactive than proactive? Are you making plans based on what your competition is doing, or is there a process of gathering data, evaluating it and making well-informed decisions as a result? Without leveraging data-driven insights, how can you empower your employees or motivate investors effectively?
When you invest in Kloudville’s Business 360 for wholesale distributors, you get our analytics application built into your operation, along with a suite of other applications. Not only can you view insight reports and customized dashboards to make smarter business decisions, but everything you need is already collected and collated by your cloud-based ERP system simultaneously as you work.
An ERP is a catalyst for engineering growth and streamlining your company’s processes. In the wholesale distribution industry alone, it equates to orders picked, packed, fulfilled faster, and the synchronization of all the moving pieces of your business.