Be aware of these six trends – and get ahead in 2016

Published on the 13/01/2016 | Written by Bradley Stroop

The business landscape can expect to see even more competition amid soft economic growth in 2016 which will drive organisations to consider new technology or systems to gain a competitive edge…

There are a number of broad trends sweeping through the local market that are likely to contribute a more competitive stance for businesses in 2016, said Bradley Stroop, UXC Eclipse CEO. “This year, organisations should be looking at initiatives that provide cost savings, operational efficiencies, and, importantly, which improve the customer experience.”

He points to six business and technology trends that will help drive competitiveness in 2016. They are:

1. Greening the supply chain or ensuring suppliers are green.
Being known as a sustainable business can be a competitive differentiator. Yet, organisations need to be careful sustainability is not just a label or greenwash. Using suppliers that have green supply chains can deliver significant benefits including cost-savings, waste reduction, process efficiency, and overall business resilience, which can be passed on to organisations who negotiate their contract well. Organisations should look for suppliers with ERP solutions that can monitor, maintain, and optimise the supply chain.

2. The rise of mobile POS.
A new wave of technology including mobile point of sale (POS) will make retailers more powerful in 2016. Consumers are looking for a more personalised experience when they shop. They are well aware that companies collect information about them: what they want in return is shopping experiences that delight. This can be achieved using mobile POS systems.

3. From BPM to social BPM.
Businesses looking to improve internal communication, increase process transparency, and achieve operational efficiencies will adopt a social business process management (BPM) approach in 2016. Social BPM is emerging as the next step in BPM evolution but few organisations understand it clearly or have implemented it effectively to date.

4. Reap retention through customer-centricity.
Customer retention can reliably and consistently drive profits. Organisations need to embrace a customer-centric approach to the way they do business to ensure customer retention and bolster profits in 2016. To do this, they should implement a comprehensive CRM system and back it up with a potent ERP platform to help connect customers, employees, partners and products in a unified system.

5. ERP for SMEs.
Smaller companies and start-ups can get an edge over larger organisations in the sector by taking on the ERP technology employed by bigger rivals. An ERP system delivering a single source of information can help smaller businesses build up improved visibility into costs and potential project risks, as well identify pathways to greater efficiency.

6. Make ERP a priority.
There are many reasons why CEOs should have ERP on their priority list in 2016. One of those is to contribute to improved customer loyalty. When ERP and CRM systems are integrated, the result is optimised business processes that provide full visibility into customer behaviour letting organisations optimise processes to match customer expectations. This increased ability to know and deliver, ultimately leads to improved customer loyalty.

Post a comment or question...

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Follow iStart to keep up to date with the latest news and views...