The success of a retail business is extremely customer-centric. Quick delivery, reliable service, and quality products are critical to customer satisfaction. Whatever your business niche is- grocery, food, beauty, apparel & footwear, consumer products, customer satisfaction matters the most. However, in a data-driven world, keeping up with customer preferences is extremely difficult. That’s where business intelligence comes into the scene.
Ingold Solutions GmbH, an SAP Silver Partner in Germany brings the right set of tools to reap the benefits of data-driven business advantage. Business intelligence (BI) tools powered by SAP Business One are powerful, modern, and information-based. They are available for retail SMEs, which aids in strategic customer-success planning and decision-making.
Today, when online retailing is becoming mainstream, data plays a pivotal role in managing the day-to-day process. Understanding how it works and the best way you can make a strategic application of the same delivers you the edge over competitors. Read on to discover further.
How Retail Business Success is Essentially Data-driven?
Business Intelligence is primarily dependent on data as well as practical evidence from a diverse collection of sources, which is called big data. Recently, when the retail sector is undergoing digital transformation, big data helps businesses to acquire information about every process, including customer preference, sales, inventory , finances, and everything else that’s the part and parcel of the retail business. Easy access to such information strengthens business intelligence and drive both value creation and innovation.
How Business Intelligence is Critical to Business Success?
Purchasing orders and merchandising management are the key determinants of customer success. Properly applied analytics pertaining to these two aspects helps retailers gain insight and better control over supply chain and business management as a whole. The sole idea of business intelligence is to create a clear and distinct understanding of the business out of the raw data. The process facilitates:
- Streamlined business process
- Correct market predictions
- Capitalising on trends & reaping profits out of it
- Making more intelligent business decisions
- Transforming through enhanced product development and sourcing
- Pursuing healthy organizational change
- Strengthening competitive advantage
- Reducing risk exposure
Fostering Communication and Collaboration
SAP Business One is powered by AI and Analytics that help retail SMEs to track inventory, orders, returns, customer management, and more. Real-time monitoring of the data helps to create complex forecasting models, which further leads to more accurate insights. Thus, decision making becomes solely data driven, which further steers the business to success.
Getting Started with SAP Business One
As a retail SME, if you are planning to put SAP Business One to work, here’s what you must take into account.
- Invest considerable time and resources to speed up the process. You can reach out to the certified SAP partners and service providers who can help you throughout.
- Get an implementation strategy, budget, and timeline.
- Work with a certified SAP partner for end-to-end support. Also, make sure to conduct proper training for your in-house team.
Ingold Solutions GmbH is a certified SAP Silver Partner that is successfully driving retail’s digital transformation. According to the industry leaders “ in the coming days, retail businesses empowered by SAP Business One will have better control over their growth. With better access to insights, optimal business decisions, profits, value, and competitive strength are just a matter of time.
Leverage the Ingold Advantage
Ingold Solutions GmbH automates your business with comprehensive ERP solutions powered by SAP Business One. We enable the retail industry to implement business-specific ERP solutions to apply the best business intelligence practices and ensure better employee, user, and customer experiences.
We work with retailers to evaluate their specific business challenges and accordingly advise customised solutions to automate their business process. We specialise in driving innovation, collaborate across silos and boost profitability in the retail business. With us, you can manage multichannel order process, monitor stocks and inventory levels, achieve better Customer Relationship Management goals.
Want to know how we enable retail SMEs to realize a more successful future. Reach us out at sales@ingoldsolutions.co .
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