The term “digital product” has become a common buzzword. From mobile apps to e-books and online courses to software tools, digital products have transformed the...
1. The implementation paradox
Just like it takes money to make money, it takes time to save time. Implementing tech might require minimal time up front, but in the end, you’ll make up that time in spades. Having an agile tech stack allows you to adapt easily to changing technologies and software. However, it’s not uncommon to hit a brick wall in getting the financing to invest in those updates. Therefore, it’s important for executives to be forward-thinking and understand how the pros of implementation outweigh the cons in terms of time and effort.
Demonstrating how new technology improves efficiencies, productivity and sales help your C-suite overcome the implementation paradox. Basically, the belief new tech isn’t worth the time has held many a company back. Educating your executive team on the evolving technology landscape is key.
2. The benefits of best-in-class
New technologies allow you to gain from the “best-in-class” tech out there. Best-in-class means your technology does everything it is designed to do better than any other option available. A new technology that is best-in-class shouldn’t solve a single challenge but instead optimize your entire tech stack. In other words, it should empower business functions, giving each department more time to contribute to meeting company goals.
They reduce low-value admin tasks, improve consistencies, and ensure all touch points for your processes are handled safely and efficiently. Best-in-class new tech integration enables your team to continue to access everything they need without disruption and perform time-consuming manual tasks in fewer steps.
3. The constantly evolving landscape of eCommerce
Every day evolving technologies emerge, offering better ways to achieve your goals. However, you need to make sure your choices provide the efficiencies you expect. By keeping your ear to the ground, you can discover what new technology will help improve customer service. Having an IT team or expert to evaluate new technologies and how they can improve your current tech stack ensures you never miss out on opportunities. For example, some of the core competencies new e-commerce technologies should offer include:
Seamless Collaboration: Enabling teams to work together more efficiently is always an important aspect of e-commerce. It improves productivity, reduces errors, and creates a single source of truth for critical data.
Data Management: Simplified data management calls for a centralized storage system to reduce duplicates and provide real-time data all departments can rely on to make informed decisions. Cloud architecture enables you to pool your data in one secure location for improved data management.
Task Automation: The more manual tasks you can automate, the more time your team has to perform the high-value tasks that positively impact your SKU growth potential, customer service, and bottom line.
Time to Market: Technology such as a PIM decreases time to market and ensures you remain at the forefront of your industry. You have the upper hand over the competition by being the first to introduce emerging trends that set your brand apart.
The evolving landscape of eCommerce calls for tech solutions like PIM that empower you to expand to new marketplaces, add new SKUs, manage digital assets and ensure customer experiences lead to brand loyalty.
4. Show your team you care about their day-to-day
Implementing new tech is a great way to demonstrate to your team that you’re committed to helping them overcome their challenges. The latest technology is designed to improve processes and optimize efficiencies. Retaining top talent has become one of the prominent challenges for small to medium businesses struggling to offer the incentives offered by large corporations.
Through new technology, you can show your team you care about their day-to-day struggles. It provides conveniences that make their jobs easier while allowing them to focus on their core competencies to develop their career paths. It can even help close skills gaps by enabling employees to learn new skills together as new technology is introduced.
This ensures no one gets left behind. You develop improved methods that create better customer and employee experiences to reduce churn and create longer-lasting career and customer life cycles.