You may be familiar with the four P’s of business marketing: product, price, promotion and place; it’s marketing 101. But your growing business has moved beyond 101 and into the real world of Distribution. What worked when you started will probably not continue to serve you going forward. To play in the big leagues, you need up-to-date business transformation in which you position your organization to compete in a new landscape where speed and precision are the name of the game. So, what are the four P’s of business transformation?
The Four P’s of Business Transformation
The four P’s of modern business transformation are profitability, process, productivity, and positioning. If your distribution company can master these concepts, you’ll be well positioned to thrive in your chosen field. One key factor in achieving the four P’s of business transformation lies in having a capable, efficient Cloud Enterprise Resource Planning (ERP) solution.
Let’s talk about how Cloud ERP can help maximize profit, facilitate processes, enhance productivity and position your company for further growth.
1. Profitability
A healthy business will insure profitability and a modern ERP solution is designed to get and keep your company on track by decreasing the labor and resources required for managing your basic business processes and allowing your team to focus their energy in more profitable pursuits. The combination of decreased costs and increased productivity will certainly be a boon to your bottom line. And according to , businesses with cloud ERP were better able to stay within budget than even their competitors who used on-premise solutions.
2. Process
Your processes will directly affect your profitability. If you can cut costs, speed up your workflows and aim for efficiency in all areas of your business, you can transform from a team bogged down with paperwork and redundancy to a team comprising a smooth running, more productive organization with your eye on the future.
3. Productivity
With processes automated and employees focused on the bottom line, productivity is the next layer in business transformation. Cloud ERP has the business intelligence tools that will allow you to analyze everything that is going on in your organization and make remedial or even proactive decisions about areas of vital concern such as machine, process, and employee efficiency.
4. Positioning
Now that we’ve covered the basics, it’s time to position your business for the next steps: adjusting to marketplace demand and tailoring strategies to fit. Your company’s image is important. The right Cloud ERP will help you project a cohesive image in the marketplace and design tailored marketing campaigns to reach your target audience. Positioning allows you to make your business stand out from the competition and reach the customers who are looking for what you have to offer.
Now that you have laid the groundwork, it’s time to shift your focus to a fifth, and possibly most important P: performance. To learn additional strategies and the benefits of working with Cloud ERP , written by Acumatica and provided to you free of charge by your local distribution industry ERP partner, .
to learn more about how Cloud ERP can help you continue to grow your distribution business.
By CAL Business Solutions
