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How To Boost Sales With Technology

Andre Smith

The primary benefit of advanced technology is to improve how companies do business. But to sustain a healthy business, technology should also improve sales. If technology does not help increase your business’s sales volume, you might question its inherent business value. For this reason, before adopting new tech, savvy business owners should ask, “How does bringing this technology on-board improve sales and my business’s bottom line?”

With this question in mind, let’s look at types of modern tech that do tend to improve sales.

Social media

Social media offers a modern approach to reaching consumers and their friends. From social networking sites to social bookmarking pages, every outlet creates an opportunity to connect people online in a socially collective capacity. By adopting marketing methods that utilize these social avenues, businesses can reach not only their current customers but also their customers’ connections.

Used effectively, social media provides quick and direct access to a vast collection of social connections, which can potentially help a company’s products to “go viral.” Viral spikes are far less costly and more efficient than traditional marketing tactics and can be a major win for any company. As noted by Jeff Bullas, well-known brands such as Cadbury and Heinz have been particularly successful in leveraging social media to get more out of their sales and marketing efforts.

The cloud

In the past, companies distributed their latest software on physical media. Even with the advent of CD-ROMs and flash drive technologies, both of which were considered revolutionary, the sheer expense and slow speed of data deployment proved to be a barrier to sales.

Fast-forward to the age of the cloud, and both these problems have been solved. Companies can cut costs dramatically by eliminating physical media, and the sheer speed of cloud-based app deployment on demand is unparalleled. This makes data products cheaper and easier for consumers to obtain, which in turn will improve sales volume for any industry or niche market that adopts the cloud.

Modern POS systems

Modern point-of-sale (POS) systems are integral to improving retail sales. The technology’s advanced functionality allows retailers to offer different payment processing options, from NFC to crypto-currency. POS systems also offer users the ability to manage, track, and automate inventory orders, eliminating the age-old problem of depleted stock supplies when sales are booming. When inventory dips below a specified volume setting, for example, the POS system automatically orders more to ensure that the retailer can continue to meet consumer demand. This reduces the risk of lost sales opportunities due to inventory reduction problems. Today’s POS systems also gives consumers direct mobile access to product selections. This feature is especially advantageous in the food services industry, where customers can make purchasing choices while waiting to be served.

Conclusion

Today’s businesses have access to more technology than ever before. While most companies focus their tech investments on increasing sales volume, it can be difficult to discern which tools will do this most effectively. Sometimes determining this is a matter of trial and error, but companies can learn many lessons on how to increase sales with technology by looking at the examples and successes achieved by other businesses.

For more strategies that boost the bottom line, see 3 Surprising Reasons Why Social Collaboration Should Be Part Of Your 2016 Sales Strategy.

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About Andre Smith

An Internet, Marketing and E-Commerce specialist with several years of experience in the industry. He has watched as the world of online business has grown and adapted to new technologies, and he has made it his mission to help keep businesses informed and up to date.

Innovation Without Boundaries: Why The Cloud Matters

Michael Haws

Is it possible to innovate without boundaries?

Of course – if you are using the cloud. An actual cloud doesn’t have any boundaries. It’s fluid. But more important, it can provide the much-needed precipitation that brings nature to life. So it is with cloud technology – but it’s your ideas that can grow and transform your business.USA --- Clouds, Heaven --- Image by © Ocean/Corbis

Running your business in the cloud is no longer just a consideration during a typical use-case exercise. Business executives are now faced with making decisions on solutions that go beyond previous limitations with cloud computing. Selecting the latest tools to address a business process gap is now less about features and more about functionality.

It doesn’t matter whether your organization is experienced with cloud solutions or new to the concept. Cloud technology is quickly becoming a core part of addressing the needs of a growing business.

5 considerations when planning your journey to the cloud

How can your organization define its successful path to the cloud? Here are five things you should consider when investigating whether a move to the cloud is right for you.

1. Understanding the cloud is great, but putting it into action is another thing.

For most CIOs, putting a cloud strategy on paper is new territory. Cloud computing is taking on new realms: Pure managed services to software-as-a-service (SaaS). Just as legacy computing had different flavors, so does cloud technology.

2. There is more than one way to innovate in the cloud.

Alignment with an open cloud reference architecture can help your CIO deliver on the promises of the cloud while using a stair-step approach to cloud adoption – from on-premise to hybrid to full cloud computing. Some companies find their own path by constantly reevaluating their needs and shifting their focus when necessary – making the move from running a data center to delivering real value to stakeholders, for example.

3. The cloud can help accelerate processes and lower cost.

By recognizing unprecedented growth, your organization can embark on a path to significant transformation that powers greater agility and competitiveness. Choose a solution set that best meets your needs, and implement and support it moving forward. By leveraging the cloud to support the chosen solution, ongoing maintenance, training, and system issues becomes the cloud provider’s responsibility. And for you, this offers the freedom to focus on the core business.

4. You can lock down your infrastructure and ensure more efficient processes.

Do you use a traditional reporting engine against a large relational database to generate a sequential batched report to close your books at quarter’s end? If so, you’re not alone. Sure, a new solution with new technology may be an obvious improvement. But how valuable to your board will you become when you reduce the financial closing process by 1–3 days? That’s the beauty of the cloud: You can accelerate the deployment of your chosen solution and realize ROI quickly – even before the next full reporting period.

5. The cloud opens the door to new opportunity in a secure environment.

For many companies, moving to the cloud may seem impossible due to the time and effort needed to train workers and hire resources with the right skill sets. Plus, if you are a startup in a rural location, it may not be as easy to attract the right talent as it is for your Silicon Valley counterparts. The cloud allows your business to secure your infrastructure as well as recruit and onboard those hard-to-find resources by applying a managed services contract to run your cloud model

The cloud means many things to different people. What’s your path?

With SAP HANA Enterprise Cloud service, you can navigate the best path to building, running, and operating your own cloud when running critical business processes. Find out how SAP HANA Enterprise Cloud can deliver the speed and resources necessary to quickly validate and realize solid ROI.

Check out the video below or visit us at www.sap.com/services-support/svc/in-memory-computing/hana-consulting/enterprise-cloud-services/index.html.

Connect with us on Twitter: @SAPServices

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Michael Haws

About Michael Haws

Michael Haws is the Vice President of HANA Enterprise Cloud at SAP. His specialties include Enterprise Resource Planning Software & Services, Onshore, Nearshore, Offshore--Application, Infrastructure and Business Process Outsourcing.

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Consumers And Providers: Two Halves Of The Hybrid Cloud Equation

Marty McCormick

Long gone are the days of CIOs and IT managers freely spending money to move their 02 Jun 2012 --- Young creatives having lunch and conversation. --- Image by © Hero/Corbisexisting systems to the cloud without any real business justification just to be part of the latest hype. As cloud deployments are becoming more prevalent, IT leaders are now tasked with proving the tangible benefits of adopting a cloud strategy from an operational, efficiency, and cost perspective. At the same time, they must balance their end users’ increasing demand for access to more data from an ever-expanding list of public cloud sources.

Lately, public cloud systems have become part of IT landscapes both in the form of multi-tenant systems, such as software-as-a-service (SaaS) offerings and data consumption applications such as Twitter. Along with the integration of applications and data outside of the corporate domain, new architectures have been spawned, requiring real-time and seamless integration points.  As shown in the figure below, these hybrid clouds – loosely defined as the integration of data from systems in both public and private clouds in a unified fashion – are the foundation of this new IT architecture.

hybridCloudImage

Not only has the hybrid cloud changed a company’s approach to deploying new software, but it has also changed the way software is developed and sold from a provider’s perspective.

The provider perspective: Unifying development and operations

Thanks to the hybrid cloud approach, system administrators and developers are sitting side by side in an agile development model known as Development and Operations (DevOps). By increasing collaboration, communication, innovation, and problem resolution, development teams can closely collaborate with system administrators and provide a continuous feedback loop of both sides of the agile methodology.

For example, operations teams can provide feedback on reported software bugs, software support issues, and new feature requests to development teams in real time. Likewise, development teams develop and test new applications with support and maintainability as a key pillar in design.
After seeing the advantages realized by cloud providers that have embraced this approach long ago, other companies that have traditionally separated these two areas are now adopting the DevOps model.

The consumer perspective: Moving to the cloud on its own terms

From the standpoint of the corporate consumer, hybrid cloud deployments bring a number of advantages to an IT organization. Specifically, the hybrid approach allows companies to move some application functionality to the cloud at their own pace.
Many applications naturally lend themselves to public cloud domains given their application and data requirements. For most companies, HR, indirect procurement, travel, and CRM systems are the first to be deployed in a public cloud. This approach eliminates the requirement for building and operating these applications in house while allowing IT areas to take advantage of new features and technologies much faster.

However, there is one challenge consumers need to overcome: The lack of capabilities needed to extend these applications and meet business requirements when the standard offering is often insufficient. Unfortunately, this tempts organizations to create extensive custom applications that replicate information across a variety of systems to meet end user requirements. This development work can offset the cost benefits of the initial cloud application, especially when you consider the upgrades and support required to maintain the application.

What this all means to everyone involved in the hybrid cloud

Given these two perspectives, on-premise software providers are transforming themselves so they can meet the ever-evolving demands of today’s information consumer. In particular, they are preparing for these unique challenges facing customers and creating a smooth journey to a hybrid cloud.

Take SAP, for example. By adopting a DevOps model to break down a huge internal barrier and allowing tighter collaboration, the company has delivered a simpler approach to hybrid cloud deployments through the SAP HANA Cloud Platform for extending applications and SAP HANA Enterprise Cloud for hosting solutions.

Find out how these two innovations can help you implement a robust and secure hybrid cloud solution:
SAP HANA Cloud Platform
SAP HANA Enterprise Cloud

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Marty McCormick

About Marty McCormick

Marty McCormick is the Lead Technical Architect, Managed Cloud Delivery, at SAP. He is experienced in a wide range of SAP solutions, including SAP Netweaver SAP Portal, SAP CRM, SAP SRM, SAP MDM, SAP BI, and SAP ERP.

How Much Will Digital Cannibalization Eat into Your Business?

Fawn Fitter

Former Cisco CEO John Chambers predicts that 40% of companies will crumble when they fail to complete a successful digital transformation.

These legacy companies may be trying to keep up with insurgent companies that are introducing disruptive technologies, but they’re being held back by the ease of doing business the way they always have – or by how vehemently their customers object to change.

Most organizations today know that they have to embrace innovation. The question is whether they can put a digital business model in place without damaging their existing business so badly that they don’t survive the transition. We gathered a panel of experts to discuss the fine line between disruption and destruction.

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qa_qIn 2011, when Netflix hiked prices and tried to split its streaming and DVD-bymail services, it lost 3.25% of its customer base and 75% of its market capitalization.²︐³ What can we learn from that?

Scott Anthony: That debacle shows that sometimes you can get ahead of your customers. The key is to manage things at the pace of the market, not at your internal speed. You need to know what your customers are looking for and what they’re willing to tolerate. Sometimes companies forget what their customers want and care about, and they try to push things on them before they’re ready.

R. “Ray” Wang: You need to be able to split your traditional business and your growth business so that you can focus on big shifts instead of moving the needle 2%. Netflix was responding to its customers – by deciding not to define its brand too narrowly.

qa_qDoes disruption always involve cannibalizing your own business?

Wang: You can’t design new experiences in existing systems. But you have to make sure you manage the revenue stream on the way down in the old business model while managing the growth of the new one.

Merijn Helle: Traditional brick-and-mortar stores are putting a lot of capital into digital initiatives that aren’t paying enough back yet in the form of online sales, and they’re cannibalizing their profits so they can deliver a single authentic experience. Customers don’t see channels, they see brands; and they want to interact with brands seamlessly in real time, regardless of channel or format.

Lars Bastian: In manufacturing, new technologies aren’t about disrupting your business model as much as they are about expanding it. Think about predictive maintenance, the ability to warn customers when the product they’ve purchased will need service. You’re not going to lose customers by introducing new processes. You have to add these digitized services to remain competitive.

qa_qIs cannibalizing your own business better or worse than losing market share to a more innovative competitor?

Michael Liebhold: You have to create that digital business and mandate it to grow. If you cannibalize the existing business, that’s just the price you have to pay.

Wang: Companies that cannibalize their own businesses are the ones that survive. If you don’t do it, someone else will. What we’re really talking about is “Why do you exist? Why does anyone want to buy from you?”

Anthony: I’m not sure that’s the right question. The fundamental question is what you’re using disruption to do. How do you use it to strengthen what you’re doing today, and what new things does it enable? I think you can get so consumed with all the changes that reconfigure what you’re doing today that you do only that. And if you do only that, your business becomes smaller, less significant, and less interesting.

qa_qSo how should companies think about smart disruption?

Anthony: Leaders have to reconfigure today and imagine tomorrow at the same time. It’s not either/or. Every disruptive threat has an equal, if not greater, opportunity. When disruption strikes, it’s a mistake only to feel the threat to your legacy business. It’s an opportunity to expand into a different marke.

SAP_Disruption_QA_images2400x1600_4Liebhold: It starts at the top. You can’t ask a CEO for an eight-figure budget to upgrade a cloud analytics system if the C-suite doesn’t understand the power of integrating data from across all the legacy systems. So the first task is to educate the senior team so it can approve the budgets.

Scott Underwood: Some of the most interesting questions are internal organizational questions, keeping people from feeling that their livelihoods are in danger or introducing ways to keep them engaged.

Leon Segal: Absolutely. If you want to enter a new market or introduce a new product, there’s a whole chain of stakeholders – including your own employees and the distribution chain. Their experiences are also new. Once you start looking for things that affect their experience, you can’t help doing it. You walk around the office and say, “That doesn’t look right, they don’t look happy. Maybe we should change that around.”

Fawn Fitter is a freelance writer specializing in business and technology. 

To learn more about how to disrupt your business without destroying it, read the in-depth report Digital Disruption: When to Cook the Golden Goose.

Download the PDF (1.2MB)

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Why Small And Midsize Businesses Need More Than Just Data To Act In The Moment

Alison Biggan

Part 4 of “The Road to Live Business” series

The challenges small and midsize businesses face on a daily basis are beyond anything seen before. Over the last five years, companies across all industries have been impacted by:

  • The rise of mobile devices and cloud-based applications that have fundamentally changed how firms interact with customers and manage operations
  • New market dynamics that emerge without warning and threaten to disrupt operations significantly and at a moment’s notice
  • Employees of all roles and decision-making authority who want access to information so they can positively impact overall business performance

To address these pressures and ensure growth and expansion, small and midsize businesses must be agile and highly responsive – all with a drive to act in the moment.

Although a data-driven mindset and analytics are crucial to achieving this state, they only matter if you use them to look into the future, uncover emerging trends, and predict where the company is heading. Then, you can act in the moment, make thoughtful decisions in an instant, and serve customers in the moment of need – all characteristics of a Live Business.

There’s never been a better time for small and midsize businesses to act in the moment

Access to data is better and easier than ever before. You don’t have to be a big, multinational brand to take advantage of the analytics technology that’s available today. Your approach to leveraging analytics can be incremental and the technology is more affordable than ever, which drives down your company’s investment risk and simplifies your technology complexity.

Thanks to cloud technology, analytics solutions that were once siloed are now merging to form a single, integrated solution. From one source, you can capture business intelligence, generate a report, plan for the future, predict outcomes, and visualize insights. You don’t have to be a power user or a Ph.D. data scientist to get insight from your data. Data discovery and exploration are so intuitive that you can drill down and interact with data in real-time to get deeper, more accurate insights into what’s happening in your business. And through predictive modeling, you can pinpoint trends, compare the effectiveness of potential scenarios, and predict the future to drive new business models.

With this level of access and speed, you have the information needed to make the right decisions – in real time. Very quickly, you can see how regional activities, customer behavior patterns, market volatility, and emerging risks can impact your operations in the here and now. And with the rising popularity of mobile apps, all of your business users can make these decisions anytime, anywhere.

The value of combining the strengths of a small and midsize business with analytics

Small and midsize businesses are famous at operating with greater agility and speed than their much larger counterparts. Now that technology is more affordable and right-sized, companies like yours can leverage the technology as a competitive advantage while they are in that agile state.

It doesn’t require big budgets, big teams, or big IT departments. If you think about it from a data analytics perspective, that’s a huge step forward in delivering the features and functions your business needs – right now.

To learn how your business can become a Live Business, check out Forbes Insights’ recent report “Doing Business In-the-Moment: How SMBs Run Live in the Digital Economy.” Over the next three weeks, we will share additional insights from this research. Be sure to check every Tuesday for new installments to our blog series “The Road to Live Business.” 

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About Alison Biggan

Alison Biggan is global head of Product Marketing, Digital Enterprise Platform Group, at SAP.