Peter Harris , Chief Operating
Officer , Pipedrive
Peter Harris , Chief Operating Officer , Pipedrive
The UK is preparing for what the Bank of England warns might be the longest ever recession . This is on the heels of considerable economic uncertainty , rising interest rates and rampant inflation , not to mention much political and labour market manoeuvring .
Yet modern businesses boast digital programmes that can react in real time to changing signals , trends and pricing information . Digitalisation across the organisation means that business intelligence can be adaptive to a volatile market landscape , with greater business agility able to follow the higher levels of datause in the modern enterprise .
Use that data
a new exporting opportunity in China . This was made possible via its presence in that market through its supply chain , and then designing and developing a range of products specifically for the Chinese market .
We are now seeing more customers pivoting their business models by collaborating vertically with their current supply chain partners to offer a new range of services and meet the increased demand for highervolume manufacturing . From our research , it was shown that almost half of respondents ( 40 %) are now offering e-commerce via online ordering , with 39 % adding Configure-Price-Quote ( CPQ ) solutions to their strategy .
Gathering and using good intelligence is the primary action . Every other action should flow from insights , led by data .
Risk audit : You want every manager to be aware of and able to quantify their risks and have a greater understanding of how they may affect the wider business . Forward planning means being able to take the right action when needed .
Work the plan : A business plan is essential but will need to flex with conditions . Make sure the business plan is relevant to the times and departments are honest with what can be achieved . Stretch goals must be fitted to reality .
Any business embarking on a new commercial strategy needs access to the best tools and accurate information at the right time , for efficient datadriven decision-making that reduces risk . This was emphasised by the fact that 86 % of businesses reported changing their technologies and expanding capabilities to manage their diversified offering .
Manufacturers , distributors and retailers looking to diversify can leverage advanced technologies such as Artificial Intelligence ( AI ) and Augmented Reality ( AR ), which can visualise products or materials in real environments and automatically respond to any supply chain disruptions in real-time . However , businesses must also ensure they are upskilling their workforce and nurturing talent to operate this technology effectively if they are to reap the full rewards of their Digital Transformation investments .
Your customer support must be truly supportive : Customer teams are vital to growing revenue . Deep dive into the sales , marketing and after-care team processes to ensure they maintain a pipeline of happy customers .
Negotiate with an eye on future relationships : Be armed with data and forecasts to give weight to your red lines when discussing pricing , compensation or payment terms .
Let technology take the strain : Automation and integration should be key to remove friction and manual labour from operations . Data must flow from team to team and up to leadership in a usable form . From the sales team ’ s CRM to the board ’ s dashboards , ensure software is fully integrated so that forecasting and reporting is seamless . p
76 INTELLIGENTCIO EUROPE www . intelligentcio . com