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The distribution landscape is in a constant state of change. Whether it’s the changes you’ve had to make to remain competitive in the past few years or the changes you’ve needed to make to survive 2020, your company has been consistently on the move as it worked to fend off challenges to business model, operating process, or margins.
2020 has been an intriguing year. For many, this meant challenges. For some—especially in industries serving the medical community—this meant unforeseen opportunities. For all, this meant that some kind of change was in order. Understandably, most organizations—especially those forced to lay off workers, reforecast revenue, and do whatever was needed to survive the lockdowns—are looking to put this year into the rearview.
In distribution, the product is a key part of your business. Though many distributors in recent years have looked toward partnership and value-added services as they look to fight off low-cost entrants, your business still relies on the same “product in, product out” model that it always has.
Technology, in a larger sense, is a relatively ambiguous term. Not only could it be dismissed as jargon (it has the newest technology) or used as a filler word to sound innovative, it doesn’t discuss what is going on with a product.
Vendor relationships matter now more than ever. After months of trying to stabilize cash flow and collect from customers in order to pay your own vendors, lockdowns are ending and things might finally be looking up. But you’re not out of the woods just yet. You’ve just spent months trying to work with your suppliers’ collections departments, and relations might still be a bit tense at the moment.
You’ve probably heard that among the many benefits of working with a cloud vendor is that you receive frequent and robust updates. With Acumatica, you can expect this—it’s promised in their customer bill of rights, it’s been delivered consistently since their inception, and it’s been documented in a 300-plus page document that we’d like to try scratching the surface of.
It’s hard to imagine that ecommerce has existed for more than a quarter century. Though initial forays into buying and selling online relied on complicated processes only available to those well-versed in early 90s internet technology, ecommerce has evolved to provide shoppers with an easier-than-ever buying experience.
Though there are many benefits to choosing a cloud-based ERP solution, one of the biggest is simple: Twice-annual updates that add value for users. Once again, Acumatica has announced new functionality, and there are some impressive new features being added in their second release of 2020—Acumatica R2 2020.
Selecting an ERP system for your business can be challenging. From overt superiority claims to outright lies about competitors, it’s often hard to see the truth, making it incredibly easy to get lost in the shuffle. However, if you’re looking to make the most of an ERP decision, it pays to ask the right questions.
If 2020 has taught us anything, it’s this: The best-laid plans can be derailed in an instant. Though it’s unlikely we will face any kind of crisis like the COVID-19 outbreak in the foreseeable future, the last six months need to be a learning experience for all leaders. But as the economy slowly moves to reopen, it pays to not only understand what’s next, but to remain focused on what got you where you are today.