We live in a world where technology has made us all more connected than ever. And this same growth in ‘connection’ applies to businesses. Technology is now the foundation of successful business strategies and data can be used to harvest, store and analyse information to gain competitive advantage.
Connected businesses have their finger on the pulse of what matters and if your business isn’t using a platform that will allow for this connection, you’re at risk of being left behind.
In this blog, we point out the 3 signs that tell you your business isn’t connected, and signal that it’s time to start replacing your siloed point solutions with an end-to-end platform for growth, optimised for disruption.
So, what does a ‘connected business’ look like?
With digitally-enabled processes and ways of working, connected businesses enjoy synergies and insights that only people working seamlessly with advanced technology can bring. They leverage their staff, customers, partners and other stakeholders to succeed.
A disconnected business
Sometimes its clearer to describe what happens when a business is not connected, and what you should look to avoid.
Here are 3 signs that your business is disconnected:
1. Inability to execute the vision
An obvious sign of a disconnected business is one that’s unable to execute its vision – after all a vision is no good without execution. And a big part of execution is getting the required insights to ensure you’re on track.
Siloed systems can make it hard to really figure out what’s working and what’s not, as well as where you’re at in the execution of your vision. Legacy systems are not set up to work with agile business models, and for a business to be connected it needs to be using a platform that’s nimble and adaptable to future change.
2. High Turnover
A lot of companies tout their people as their greatest asset but when a business is ‘disconnected’ the skills and abilities of the people who work there are not fully appreciated or leveraged.
Connected businesses fully leverage their staff, extracting new ideas and ways of doing things, by creating a culture that feeds peoples’ creativity and allows them to put forward solutions to common internal problems and customer pain points.
If your business isn’t doing these things then there’s a good chance that it’s ‘disconnected’. Your organisation may have the best intentions but if it doesn’t have the culture, processes and systems in place then it’s not achievable. This might lead to high staff turnover, as people feel they lack a voice or don’t play a major role in the overall picture.
In the end, it’s a culture thing, and it goes much deeper than a putting in a new IT system to magically fix the connection between the business and its people. But a new system can be the start of a cultural change.
Connected businesses have a system that brings the different functions and departments together - from Sales to Finance to Logistics to HR to IT - a proper platform for growth can help people feel part of a vision going forward.
3. Increasing customer dissatisfaction
Disconnected businesses are:
- Hard for customers to interact with.
- They may have different experiences at different times, or your business may have a lack of ‘memory’ about previous interactions leading to frustration.
- Unable to add value beyond the transaction.
- They lack insight into customers, their specific needs and how these could be leveraged with tailored offers in the future.
Connected businesses are ones that can bring value to customers in ways that the customer wasn’t even expecting.
Now that you’ve learnt how to spot a disconnected business, how does your business compare? The smart choice is to get connected, stop missing out on insights and optimise for future business opportunities.
So how does your business become connected? Look for a state-of-the-art ERP solution, like SAP S/4HANA, to enable your business to mine data and look deeper, recommending future actions and going beyond the transactional.