The Manufacturing Industry is moving from product-centric to customer-centric. While differentiation by product becomes more difficult as well as costly – companies are putting the customers and customer services into the center of their strategies – to achieve:
Enhancing the customer experience;
Becoming easier to do business with (both up and down the value chain);
Executing smarter and as lean as possible;
Generating more recurring revenue and increasing profit.
Business Value Quadrants enabled by B2B eCommerce Capabilities
Gartner estimates that by 2025, 80% of B2B sales interactions will occur digitally. In an increasingly crowded B2B eCommerce space, leading organizations are exploring ways to remain competitive and grow revenue from digital channels.
Customer Self-Service capabilities and process automations enabling personalized but lean customer interaction and higher/faster throughput while reducing operational process cost in sales and Service (Lifecycle).
Composable eCommerce solutions combined with data analytics capabilities enable makes it easy for customers to get their requirements positioned and fulfilled – making it easy to do business with you.
Customer Lifetime Value
Service (Lifecycle) Business becomes the biggest revenue and profit generator in the future. Establishing a composable platform which connect asset performance monitoring, recommendations, value added services and order management – delivers the foundation for long-term customer value.
Flexibility of Process, Data, Technology Architecture does enable incremental innovations – focused on where the value lies – without renewing mucolytic platforms through huge and costly transformation projects.
Through End-to-End integration with Business Functions
Customer & Product Service
Asset Performance Management
Payment and Billing
Data Analytics & IoT
Customer Forecast Management
Customer Behavior Management
Self-service solutions help businesses reduce costs by automating routine tasks, reducing labor costs, and improving efficiency, while also improving the customer experience.
Reduced labor costs: Self-service solutions allow customers to handle routine tasks, such as account management and billing inquiries, without the need for human assistance, reducing the number of customer service representatives needed.
Decreased call center volume: By providing customers with self-service options, businesses can reduce the volume of incoming calls to their call centers, freeing up resources for more complex tasks.
Improved efficiency: Self-service solutions can automate routine tasks, such as account updates and password resets, increasing the speed and accuracy of these processes.
Other Cases: Managing own Assets, Receiving Asset Performance Information, Software-Updates, Claim Management, Contract Management, a.o.
Lower IT support costs: Self-service solutions can reduce the demand for IT support, as customers can handle routine tasks on their own.
Increased customer satisfaction: Self-service solutions can provide customers with greater control and flexibility, potentially leading to increased customer satisfaction.
Optimize product pricing: Ensure that product pricing is competitive and aligned with the target audience's purchasing power and expectations.
Improve product presentation: Invest in high-quality product images, detailed product descriptions, and user-friendly product pages to increase product appeal and conversion rates.
Offer promotions and discounts: Offer discounts, promotions, and other incentives to entice customers to make a purchase and drive sales.
Improve website design and user experience: Ensure that the website is easy to navigate, fast, and visually appealing to improve the overall user experience and increase the likelihood of conversions.
Utilize data and analytics: Use data and analytics to track customer behavior and preferences and use this information to make informed decisions about product offerings and promotions.
Enhance marketing efforts: Invest in targeted marketing efforts, such as email marketing, search engine optimization, and social media advertising, to reach a wider audience and drive traffic to the website.
Offer upsell and cross-sell opportunities: Offer complementary or additional products to customers during the checkout process to increase the average order value and improve revenue generation.
Provide excellent customer service: Ensure that customer service is responsive, helpful, and available through multiple channels to improve customer satisfaction and reduce customer churn.
Customer Lifetime Value
An e-commerce platform can help improve customer lifetime value by providing personalized experiences, increasing customer engagement, improving customer loyalty, and streamlining customer support.
Personalized experiences: E-commerce platforms can use data analytics to personalize the customer experience, such as providing product recommendations based on previous purchases, Installed Base and new Product developments.
Increased customer engagement: E-commerce platforms can provide customers with a convenient and accessible shopping experience, leading to increased engagement and repeat purchases.
Improved customer loyalty: E-commerce platforms can offer loyalty programs, such as rewards points or exclusive discounts, personalized promotion actions to incentivize repeat purchases and increase customer loyalty.
Upselling and cross-selling: E-commerce platforms can use data analytics and personalized recommendations to suggest complementary or additional products, increasing the average order value and improving customer lifetime value.
Improved customer support: E-commerce platforms can provide customers with self-service options, such as FAQs and live chat, personalized add-value services, improving the customer support experience and potentially reducing customer churn.
Establishing an e-commerce platform requires operational agility, meaning the ability to quickly and effectively adapt to changes and challenges. Here are some ways to improve operational agility when setting up an e-commerce platform:
Choose the right technology: Choose an e-commerce platform that is scalable, flexible, and can handle a high volume of traffic and transactions.
Streamline processes: Automate routine processes, such as order fulfillment and inventory management, to increase efficiency and reduce manual labor.
Utilize data and analytics: Use data and analytics to track key metrics, such as customer behavior and sales trends, to make informed decisions and improve the platform's performance.
Foster a culture of innovation: Encourage continuous improvement and innovation by empowering employees to identify and implement new solutions.
Implement agile methodologies: Adopt agile methodologies, such as Scrum or Kanban, to ensure that development and implementation processes are flexible and responsive to changing needs.
Foster collaboration and teamwork: Encourage collaboration and teamwork among employees and stakeholders to promote a shared understanding of goals and priorities.
Foster a customer-focused culture: Foster a customer-focused culture by prioritizing customer needs and feedback in decision-making and continuously improving the customer experience.
By implementing these strategies, businesses can establish an e-commerce platform that is agile, efficient, and capable of adapting to changing customer needs and market trends.
Many Manufacturing Companies are investigating to find the right disruptive technology solution or platform with advanced functionalities to implement and drive quick results with minimal initial investment.
While technology is a strong focus – the ultimate benefits can only get achieved when the solution contains and end-to-end perspective aligning – Process, Technology, Data and People – in the context of what kind of business avenues and sales solutions they will be taking advantage of.
It´s also crucial to ensure that exploring new avenues for sales doesn’t mean compromising on the delivery of personalized and relevant service for each customer group.
Composable Solutions for Manufacturing
Prosperer is a platform for manufacturing companies to deliver modern e-commerce solutions.
Integrations and processes created to provide consistent experience for customers and Backoffice staff
Performance and scalability by design thanks to cloud infrastructure and flexible integration solutions
Accelerated B2B processes with built-in features and architecture ready to embrace new business models
CX focused: experience design is based on research, co-created and verified with customers
Definition and Roadmapping of Digital Strategy, Programs and Solutions
Hycom helps companies move towards a customer mindset, viewing channels as a whole and converting this knowledge into actionable concepts.
Build solutions outside-in – based on customer expectations and industry trends:
Focus on your company business strategy and goals
Improve customer experiences across all touchpoints
Set up environment for lean management and agile delivery
Implementation of SAP Commerce
Hycom is the partner of choice for the implementation and development of complex SAP-based commerce and self–service solution.
Active partnership with SAP since the beginning of Hycom:
Experienced team of 85 engineers who did complex and large-scale implementations of SAP commerce
Rapid implementation of SAP thanks to industry-oriented accelerators
Lean, customer-centric implementation methods that allow bringing values fast
Our Clients from Manufacturing industry
Our Clients from Manufacturing industry