B2B companies are looking for ways to develop their ecommerce experience to meet the demands and expectations of today’s customer. The B2B buyers of today have become accustomed to buying products through the mature online marketplaces, and as a result, have started to expect more from B2B websites. To meet these expectations, unified commerce should not be looked at as just a function – but an extension of your business. Failing to embrace the unified approach will make it difficult to achieve the experience B2B buyers expect today.
Like the outdoor enthusiasts who use their products, outdoor retail brands dislike the comfort zone, and thrive on pushing themselves to innovate and deliver new experiences for their partners and consumers.
Posted by Breanne Richardson, Retail Fashion Marketing Coordinator, NetSuite
Retailers and fashion brands are under enormous pressure to provide better shopping experiences while remaining profitable. That has meant evaluating different technology platforms with the hope of improving the customer journey efficiently and cost-effectively. Yet most are scratching their heads at where to even begin.
Launching your small business online can help you grow exponentially in terms of the number of prospective customers. With the help of suitable ecommerce software, it is possible to launch an ecommerce website for your online business in a matter of days. NetSuite’s SuiteCommerce is a modern ecommerce software platform that is built for multichannel ecommerce for today’s age.
Technological advances have dismantled geographical barriers for business, opening up the entire world not just for multinational corporations but also for small businesses. Small businesses are discovering the unlimited opportunities that playing in a global marketplace brings. However, they are also faced with the challenges that come from operating in multiple geographies, such as fulfilling environmental regulations, obeying tax policies, dealing with local currencies, and so on in various countries. On-premises, entry-level software systems that require manual processes adversely affect the profitability and productivity of small businesses.
Ecommerce is a huge business today, as the internet has eliminated national borders and thrown open large, hitherto inaccessible markets to sellers everywhere.
Marketing Research firm IPSOS recently unearthed the following data about how consumers in the US were buying online from ecommerce companies outside the US:
Mobile CRM or CRM software designed for mobile devices such as smartphones, tablets, etc. has become essential in a world where technology is a prime driver of business and mobile tech has become ubiquitous. Linking a sales team to customers via mobile CRM allows them to access the customers’ data through the cloud and through the mobile app. Mobile CRM is extremely valuable when the sales force requires real-time data during field visits to meet prospective customers.
With the world moving almost en masse to digital products and services, advertising and marketing agencies are no different. From the earlier system of commissions and retainers, agencies are now adopting fee-based and performance-based revenue generation. In this scenario, it is even more imperative that time, expenses and efforts are meticulously monitored and recorded for maximum cost efficiency of the agency.
Traditionally, ERP implementations have been occasional, ‘Big Bang’ events where major changes are made to the systems. Typically, these involve painful disruptions in operations, which take months (if not years) to bounce back to normal. This, in turn, holds the company back from progressing at its normal velocity as it tries to find its feet back after the disruption.
Today is the age of Agile. Success-focused software engineering companies realized some years ago that it is far better to introduce new products and upgrades continuously, in bite-sized increments, rather than big chunks of new technology at one time.
According to a report, top financial management personnel face the following five challenges this year:
With worldwide market liberalization and deregulation, combined with the latest advances in information technology, there has been an unprecedented surge in the number of multinational corporations around the world. Research from McKinsey Global Institute predicts that about 400 midsize emerging-market cities scattered around the world will generate virtually 40% of global business over the next decade and a half.
Unlike the ‘linear’ sales cycle of yesteryears, in today’s customer-centric digital world of business, the buzzword is ‘customer lifecycle’.The power is today in the buyer’s hands.
Customers are one of The most important parts of any business. In other words, businesses exist and thrive because of their customers. Therefore, it follows that recording and managing customer data, and treatingcustomer relationships with respectand diligence will pay rich dividends to the business.
Introduced to the world about four decades ago in the form of EDI (Electronic Data Interchange) and EFT (Electronic Funds Transfer), ecommerce has come a long way, today becoming a way of life for millions around the world. According to current figures, ecommerce expenditure will touch $5 trillion by 2020, indicative of 13% of the total payment transactions. While it enjoys such explosive growth, ecommerce faces a few challenges on the way.
Maclaren was founded in 1965 in Great Britain by Owen Maclaren, a former test pilot and design engineer who invented the lightweight umbrella stroller. The extremely successful line of baby strollers led to Maclaren being hailed as a name to reckon with in baby and child carrier systems.
Established in 1999 as an American business entity separate from its British parent, Maclaren USA decided to branch into online retailing in 2012 with its ecommerce portal. It ventured further globally into Asia and Europe the next year.
In most businesses – whether they offer products, services or both – revenue recognition is a key challenge because one needs to keep track of the constantly changing rules of licensing, contracting and distribution. Moreover, strict SEC regulations and standards of revenue recognition have to be met.
In order to efficiently tackle these regulatory challenges, your business needs a cloud-based ERP solution that provides advanced revenue recognition capabilities. The notion behind NetSuite’s revenue recognition software is to provide a fully integrated solution for reporting and revenue calculation; this simple idea leads to higher data integrity, flexible and easy-to-use systems, lower maintenance and greater visibility.
Software companies are known for their ability to grow, adapt, and transform themselves so as to counter the challenges thrown up by changing times, varying customer buying patterns, and upcoming competition. They need to be able to act swiftly and assertively, while maintaining a stable financial base for their organizations. Finance departments have to strike an ideal balance between helping their organizations to stay agile enough for quickly adapting to changing technologies while simultaneously providing them with a stable financial base.
While considering a new ERP system to invest in for your business, one of the main decisions to take is whether to go for a cloud-based ERP system or an on-premises one.
As the name suggests, an on-premises ERP system is one that is installed locally on your servers and has to be managed by your internal IT staff. In contrast, cloud-based ERP (or Software-as-a-service, aka SaaS) is offered as a service by an external vendor. This software and its related data are managed by the vendor who provides this service and users access it via web-based browsers.
ERP software integrates the various processes involved in running a business – inventory & order management, accounting, HR, CRM, and so on. A shared database forms the core of the system and supports the multiple functions. Especially, a cloud-based ERP system breaks down barriers between different business units and empowers employees with real-time information to help them take quick and relevant decisions.
Over 30,000 organizations around the world have used NetSuite, the world's no.1 cloud business software suite, to integrate their ERP, financials, CRM, and ecommerce business functions on one platform. Yet, although they have streamlined the above elements of their business, when it comes to taxation and tax compliance, several organizations still struggle to make sense of varying sales tax rates, regulation, rules, deadlines, penalties, etc. This lack of clarity can consume large chunks of time and internal resources that could be used more productively elsewhere. Also, it could result in expensive audits and setbacks to the reputation of the company.
“In this world, nothing can be said to be certain, except death and taxes.” -Benjamin Franklin
April 15, the deadline for filing of taxes, is just a few days away. Invariably, the date brings about some amount of apprehension in most of us. There are many small and medium business owners who are unclear about what exactly Sales Tax is, or how it differs from Use Tax.