Top 3 reasons to get into Multi-Channel Retail

Multi-channel retail, which nowadays understandably includes online channels, is something you just have to do this year. Every single day you put off doing it, the competition gobbles up market share that should have been yours. There are a number of reasons why even successful retailers are now going into multi-channel retailing. Here?s three of the most important ones.

1. You’ll get a BIG jump in sales

Not counting this year, which could be getting a big boost from major activities like the Queen?s Diamond Jubilee and the 2012 Olympics, sales of UK retailers have been experiencing tremendous growth particularly from their online channels. Already two years ago (2010), a number of UK retailers boasted significant increases in sales as a result of multi-channel retail initiatives. These retailers included:

Argos, which got a whopping ?1.9bn from multichannel sales back then;
House of Fraser, which reported a 150% jump in its online sales in just 6 months; and
Debenhams, whose profits rose by 20%

There were many others. Now, the reason I?m showing you 2010 figures is because online retail sales increased by 14% in 2011 and those same businesses still added to that growth. So, if only you had enough foresight and started expanding your business to the Web two years ago, you could just imagine what your sales would have been today.

The good news is that, it’s not yet too late if you start now. Here?s why…

2. Those numbers are going to keep on growing

We’re getting all sorts of predictions from leading researchers regarding the possible growth of the Internet economy. All these predictions have one thing in common. They all have a positive outlook. The Boston Consulting Group (BCG), for instance, predicts an average growth of no less than 10% per year in the G-20 nations.

3. Most online retailers aren’t doing it right yet

Although many retailers have already started bringing their business to the Web, most of them are doing it the wrong way. For example, many of them fail to integrate their offline and online channels. This is a serious shortcoming because it leads to customer dissatisfaction.

When a customer goes to your website and sees something he likes, you wouldn’t want him to drive all the way to your store only to find out that the item isn’t available there or, if the item is there, that it isn’t priced as he expected. The lack of multi-channel integration is very common among multi-channel retailers.

These inadequacies are actually good news because it means there are still many areas you can improve on. After improving on them, you can then highlight those areas as your key differentiators.

If you’re still looking for more reasons on why you should go into multi-channel retailing, read this post:

“5 Numbers Showing Why the Time to Invest on eCommerce in the UK is Now”

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Project Management

In a cutthroat market, where the competition is constantly on the attack to break into your market share, implementing a project-based system can give your organisation the necessary tools to be more efficient and agile.

However, rapidly changing consumer demands, technologies and other factors make it ever more difficult to generate a strategic advantage from projects, let alone develop one. Also since a large organisation can easily end up having to manage multiple projects at the same time, the new management paradigm can appear too complex.

What your company really needs is the expertise that can guide you starting from conception and planning, down through procurement and execution in order to maximise whatever resources you have. Each move must be well thought out so that there are clear goals and objectives as well as methods to achieve them.

Programme Management

Are you running multiple projects pointing to an overall strategic direction? Then you’ll need more than just a “scaled-up” version of project management to make sure every component’s work effort is well coordinated to achieve your enterprise’s desired outcomes.

Through our expertise in programme management, we’ll work with your stakeholders, executives and clients to achieve the following:

Design a well-articulated management structure and clearly define decision-making roles & responsibilities – This will ensure decisions are made rapidly with zero to minimal overlapping issues and to promote a unified, well-synchronised advance towards the common objective.
Set objectives then make sure they are met by guiding your key personnel in coordinating activities across projects.
Design or utilise existing financial models such that they adhere to your enterprise’s financial policies.
Develop procedures for reporting expenditures specific to the programme.
Establish the programme infrastructure, including
- The appropriate technical environment and tools (e.g. hardware, software, communication, and other IT-related items)
- IT staff and administrators
Evaluate your enterprise’s current IT architecture to determine whether it will suffice to achieve your objectives. If it doesn’t, propose options you can take to meet what is required.
Plan out activities that should take place in different levels in the organisation.
Implement a periodic review of the programme progress as well as of interim results to ensure everything is aligned with the strategic outcome.

Programme and Project Reviews

Whether we’ve helped you set up your programme or you did it on your own, time will come when you’ll need to know whether everything is going as planned. If it appears like the entire programme is going smoothly, chances are, something’s going awfully wrong somewhere. Remember, even the most well-planned projects and programmes are still under the mercy of unforeseen variables.

We’ve got highly specialised reviews for either projects or an entire programme. We’ll be able to provide you answers to questions like:

Are all projects aligned with the programme’s intended direction?
Are the people working on your projects as focused with the business rationale as they have been with meeting deadlines and utilising resources?
Where are your risks and exposures? How can they be remedied?
Is the project viable at all?

We understand how your staff would want to function normally as quickly as possible. Rest assured, our programme and project reviews are conducted swiftly and efficiently so that both interruptions and oversights are brought to a minimum.

After we’re done, you can expect a detailed quantitative assessment of your programme and/or projects’ status.

Basically, we’re not here to find mistakes; we’re here to help you find ways to correct them. If a project rescue is required, we’ll be the first to lend a hand.

Project Rescue

Believe it or not, many of our clients approached us not before or during their project’s planning stages. But rather, after having gone through sloppy execution, when they end up losing control. In other words, we’re usually at the receiving end of the distress signal, after they’ve punched the panic button.

While obviously this isn’t the ideal time to seek the aid of any expert because it means you’ve incurred unnecessary losses already, all is not yet lost. If the appropriate remedial actions are taken in a timely manner, you can still achieve highly acceptable end results.

In fact, in most of our experiences with project rescue operations, we’ve been able to put projects back on track – just the way the planners wanted them to be. We’ll also help you devise airtight strategies to prevent your project from going astray again.

At the end of our project rescue,

You’ll regain complete control
Milestones will be reached as planned
Requirements will be accomplished, and
The project will be realigned with ideal business directions

Project Governance Processes

Constructing a firm underlying structure is essential in any organisation. So before we’ll institute project management, we’ll do the following first.

Set up a PMO or Project Management Office to ensure, among others, that
- Utilisation of facilities, budgets, technical support and other resources will be well coordinated
- Work products can be tracked and reviewed
- Issues regarding methodology and processes will be given appropriate attention
- Training can be organised
- Project management discipline be instilled in the IT department
Establish a steering committee to oversee the implementation of IT and business strategies
Fill up slots for a project manager, IT executive and a business sponsor and define the roles of each
Infuse project management practices to all affected units of the enterprise

Establishing PMOs, steering committees and other management structures is the easy part. Many organisations spend so much in order to create the structures related to project management, only to find out later that the effort has been all for naught. That’s why we won’t end there. Our objectives will therefore include the following:

To plant and cultivate an environment appreciative of project governance i.e. one that does not project it as just a bunch of bureaucratic processes and protocols.
To establish an organisational culture that starts at the top.
To make everyone involved understand that the power of project governance still lies in the hands of those who will ultimately implement it.

A project-driven enterprise is never propelled by a single project. Since multiple projects require a more complex governing structure, you’ll need to understand the intricacies of programme management.

How to Improve Corporate Efficiency through IT

When revenues are low, what do you do to improve your profit? Obviously, those same revenues should at least remain the same. So, the objective would be to deliver the same products and services for less cost. More for less. Such is the essence of corporate efficiency.

There are many things that can make a company inefficient. There are outdated procedures, poor coordination between departments, managers? lack of business visibility, and prolonged down times, to mention a few. As a company grows, these issues get more severe.

You can overcome all these by deploying the right IT solutions. But don’t IT solutions increase spending instead? Au contraire. The last couple of decades have seen the rise of IT solutions that help companies’realise obvious cost savings in no time.

Streamline processes and keep departments in-sync

Company inefficiencies are largely due to outdated systems and procedures. These systems and procedures were not built for the dynamic and complex business environments of today that are being shaped by increasingly onerous regulations, fierce and growing competition, significant economic upswings and downturns, new battlefronts (like the Web) and logistical strategies (like outsourcing), and IT-savvy crooks.

So when your employees force outdated systems to meet today?s business demands, they’re just not able to deliver. At least not efficiently.

Another major cause of inefficiency is the discordance among departments, business units, and even individual staff members themselves. There are those who still use highly personalised spreadsheets and other disparate applications, which make data consolidation take forever and the financial close a perennial headache.

Costly devices like mobile phones, netbooks, and tablet PCs, which are supposedly designed to provide better communication, are not fully maximised. If these are subsidised by the company, then they also contribute to company inefficiency.

One way to deal with these issues is to deploy server based solutions. By centralising your IT system, you can easily implement various improvements that can pave the way for better communication and collaboration, stronger security, faster processes and transactions, and shorter down times for troubleshooting and maintenance. All these clearly translate to cost savings.

Gain better visibility

Corporate efficiency can be improved if your decision makers can make wise and well-informed decisions, faster. But they can only do this if reports they receive from people down the line are timely, accurate, and reliable. Basically, data should be presented in a way for managers to gain quick insights from.

If your people take too much time scrutinising, interpreting, and reconciling data, you can’t hope to gain a significant competitive advantage. Equally important to managing an ongoing project is the speed at which you make a go/no go decision to start or stop a project. A wise, quick decision will help you avoid wastage.

The same holds true when making purchases and investment decisions. It’s all about quickly eliminating waste and investing only on those that will give you fast, positive returns.

Clear business visibility will allow managers to allocate resources where they are most effective, to pinpoint what products and services being offered are more profitable, and to identify which customers are giving better business from an overall perspective.

These are all possible with business intelligence. We know, we know. You’ll say BI solutions will force you to break the bank. Not anymore. At least, not all. There are already two main types of BI solutions: on-premise and SaaS. The latter will generally cost you less.

Of course, each type has its own advantages, and you’ll really have to look into the size of your organisation, the number of source systems your decision-making platform is connected to, integration requirements, budget, etc. to make sure you get the most out of your investment.

But IT solutions cost an arm and a leg

Again, not anymore. These days, you can find IT products that are faster, more functional, and more powerful than their predecessors at a fraction of the cost. When it comes to getting more affordable IT products and services, you now have many options.

For example, you can turn to open source solutions to save on license costs. These solutions are typically backed by vibrant and helpful communities where you can find an extensive source of technical support – many of which are for free. With popular open source products, you can easily tap from a large pool of developers with affordable rates any time you want to make system enhancements or customisation.

On another front, virtualization solutions allow you to save on CAPEX and OPEX by eliminating certain expenses normally used for setting up infrastructure or buying hardware and maintaining them. Server virtualisation, for instance, will allow you to consolidate servers and put them together into just one machine, while desktop virtualisation will enable you to eliminate unproductive hours associated with desktop down times by allowing you to redeploy a malfunctioning desktop very quickly.

Closely related to those are cloud-based solutions like SaaS (Software as a Service), IaaS (Infrastructure as a Service), and DCoD (Data Center on Demand). SaaS and IaaS will help you realize savings in acquisition and maintenance costs for software and hardware, while DCoD?s scalable services allow you to request for additional capacity, power and storage only as you need them, thus making you spend only according to your current infrastructure requirements.

Like we said, there are many, many options out there just waiting to be tapped.

Top 10 Benefits of Using Field Service Automation Software

Just how much wastage is witnessed in your operations? Each morning your technicians report to work, they receive the day?s schedule, go through the inventory for the parts and tools that will be required, collect and fill the paperwork, before finally hitting the road- translating to hours of manual organisation. What of the information they need when they are at the site? Are they carrying around bulky files on each individual customer? Your field technicians are also responsible for lots of the equipment being handled- and you want to keep a tab on it all- knowing what is being worked on, when it is happening, how long it takes, and the materials that have been used. Dealing with all this on your end through loads of Excel sheets, calculating and updating time logs, and ticking off the inventory- it can be a strain. Field Service Automation Software comes in to handle it all- from the scheduling and tracking, to inventory control and invoicing- all on the same platform.

Eliminating the Paperwork and Optimising Your Operations

There has been a surge in demand for all-in-one Field Service Management (FSM) solutions. They leverage the power of mobile technology, cloud computing and social collaboration to boost the efficiency of field services. In fact, the FSM market is growing at rates never seen before, if the recent statistics are anything to go by. According to the latest estimates, it is worth $3.5 billion and is expected to hit $5.9 billion by 2024.

It’s understandable why this is happening. Technology is advancing, and we all know it’s every entrepreneur?s dream to optimise the use of the available resources while guaranteeing customer satisfaction. If technology can deliver this through automation, why not? Every business now wants to automate things, and the focus is to maximise resource output. You should, therefore, not be surprised to see the FSM software industry booming. If you just considered the field service industry, you’ll realise that there are so many software applications to help with service automation, whether full or partial.

A good example is FieldElite, which helps with the management of field workers. From your desktop or the palm of your hands, on a tablet or smartphone, you can take full control of your field workers, manage scheduled jobs, and use maps to manage work assignments for the already dispatched field workers. Not only does FieldElite help you handle tasks in an accountable manner but also provides options for accounting and reports, all managed in an easy to use dashboard.

10 Benefits Field Service Automation Software Brings On Board

Why would organisations need to invest in a Workforce management app? Below are some of the key benefits of using a Field Service Management software:

1. Cut down the down-time and make every minute count

From scheduling your operations, mapping out preferred routes, dispatching the service team, to staying connected with them throughout the tasks, you get to improve worker efficiency with field service software like FieldElite.

Most FSM software programs allow the administrator to send tasks directly to the field worker?s mobile. More often than not, the FSM software provides vital information, including service history, optimal route to the site, the tools required, and contact numbers, among other details.

This improves efficiency by ensuring that the client’s needs are taken care of promptly. Where it’s about machine maintenance, the downtime would be as short as possible.

2. Enhance professionalism and boost your brand image

FSM software programs are known for ensuring professionalism in the manner in which business activities are conducted. Of course, professionalism is attained through several factors, including working with a team of professionals. Such a team, using FSM software, results in enhanced efficiency and excellence.

A field service software like FieldElite helps you to consolidate all your business information into a single central database. With different access levels, your employees will access only as much information as is relevant to their respective duties.

An FSM software is ideal because the stored information can be accessed from any location, meaning field workers can pick new tasks while in the field, provided they’ve got the requisite tools. Instead of having to come back to the office, the employee would access all the information and execute the necessary task.

3. Resource Optimisation with Real-time Field Service Automation Software

Resource optimisation is one of the key determinants of a company?s profitability. While businesses vary in size and purpose, they all share one thing in common ? the desire to increase productivity while ensuring the optimal usage of resources.

Besides productivity, field service software also allows for efficient utilisation of the available resources to cut down on costs.

4. Stay connected with all your crew- and coordinate them better

FSM software facilitates improved coordination with the workforce. The software streamlines the management of the entire field service life cycle, ranging from labour to work orders, returns, contracts, warranties, and equipment.

The idea is to bring all the company?s field-related operations to a central point. And now, with easy data accessibility from a central platform, improved coordination is easily achievable.

5. Get accurate data and make well-informed decisions every step of the way

Adopting the field service management software is more than just a way to improve efficiency. It goes a long way towards improving a company?s accuracy. When a field service management software is used to trace a company?s activities, all the tasks are tracked on the mobile device, keeping the managers informed of every step.

Besides, the technicians also have a free reign to record the diagnostics, quality information, test results, and the parts consumed. All the information can be captured using text, audio, videos, and still photos. This guarantees minimal to no instances of data manipulation.

6. Improve Customer Satisfaction: Win Their Loyalty

Field service management software improves customer satisfaction. How does that happen? Well, using a field service software like FieldElite allows for quick response to customer queries. If there?s one thing that quickly turns your customers off, it’s delayed response to their requests. With the field service management software, however, you can respond to such requests quickly and effortlessly.

Moreover, your customers can also track the service engineer to ensure they’re well informed of any anticipated delays. With quick response time, customer machines have more reliable up-time, which is the desire of every client.

7. Flexibility ? because no one likes being tied down

If there?s one thing that customers like when dealing with a company, it’s flexibility. Instinctively, customers will always want different options to choose from when using a service without appearing to be confined to one provision. Having limited options would also appear boring.

To this extent, it would be wiser to adopt advanced FSM software. Advanced FSM software is compatible with mobile phones, meaning users can easily manage their tasks from isolated locations. FSM software can either be device-agnostic or device-specific. The device-specific type supports Android, Windows, and Apple iOS. This guarantees mobile-friendly tasks where users can easily manage the assignments via mobile application.

8. Store client history in secure cloud-based FSM software

Software like FieldElite stores client history precisely. All the past data, including order history, are stored separately and accurately. In so doing, the field technician gets easy access to the tools, specifications, and technician instructions that aid them in their operations. The result is increased productivity and on-time service delivery.

9. Asset Management and Inventory Control

Naturally, companies offering different repair services have plenty of assets to store. Accordingly, retrieving a specific part out of the large collection would be daunting.

With a field service application like FieldElite, the staff members can track down all the products effortlessly using the GPS. Furthermore, the FSM software ensures excellent maintenance of assets.

10. Improve oversight of field workers ? and keep them in the loop

The FSM software comes with many useful tools, including a built-in GPS tracker. The GPS tracker oversees the operations of the on-field workers, providing precise details about their geographical location, actual arrival time, and most importantly, the distance from the job site.

While this might not be useful at all times, it comes in handy when you need to assign an urgent task to the nearby technician. Call it a classic example of dynamic scheduling.

Final Thoughts

With so much at stake, it’s increasingly compelling to include the Field Service Management Software in your business. With every industry moving towards automation, your business cannot afford to lag.

Quick and efficient service delivery through FSM software may be the difference between you and your competitors.

The FSM software is no longer the cherry on the cake but a must-have tool for your survival in the highly competitive market.