Marketplace management made easy

Marketplaces have traditionally appealed to B2C companies as another channel to complement their online or brick-and-mortar stores. But more and more, B2B companies are realising the value these marketplaces can offer. In fact, instead of trying to compete against these marketplace giants, wholesalers are using these channels to increase brand awareness, acquire new customers, improve search engine optimisation (SEO) and boost sales.

This whitepaper explores the different ways NetSuite saves time and simplifies marketplace selling by becoming the central hub for all your company’s data.
For example, with NetSuite acting as your item master you can:

  • Centrally manage product data and attributes across all channels.
  • Manage product attributes, including categorisation, multi-currency pricing, promotion eligibility, languages, geography and marketing content in a streamlined workflow.
  • Deliver consistent, branded product data across all channels from a single source.

Explore the full solution by downloading the complete whitepaper.

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Wholesale to online eCommerce for B2Bs

Australian wholesale distributors have until now been largely unaffected by the disruptive impact of eCommerce and digital channels on the retail industry. This situation cannot last much longer. B2B buyers increasingly expect the same high levels of convenience, range, and low costs of eCommerce at all stages of their procurement processes, including wholesale distribution.

In this eBook we discuss the force driving Australian wholesale distributors to move their ERP and CRM from legacy on-premise infrastructure into eCommerce’s home territory of the cloud, and how they’re unearthing new business opportunities in the process.

Download to dive into 3 chapters covering:

  1. The “new normal” of procurement
  2. Agile distribution in the “supply web”
  3. When wholesalers go to market

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7 B2B eCommerce features to win over buyers

Australian wholesale distributors have until now been largely unaffected by the disruptive impact of eCommerce and digital channels on the retail industry. This situation cannot last much longer. B2B buyers increasingly expect the same high levels of convenience, range, and low costs of eCommerce at all stages of their procurement processes, including wholesale distribution.

In this eBook we discuss the force driving Australian wholesale distributors to move their ERP and CRM from legacy on-premise infrastructure into eCommerce’s home territory of the cloud, and how they’re unearthing new business opportunities in the process.

Download to dive into 3 chapters covering:

  1. The “new normal” of procurement
  2. Agile distribution in the “supply web”
  3. When wholesalers go to market

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Why omnichannel retailing is difficult to achieve

The reason omnichannel technology has been adopted so widely in retail is that it places an emphasis squarely where it should always have been—on the shopper. This is notable because it represents a shift away from the traditional emphasis on POS, merchandise planning, supply chain and all the other inward-looking systems. Instead, omnichannel commerce requires retailers to be outward looking, to focus on customer needs, wants and behaviours.

However, omnichannel retailing is easy to describe and difficult to achieve. The problem is that omnichannel services and functions touch so many systems in the retail enterprise that reconfiguring them requires a major overhaul that encompasses a long list of updates, upgrades and replacements.

Explore the NetSuite solution, a cloud-based omnichannel platform designed to meet the challenges facing retailers today.

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What do you expect from an eCommerce platform?

Complex and timely manual processes? Complicated, disparate systems? Poor reporting? If your eCommerce platform is hindering growth and expansion, it’s most likely time to upgrade your eCommerce platform.

This is an important decision. Your eCommerce platform is the backbone of your online sales operation. You’ll need to consider the look and feel, navigation, device responsiveness, and so much more. But first, it’s important to take time to think through where you see your business going in the next few years. If you select a platform that is unable to scale as you grow, you could be making a very costly mistake, in time and money.

Today’s online retailers have many advanced functions at their fingertips – solutions that go well beyond the appearance of an eCommerce platform. As online sales continue to outpace bricks and mortar sales, eCommerce technology has evolved. Retailers can now leverage solutions designed to completely unify eCommerce with core operational business systems. This means it’s possible for inventory and order management, marketing, customer support and financials to come together to provide a single view of the customer, orders, inventory and other critical business data – all while delivering a personal and relevant customer experience.

To discover what’s possible, explore the solution overview for SuiteCommerce Advanced, the leading eCommerce solution for Australian retailers looking to tick all the boxes.

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6 customer experience mistakes

Most commonly, it happens by ignoring the fact that your customer experience problem is really a back-end problem. A seamless, consistent and personalised experience is not about which front-end, customer-facing systems you deploy. It’s about having the right foundational back-end system in place to create a single source of truth for customer, order and inventory data.

The temptation to purchase the latest eCommerce or point of- sale (POS) software may provide new features to slightly enhance that channel experience but won’t address your siloed channels and corresponding islands of data. Shoppers will still feel the disconnect of moving from one channel to another. And your customer service and sales associates or representatives won’t get a complete, accurate and available picture of every customer across all of your touchpoints. In addition, you won’t gain the agility needed to meet ever-changing consumer expectations if you’re constantly chasing front-end functionality.

Moreover, costly system integrations don’t really work. Only huge enterprises can afford hundreds of millions of dollars to integrate disparate systems across their operations to improve the customer experience. Coles, David Jones, Spotlight, Bunnings are just a few. But even then, those integrations don’t deliver 100 % accuracy to the customer or your business. Worse off, those integrations are difficult and costly to maintain. When a single system requires a simple upgrade it creates a domino effect, requiring upgrades to all, other systems.

Six customer experience mistakes you could be making and how to remedy them.

Online versus store bought

Break: Your systems don’t support in-store returns of items bought online.

Remedy: Deploy an order management system that centrally manages orders for all channels.

Customer communications

Break: You don’t send follow-up emails after a shopper abandons their online cart.

Remedy: Deliver timely and relevant engagements from a central communications hub that utilises the data of your customers’ transactions and interactions.

Discounting

Break: You send an email promotion, discounting an item that the customer recently bought at a higher price in-store.

Remedy: A single view of all customer interactions and transactions across all touchpoints provides relevant, timely and consistent communication and promotions via all of your online and offline selling channels.

Stock availability

Break: An item is out of stock online but available at a local store.

Remedy: With a single source of real-time, enterprise-wide inventory visibility, display inventory availability on your website from all of your locations, including your physical stores.

In-store visits

Break: A shopper visits a store, looks at several items but does not purchase and leaves.

Remedy: Equip your store associates with POS technology to connect a shopper’s experiences online and in-store, where associates can place items in a customer’s eCommerce shopping cart or on their wish list for purchase later.

In-store stock

Break: A shopper visits a store to purchase an item but the size they want is not available, so they leave.

Remedy: Create an ‘endless aisle’, providing your store associates with real-time access to enterprise-wide inventory availability, including all stores, warehouses and even your supply chain, and ship to the customer’s desired location.

Explore more ways to boost the customer experience by downloading the complete whitepaper.

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6 ways to enable great online customer experiences

Today’s customer demands seamless and relevant experiences. They want to move effortlessly across your online and offline channels from initial contact, to purchase and beyond. Along the way, they expect you to know their interests and preferences and use this to provide consistent, timely, relevant and personalised engagements. They also expect your sales and customer service representatives to have real-time access to their purchase and interaction history to help advance their journey. In essence, they want a data-driven experience.

This is the course customers have set for companies. Yet, enabling an outstanding customer experience requires businesses to overcome the fallout of IT decisions made over years, resulting in incremental purchases of siloed, on-premise, channel-specific solutions. They now form the labyrinth of systems with islands of channel specific data that prevent unifying the customer experience across all touchpoints. But beware. Quick fixes of replacing front-end, customer-facing systems are not the answer. Achieving success in today’s digital competitive marketplace means businesses must replace their legacy systems to establish the right technology foundation. Remedying siloed systems and initiating a one-system approach will create a single source of truth for customer, order and inventory data for use in unique and differentiating ways, enabling the brand experiences that customers want and expect.

1. Establish your digital platform

With your foundation in place, you can seamlessly connect more modern and advanced channels within any part of your business. An eCommerce system will serve as the base of your digital platform. Unified with your back-end systems, you’ll provide instant access to inventory and customer data to your web store to display accurate inventory levels to shoppers, including store availability, and deliver relevant cross-sell and upsell merchandising offers.

2. Extend digital to the store and beyond

Unify your online and offline channels by extending your digital platform to support a modern POS. Your POS will now operate on the same digital platform as your eCommerce system, creating a seamless experience between online and offline. The shopping journey can start in one channel and easily transition to another. Sales associates can quickly leverage customer, inventory and product data for effective, in-store experiences. Other channels, including pop-up stores, catalogues, call centres and kiosks will also connect seamlessly to the back-end, allowing shoppers to truly buy anywhere, return anywhere.

3. Build your foundation

To achieve success in today’s digital competitive marketplace, businesses must simplify processes by consolidating their core systems. Remedying siloed systems and initiating a one-system approach is your first step. You’ll eliminate data fragmentation and duplication, while delivering real-time information, creating efficiencies and opportunities to improve the customer experience. With a one-system approach, your back-end enterprise resource planning (ERP), customer relationship management (CRM) and order and inventory management systems will reside on one platform. You’ll get a single source of the truth for customer, order and inventory data in real-time, making that data available to all existing and future front-end, customer-facing systems.

4. Maximise engagement and innovation

Design innovative customer acquisition and retention experiences with your eCommerce and POS systems, utilizing your single source of customer, order and inventory data. With a central digital communications hub, provide personalised engagements and marketing campaigns designed to motivate customers and deliver exceptional experiences at every touchpoint, focusing on relevancy and value throughout the customer lifecycle.

5. Drive market disruption

No longer limited by technology, digitally disrupt your industry and transform your business. You’ll streamline your operations and end the never-ending cycle of maintaining legacy, back-office IT systems and siloed, channel-specific software. From there, you’ll gain the agility and scalability to grow your business. Company resources previously dedicated to maintaining multiple systems with heavy integrations can be refocused to innovating the customer experience over and over.

6. Your new customer experience

With a unified commerce platform in place, technology is no longer a limiting factor. Delivering the ultimate customer experience arrives when you no longer depend on technology providers to help you create and engage in new, disruptive ways. Businesses can take disruption into their own hands.

With the single source of truth, you’ll provide consistent and relevant experiences across all customer touchpoints and sales channels to differentiate your brand by seamlessly moving with your customers from their desktop, to their smartphone, to your stores and to your call centre. You’ll also provide shoppers with relevant, timely and personalised engagements. Altogether, you’ll give customers what they expect from a brand experience, gain their loyalty and be rewarded with their repeat purchases.

Explore more ways to boost the customer experience and download the full whitepaper.

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A comparison: Multiple systems vs single ERP platforms

Many organisations have traditional ERP systems at the centre of their enterprises dating back a decade or more and loosely integrated with a patchwork of specialised point systems. Disparate legacy systems are batch-based, error-prone and share only a fraction of available data, resulting in fragmented information in siloed systems, scattered across the enterprise.

With a single, unified platform, fragmented sources of data are consolidated into a single repository to create a single source of customer, inventory and order data that allows merchants to provide a more consistent and relevant customer experience while streamlining operations, better managing suppliers and stock, speeding fulfillment, and improving customer service.

For your business-critical functions, how do multiple systems compare to managing one single platform?

Multiple Systems

Single Platform

Customer Information Customer data is siloed in channel-specific systems and often inaccurate and redundant.

 

A single cross-channel view of a customer that enables consistent and personalised service and offers, builds loyalty and grows lifetime value.
Inventory Visibility restricted to specific channels, limiting the capability to efficiently manage inventory. Accurate, real-time inventory visibility across the entire enterprise helps optimize decisions for profitable fulfillment processes and also meet customer delivery expectations.
Orders Customer expectations fall short with limited ability to manage orders across multiple channels. Centrally manage orders from multiple channels to meet customer expectations to buy, fulfill and return anywhere, process orders faster and lower operational costs.
Returns Cross-channel returns and exchanges are not possible, or are manual and costly to process. Accept returns from all channels, fulfil exchanges, manage credit processing and ensure saleable items return to inventory.
Items Item data and attributes managed in silos, generating multiple versions of the same data. Consolidate and centrally manage item data and attributes across all channels from a single source of truth
Pricing & Promotions Prices and promotions are channel-specific only Prices and promotions are easily rolled out across channels or customer segments.

 

Explore the full possibilities of Commerce with NetSuite in Going Beyond Online Purchasing, an eBook for B2B.

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