As a retail startup, you are always pivoting to meet changes in the marketplace, and having siloed systems to run your business just is not cutting it anymore. You need a solution that is flexible and adaptable enough to whether any storm (or pandemic as it were) and scalable so that your growth is no longer a limiting factor. You also need something that is robust enough to grow with you so that you do not find yourself in the same situation 5-10 years down the road.
If your back end systems and your ecommerce solution are siloed, and you’ve determined that your current business management system is holding you back then it’s time to make a change. What better time than now, when bulk of your business still comes from your ecommerce platform?
In 2019, online retail sales grew 56% - and that’s before the COVID-19 pandemic hit and everyone was ordered to stay at home. Despite lower overall spending in the United States due to COVID-19, many retailers who have invested in an ecommerce platform have seen their webstore sales increase by around 43% since the beginning of the pandemic.
COVID-19 has been systematically poking holes in the existing infrastructure for companies across North America – particularly for Retailers.
COVID-19 has pushed many retailers to consider putting up their own online webstore. Not only can weather more storms (such as a worldwide pandemic) than a brick and mortar store, but it also gives you the flexibility you need to grow your retail business, provided that it is integrated with your back office systems.
Maybe you’ve read my last blog, 5 Symptoms of a Siloed Ecommerce & Back End System, and concluded – “yes, this is me. I have siloed systems”. The next question is always going to be “So what should I do about it?”
It’s tough running a growing business.
I’ve been there. You start out with a dream, then a vision. You see an opportunity to make your mark in the world by helping people achieve ‘X’ in their lives. You did the work to develop your product or service, and you know it is world class. You analyzed the market potential and the sky is the limit. So you look at all your investments, the 401(k) and get a 2nd mortgage on the house for a working capital line of credit.
In November 2016, Microsoft announced Dynamics 365 Finance & Operations.
In April 2018, they announced Dynamics 365 Business Central.
So what does that mean for you? What’s next?
You’re currently running a legacy version of Microsoft Dynamics, and Microsoft is still supporting it – for now.
Moving to a new ERP system is a big investment of time, money and resources. There’s no question about that. It’s only natural that decision makers want to take some time to ensure that they are getting the right solution for their business so that they can get the most ROI out of their investment.
As a wholesaler of cell phone units, parts, or accessories, you’ve got a lot of different kinds of inventory in multiple locations to keep track of.