How Distributors Utilizing Digitalization Are Seeing Consistent YOY Growth
Distribution is seeing a wave of digitalization across industries. Successful distributors incorporate technology into their everyday operations to see faster growth and record profits. Digitalization empowers distributors to do business in less time through streamlined processes and better customer service.
What is digitalization?
Digitalization is the process of implementing new technology into a business’s operations. Today’s distributors constantly juggle an influx of customers, orders, backorders, and new inventory. Without a streamlined process of managing business operations, mistakes are common and can be costly.
Successful distributors today are riding the wave of digitalization and implementing software to streamline their processes.
Why consider digitalization?
Today’s buyers have higher expectations than ever before. Through digitalization, businesses offer top-tier e-commerce portals, complete transparency into inventory, and instant service to all customers. With these new features available at every distribution branch, this is no longer a perk but an expectation.
By meeting customer expectations, digitalizing distributors see more sales in less time.
How digitalization increases sales for distributors
Implementing technology can cut down work time and provide customers with a quicker, more effortless experience, making it more straightforward for them to shop with you. Tactics through which digitalization increases sales include:
- Better e-commerce - Creating easy-to-use digital channels to shop through and simple ways for customers to connect with their distributors provides a more seamless shopping experience, ensuring customers will come back.
- Better data management - Data is critical to run a business successfully. With accurate customer information documented, distributors can avoid sending items to inaccurate addresses or seeing payment errors
- Better customer service - With digital tools, business owners cut unnecessary work time and costly errors, enabling them to serve customers better. Digital tools exist to boost productivity and help distributors better serve their customers.
By serving customers better and streamlining processes, businesses are seeing record growth through digitalization.
How distributors are seeing year-over-year growth with digitalization
Better workflow means more work done, which promotes growth for your business. According to Forbes, executives say that digitalization improved operational efficiency by 40%, created a faster time to market by 30%, and increased the ability to meet customer expectations by 35%. 56% of CEOs stated that digitalization had increased profits.
US Chamber of Commerce reports that of the business owners surveyed, 94% said technology helps them run their business more efficiently. 84% of these leaders saw an increase in profits, 82% saw an increase in sales, and 74% increased their employment.
By streamlining processes through digitalization, companies can take on more projects and finish them quickly and efficiently. Not only does digitalization empower you to work faster, but it creates a better customer experience so you can build lasting relationships.
We wrote a full report all about digitalization and how leading distributors use it to meet modern customer needs. Download our latest white paper here!