3 Surprising Ways to Increase Revenue Within Your Manufacturing Organization
Posted on: June 24, 2016 | By: Craig Thompson | Microsoft Dynamics GP
Replacing your current ERP system is no small decision, however remaining competitive while maintaining an older system can be quite the difficult task to manage. Manufacturing companies rely heavily on organized and timely ERP systems to keep their inventory, warehouse management data and front of house analytics in order. Utilizing an older ERP software without predictive analytics can make looking forward to increase revenues and limit unnecessary expenses difficult. Luckily, unleashing the power of a more advanced Manufacturer specific ERP software like Microsoft Dynamics GP can help increase your overall revenue and improve customer relations.
Rather than simply react to customer behavior, manufacturers should work to be able to identify trends and put into play proactive measures to help increase revenue within their organization. To remain competitive, you need your ERP software to be able to stay one step ahead of market trends. Collecting data on client complaints, suggestions, and prospect opportunities is great, however even if your teams are diligently entering this information into your ERP system, without a strong foundation and integration between CRM and ERP can make making connections difficult.
Collaboration between departments with the use of advanced ERP and CRM systems can allow you to analyze information collected across the supply chain and consistently beat your competition to the punch. With ERP like Dynamics GP, you will be able to identify specific model popularity, incorporate commonly requested features into standard product offerings and spot new trends and service opportunities based on service call trends. With ERP software like Dynamics GP, identifying trends to proactively respond to your customers can help you pull ahead of your competitors.
Increase Dealer Sales
Dealers, distributors and retailers are under increasing pressure to differentiate their products and services, making it crucial for your manufacturing organization to work with dealers to deliver a higher level of service to help win business and loyalty. Sharing information with dealers is a challenge for many, however with centralized secure data dealers will have more of a partner oriented relationship that works well for fostering revenue growth and loyalty.
Utilizing dealer portals within ERP/CRM programs like Microsoft Dynamics GP or CRM, simplifies the process that your retailers and channel partners will have to take to order your products. Something that your dealers, retailers, and customers will appreciate and further incline them to continue purchasing from you. Many competitors don't utilize this technique, giving you a competitive edge. Through your dealer portal, you can provide dealers with accurate, real-time inventory status to make promises with customers confidently, easily accessible product dimensions, features and options, shortened lead time and increase accuracy, access to current promotions and more. With centralized dealer information made available through the internet, your network of dealers will gain trust in your partnership and sell more of your products.
Let's be honest, how often do we really look at the promotional emails that hit our inbox every morning? This is exactly why your marketing messages need to be fine-tuned to the interests of your audience and luckily, the data you should be collecting with every customer interaction can help with this. Tracking customer information across departments is important, and so is a CRM and ERP integration with Dynamics GP and CRM.
With centralized data and a CRM system that can automate some marketing features, your manufacturing organization is making huge steps forward. The next level of engagement tracks responses and activities to automate responses and target messaging to match interests. This new wave of information will allow you to fine tune your message to analyze customer activity to predict or suggest what products and services they should buy next. Eliminate unwanted emails that have no regard to customer interests or buying patterns. Send specific promotions to customers based on their purchasing history and value to the business, as well as manage your content to ensure that your customers don’t feel like they're being spammed! Marketing teams are constantly struggling with the numbers of channels and messages they are managing. Help them automate the process to build more effective and personalized marketing, which will in turn increase your customer interest and drive revenue.
At Logan Consulting, we take pride in our ability to take a company wide view of systems and work to understand how ERP can improve the entire company’s operations and customer service. Forward thinking ERP and CRM systems like Microsoft Dynamics GP or CRM can help grow just about every aspect of an organization and drive revenue. Don't get stuck in the past with an older system that can't help push you forward.
Interested in what an ERP system like Microsoft Dynamics GP could do for your organization? Contact us at Logan Consulting, your Chicago based Microsoft Dynamics partner and schedule a consultation.
25 Brilliant Ideas to Outsmart Your Competition with Microsoft Dynamics
Top 10 Inventory & Operations Decisions Distributors Are Making Blind
2020 Nucleus Research Report on ERP Technology