Manufacturing and distribution executives know that the adoption and use of digital commerce tools and technology is inevitable, but they are also aware that there are risks involved. For many B2B organizations, it may be the largest investment they have ever made. But if the investment is managed with the right programs to drive the return, the ROI can be significant, making digital transformation one of the best opportunities that a manufacturer or distributor can embark on in the marketplace today.
Digital Commerce ROI: Speed and Rigor
The returns won’t be visible overnight. Surveyed distribution executives whose organizations are digitally enabled caution that you probably won’t know what the benefits are going to be for your particular business until you start testing and experimenting with the new technologies and digital tools; and then you can start thinking more about exact ROI and more closely analyze what the returns are for your specific business. To measure returns on eCommerce investments, digitally transformed manufacturers and distributors focus primarily on two indicators: speed and discipline.
Digital tools should improve the value you can deliver to your customers, improve the productivity of your people, and improve collaboration with your suppliers, but in the end it’s all about your business moving at a faster speed.
In the early stages of your eCommerce solution implementation, you shouldn’t obsess over ROI and let it get in the way of trialing and experimenting with the new tools. But over time digital tools should enable a rigorous discipline around company-specific ROI goals and objectives.
New Technologies Inspire New Opportunities
Ultimately, the new eCommerce technologies will enable you to come up with new ideas and new opportunities in a mode like you have never done before, and that’s where your future is.
Watch the webinar recording, “De-Risking Your Digital Initiatives” to learn more about B2B eCommerce and steps you can take to reduce investment risk and increase returns as your organization establishes and operates its digital commerce channels.