{"id":12420,"date":"2017-04-06T11:47:27","date_gmt":"2017-04-06T18:47:27","guid":{"rendered":"https:\/\/oroinc.com\/b2b-ecommerce\/blog\/digitalization-for-manufacturers-wholesalers-part-iii-must-have-tools-and-resources-for-the-digital-age"},"modified":"2023-05-26T05:29:08","modified_gmt":"2023-05-26T12:29:08","slug":"digitalization-for-manufacturers-wholesalers-three","status":"publish","type":"post","link":"https:\/\/oroinc.com\/b2b-ecommerce\/blog\/digitalization-for-manufacturers-wholesalers-three\/","title":{"rendered":"Digitalization for Manufacturers &#038; Wholesalers, Part III"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The first part of this series started with looking at <\/span><a href=\"https:\/\/oroinc.com\/b2b-ecommerce\/blog\/digitalization-manufacturers-wholesalers-retailers-part-marketplace-changing\/\"><span style=\"font-weight: 400;\">how digitalization and the internet changed the B2B marketplace<\/span><\/a><span style=\"font-weight: 400;\"> and the buyer. The second installment shared a <a href=\"https:\/\/oroinc.com\/b2b-ecommerce\/blog\/digitization-for-manufacturers-wholesalers-retailers-part-ii-winning-strategies\/\">few strategies that can be used to adapt<\/a> to those changes. Since strategies need tools for implementation, we conclude this series with the third part overviewing the tools and resources needed for digitization.<\/span><\/p>\n<p><!--more--><\/p>\n<h2><b>The Digital Buffet<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Looking at digital solutions is like gazing on a buffet that stretches the entire length of the ballroom. Making intelligent choices is difficult. It\u2019s tempting to try everything, but you know that it will only end in disaster. The smart strategy is to select one item from each category and pick items that complement each other. The result is an incredible feast that satisfies both wants and needs. Picking your digital tools should be the same.<\/span><\/p>\n<h2><b>Digital Business Tools<\/b><\/h2>\n<h3><b>Financial Management<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The core of your business activity is captured by your accounting software. Financial information is crucial to assess the health of the business and detect trends. Digitizing financial workflows boosts efficiency, eases the burden of financial reporting and lends consistency to business operations. Select an accounting software that easily integrates with other business applications. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Key functions to look for are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Accounts payable<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Accounts receivable<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Payroll<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Invoicing<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Financial reports<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Bank account reconciliation<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Asset management<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/quickbooks.intuit.com\"><span style=\"font-weight: 400;\">Quickbooks<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"http:\/\/www.sage.com\/us\/industry\/wholesale-distribution\"><span style=\"font-weight: 400;\">Sage<\/span><\/a> <span style=\"font-weight: 400;\">a<\/span><span style=\"font-weight: 400;\">r<\/span><span style=\"font-weight: 400;\">e<\/span><span style=\"font-weight: 400;\"> one of the most commonly used financial software packages for wholesalers and manufacturers.<\/span><\/p>\n<h3><b>ERP and Product Information Management<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Manufacturing has special needs. By digitizing planning, production and control, you gain efficiency and the ability to identify bottlenecks before they occur. Avoid out-of-stock catastrophes that prolong order fulfillments. A quality Enterprise Resource Planning (ERP) program harnesses the power of digitization to control workflows and information to better manage your company. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Look for the software that enables you to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Plan stock requirements<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Schedule production<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Manage multiple warehouses<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Track and manage returns<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Manage finished goods inventory<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.marello.com\"><span style=\"font-weight: 400;\">Marello<\/span><\/a><span style=\"font-weight: 400;\"> is a great example of an innovative and flexible solution for ERP needs. <\/span><a href=\"https:\/\/www.fishbowlinventory.com\/products\/fishbowl-manufacturing\/\"><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">Fishbowl Manufacturing<\/span><\/a><span style=\"font-weight: 400;\"> is another popular ERP for manufacturers with robust functionality.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All B2B businesses need to <\/span><b>manage their product information<\/b><span style=\"font-weight: 400;\">. Delivering a successful omnichannel experience requires a system to centralize and harmonize your product information. When your marketing and e-commerce professionals work from the same playbook, your customers get consistency across all channels. <\/span><\/p>\n<p>Select a product information management (PIM) system that includes functions for:<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Easy import\/export or product data<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Hierarchical prioritization by source<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Data lifecycle management<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Easy editing and organizing of product data<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.akeneo.com\/\"><span style=\"font-weight: 400;\">Akeneo<\/span><\/a><span style=\"font-weight: 400;\"> is an open-source solution that integrates with most common data sources as well as information distribution channels.<\/span><\/p>\n<h3><b>E-Commerce Platform<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">As we&#8217;ve covered in the first part of the series, today\u2019s B2B buyer demands an e-commerce presence, a proper online catalogue they can browse and order from. It\u2019s also clear that most e-commerce offerings were developed for B2C and doesn\u2019t work well with B2B requirements. Make sure you select a platform that meets your needs and can scale with you as your organization grows. Look for:<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Customer and employee friendly web store interface<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Ability to create multiple access levels and manage user access permissions<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Ability to manage multiple web sites<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Multiple price list and catalog functionality<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Configurable checkout and RFQ workflows<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Customizable catalog features<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Ability to work with complex corporate account structures<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Integration with other digital tools<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/oroinc.com\/b2b-ecommerce\/\"><span style=\"font-weight: 400;\">OroCommerce<\/span><\/a><span style=\"font-weight: 400;\"> was built from the ground up for B2B, so it can easily manage multiple stores, price levels, product catalogs by customer segments and much more.<\/span><\/p>\n<h2><b>Customer Relationship Management<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">With buyers putting more emphasis on customer experience and less focus on product price or quality, managing customer relationships is key. \u00a0Fortunately, digitalization makes this easy. \u00a0The right software arms you with the right information each time you are in front of your customer. \u00a0This is the omnichannel experience B2B buyer want today. Choose your customer relationship management software carefully as there are many options in the market. \u00a0You\u2019ll want to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Track all customer interactions including offline<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Manage leads, opportunities and sales<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Track key sales and marketing performance indicators<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Set and configure workflows to improve staff productivity<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.orocrm.com\/\"><span style=\"font-weight: 400;\">OroCRM<\/span><\/a><span style=\"font-weight: 400;\"> gives you a 360 degree view of your customer whether you interact on the phone, in-person, by email or physical mail. This enables you to be more efficient in both marketing and sales. <\/span><\/p>\n<h2><b>Digital Marketing Tools<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Once you\u2019re using the right digital tools, your digital marketing efforts will be much easier and more effective. By deploying your products using the right ecommerce platform, your store increase in visibility because now your buyers can find you when researching products on Google and other search engines. The right ERP and PIM keeps you abreast of stock status, so you can easily launch targeted campaigns to promote excess inventory. The right CRM will consolidate your information and produce detailed client profiles that can be used to develop marketing campaigns with higher ROI. \u00a0<\/span><\/p>\n<h3><b>Email Marketing<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Stay in front of your customers and leads with targeted newsletters and email offers. Look for email marketing platforms that:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Integrate with your CRM<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Integrate with your e-commerce platform<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Comply with anti-Spam regulations<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Capture open and conversion rates and other key analytics<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Offer email marketing automation essentials<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/mailchimp.com\/\"><span style=\"font-weight: 400;\">MailChimp<\/span><\/a><span style=\"font-weight: 400;\"> and<\/span><a href=\"https:\/\/dotdigital.com\/\"> <span style=\"font-weight: 400;\">dotmailer<\/span><\/a><span style=\"font-weight: 400;\"> allow you to build and send emails and track results.<\/span><\/p>\n<h3><b>Pay per Click and Display Advertising<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Effective digital marketing gets your message in front of buyers while they are researching products and suppliers. \u00a0Make sure you don\u2019t get lost in the crowd. Deliver your ad based on the results of:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">very narrow or broad search terms<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">target demographics<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">geographic locations<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/adwords.google.com\/home\/\"><span style=\"font-weight: 400;\">Google AdWords<\/span><\/a><span style=\"font-weight: 400;\">,<\/span><a href=\"https:\/\/www.adroll.com\/\"> <span style=\"font-weight: 400;\">AdRoll<\/span><\/a><span style=\"font-weight: 400;\"> and<\/span><a href=\"https:\/\/www.buysellads.com\/\"> <span style=\"font-weight: 400;\">BuySellAds<\/span><\/a><span style=\"font-weight: 400;\"> \u00a0can manage your pay per click, retargeting and display advertising campaigns.<\/span><\/p>\n<h3><b>Social Media and Content Marketing<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">In the digital age, search engine ranking can make or break a business. Increase your website\u2019s ranking organically using content marketing. Publishing regular content to a company blog or through other channels, like<\/span><a href=\"https:\/\/www.linkedin.com\"> <span style=\"font-weight: 400;\">LinkedIn<\/span><\/a><span style=\"font-weight: 400;\"> or<\/span><a href=\"https:\/\/medium.com\/\"> <span style=\"font-weight: 400;\">Medium<\/span><\/a><span style=\"font-weight: 400;\">,<\/span> <span style=\"font-weight: 400;\">i<\/span><a href=\"https:\/\/medium.com\/\"><span style=\"font-weight: 400;\">n<\/span><\/a><span style=\"font-weight: 400;\">c<\/span><a href=\"https:\/\/medium.com\/\"><span style=\"font-weight: 400;\">r<\/span><\/a><span style=\"font-weight: 400;\">e<\/span><a href=\"https:\/\/medium.com\/\"><span style=\"font-weight: 400;\">a<\/span><\/a><span style=\"font-weight: 400;\">s<\/span><a href=\"https:\/\/medium.com\/\"><span style=\"font-weight: 400;\">e<\/span><\/a><span style=\"font-weight: 400;\">s<\/span> <span style=\"font-weight: 400;\">searchable content. Leverage social media to build brand awareness and following while also supporting your content efforts.<\/span><a href=\"https:\/\/buffer.com\/\"> <span style=\"font-weight: 400;\">Buffer<\/span><\/a><span style=\"font-weight: 400;\"> and<\/span><a href=\"https:\/\/hootsuite.com\/\"> <span style=\"font-weight: 400;\">HootSuite<\/span><\/a><span style=\"font-weight: 400;\"> allow you to schedule social media posts when your followers are most likely to be looking. \u00a0<\/span><\/p>\n<h2><b>Intelligent Adaptation<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The future of B2B is bright for those willing to adapt to the changing environment. Agility is the key. By using the digital business and marketing tools available, you can provide the omnichannel experience that B2B buyers demand.<\/span><a href=\"https:\/\/oroinc.com\/\"> <span style=\"font-weight: 400;\">Oro<\/span><\/a><span style=\"font-weight: 400;\"> is here to help.<\/span><\/p>\n<blockquote><p><i><span style=\"font-weight: 400;\">&#8220;Today, companies have to radically revolutionize themselves every few years just to stay relevant. That&#8217;s because technology and the Internet have transformed the business landscape forever. The fast-paced digital age has accelerated the need for companies to become agile.&#8221; \u2013 <strong>Nolan Bushnell<\/strong>, technology pioneer, entrepreneur and engineer.<\/span><\/i><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The first part of this series started with looking at how digitalization and the internet changed the B2B marketplace and the buyer. The second installment shared a few strategies that can be used to adapt to those changes. Since strategies need tools for implementation, we conclude this series with the third part overviewing the tools [&hellip;]<\/p>\n","protected":false},"author":23961,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"footnotes":""},"categories":[210],"tags":[103],"class_list":{"0":"post-12420","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-b2b-ecommerce","7":"tag-orocommerce"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Digitalization for Manufacturers &amp; Wholesalers, Part III<\/title>\n<meta name=\"description\" content=\"Digitalization for manufacturers, wholesalers &amp; retailers, part III: must have tools and resources for the digital age - adapt using the right inventory.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/oroinc.com\/b2b-ecommerce\/blog\/digitalization-for-manufacturers-wholesalers-three\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Digitalization for Manufacturers &amp; 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